Render

2024

Bitcoin

Render Price Prediction: During the early May recovery phase in the crypto market, the <a href="https://coingape.com/ai-protocol-render-rndr-soars-15-as-bitcoin-fights-for-balance/">Render</a> stood out as one of the top performers. The altcoin rebounded from combined support of $0.7 and a 50% retracement level propelled the asset value by 55% to hit a high of $10.85. A closer examination of the daily chart reveals the upswing as a double-bottom pattern, suggesting the possibility of further upward movement in the near future. 
Also Read: <a href="https://coingape.com/blog/fet-vs-render-which-ai-altcoin-to-buy-sell-or-hodl-in-may/">FET Vs Render: Which AI Altcoin to Buy, Sell or Hodl in May?</a> 
<h2 id="render-price-prediction-double-bottom-formation-signals-renewed-buying-sentiment">Render Price Prediction: Double Bottom Formation Signals Renewed Buying Sentiment</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/h/HWCJgsaF.png" alt="BINANCE:RNDRUSDT Chart " width="1946" height="893">
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 Render Price Prediction| Tradingview
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Amid the recent correction, the <a href="https://coingape.com/price/render-token/">Render price</a> discovered solid support at the $7 mark. This pivotal level coincides with the 50% Fibonacci retracement level but also intersects with a longstanding support trendline, establishing a robust accumulation zone favored by buyers. 
Utilizing the aforementioned support as base support, the RNDR price develops a bullish reversal pattern called a double bottom in daily charts. This reversal pattern is commonly observed in local market bottoms signaling renewed buying sentiment among market participants. 
<blockquote>
 On May 5th, the Render price gave a bullish breakout from the $9.76 neckline resistance, favoring buyers to lead a higher rally.
</blockquote> 
Moreover, a recent update from crypto analytics firm Santiment highlights that the surge in AI and Big Data projects within the crypto space continues to gain momentum. Notably, <a href="https://coingape.com/render-whales-triggered-the-40-rndr-price-rally-last-week-whats-next/">RNDR</a> has emerged as the top trending asset reclaiming its position above $10. This surge in interest underscores the growing significance of projects within this expanding industry landscape. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f916.png" alt="🤖" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> The <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw">#AI</a> &amp; <a href="https://twitter.com/hashtag/BigData?src=hash&amp;ref_src=twsrc%5Etfw">#BigData</a> surges continue, as <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> projects related to the expanding industry continue to blossom. <a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RNDR</a> (+11%) is seeing rapidly rising conversations as the top trending asset currently. Keep an eye on <a href="https://twitter.com/search?q=%24AIOZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AIOZ</a>, <a href="https://twitter.com/search?q=%24TURBO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TURBO</a>, <a href="https://twitter.com/search?q=%24CIRUS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CIRUS</a>, &amp; <a href="https://twitter.com/search?q=%24DERI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DERI</a> also. <a href="https://t.co/pJBNqXUjzc">https://t.co/pJBNqXUjzc</a> <a href="https://t.co/lZmSmGMGX9">pic.twitter.com/lZmSmGMGX9</a> 
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1787924218593820835?ref_src=twsrc%5Etfw">May 7, 2024</a>
</blockquote> 
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With the <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/">Bitcoin price</a> reverted from $65000, the altcoin market witnessed overhead supply, encouraging the intraday of 2% in Render token. 
If the retest showcases its sustainability above breach $9.75 support, the buyers could drive a rally to $12, followed by $13.8. 
<h2 id="span-style-font-weight-400-technical-indicator-span">Technical Indicator</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">BB Indicator: The upper band of the <a href="https://coingape.com/education/bollinger-band/">Bollinger Band</a> indicator challenge on the upside project the buyers are active towards accumulating this asset.</li> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope upswing at 20% indicates the prior correction helped RNDR price to replenish bullish momentum for a prolonged rally.</li> 
</ul> 
The post <a href="https://coingape.com/markets/render-price-prediction-whats-ahead-rndr-after-surge-50/">Render Price Prediction: What Awaits RNDR After 50% Weekly Surge</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Render Price Prediction: What Awaits RNDR After 50% Weekly Surge

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