Token

Render

Bitcoin

Resistance

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/rndr-token-breaks-resistance-level/" data-wpel-link="internal">RNDR Token Breaks Resistance Level</a> 
Render (RNDR), characterized by low volatility, consolidated within a narrow trading range. The 200 EMA on the 4-hour chart was a crucial support level during this period. The 100 EMA on the 4-hour chart, along with the base line of the 4-hour Ichimoku Cloud, served as significant resistance last week. 
<h2 id="resistance-level-in-rndr">Resistance Level in RNDR</h2> 
However, yesterday, RNDR’s price rose above this resistance. The token’s price tested the upper boundary of the Cloud at $10.8. The $10.8 price level could serve as a significant resistance barrier for the cryptocurrency. A break beyond this level could push the price into the $11.3 to $11.5 range. 
Experts emphasized the importance of monitoring the $10.2 price level as critical resistance for RNDR. The analysis also considers whether the price will continue its upward path to encounter more resistance at $11.3. The report suggested that if <a href="https://en.coin-turk.com/key-developments-in-bitcoin-and-ethereum-options-markets/" data-wpel-link="internal">Bitcoin</a> price continues to rise to the $72,000 to $73,000 range, RNDR is likely to surpass the $11.3 price level. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-359480 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/RDNR.jpg" alt="" width="742" height="422"> 
<h2 id="price-analysis-in-rndr">Price Analysis in RNDR</h2> 
In the 4-hour chart of the cryptocurrency, the RSI rose to 70 as the price traded near the $10.8 resistance level but is now falling. This indicates a potential correction is ongoing. If RNDR breaks down from the Cloud, it could change market sentiment and potentially lead to the price settling between $9.9 and $10.2. The daily Ichimoku Cloud has been a crucial support level, confirmed by price rejection. It also suggested that the bullish momentum would continue. The upper boundary at $10, which remains firm, provides strong medium-term support. 
In conclusion, the analysis closely monitors the price movement around the $10.8 resistance level. A break above this level could indicate further upward potential towards $11.3 to $11.5. Additionally, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are advised to monitor Bitcoin’s price movement, as it could influence RNDR’s trajectory. Especially if Bitcoin continues to rise towards $72,000 to $73,000 in the medium term, it could be important to follow. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/rndr-token-breaks-resistance-level/" data-wpel-link="internal">RNDR Token Breaks Resistance Level</a></h5>

RNDR Token Breaks Resistance Level

Table of Contents

COINTURK NEWS

Other articles published on Jun 5, 2024

Dogecoin, Shiba Inu, PEPE Top Institutional Investors Meme Coin Holdings, How Much Did They Buy?

Bitcoin NFTs achieve the unthinkable $4 billion in sales, challenging Ethereum and Solana

MoonBag Is The Top Crypto Presale In June 2024; BlastUP and Dogeverse Holders Agree

Discover the Best Crypto Staking Platform for Your Investment

MoonBag Presale Rockets Ahead: Dogeverse and BOME Lost in Space!

Why Ethereum Holders Are Focusing on This Altcoin

Join our free newsletter for daily crypto updates!