Token

Render

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Render price experienced fluctuations over the past 24 hours after a bearish trend. The altcoin is trading in a descending pattern, breaking below the $7 level amid market corrections.&nbsp; The cryptocurrency market experienced notable volatility recently. The AI-based altcoin was trading at $6.41 during the European trading session, marking a decrease of 2%.&nbsp; 
The trading volume has seen a dip of 28%, indicating reduced trading activity. According to <a rel="nofollow" href="https://coinmarketcap.com/currencies/render/">CoinMarketCap</a> data, the current market capitalization stands at approximately $2.6 billion, positioning Render as the 31st largest cryptocurrency by market cap. 
<h2 id="strong-render-price-dips-amid-market-corrections-strong">Render Price Dips Amid Market Corrections&nbsp;</h2> 
<a href="https://coingape.com/price/render-token/">Render price</a>&nbsp; behavior has been lackluster over the past week, with a 3% decrease. This decline is part of a 20% drop observed over the previous month, signaling a persistent bearish trend for the AI-centric cryptocurrency.&nbsp; 
<figure id="attachment_207074" aria-describedby="caption-attachment-207074" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-207074" src="https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_17-44-28.png" alt="Render Price Action Pivots On Binance Support For Token Swap and Rebranding" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_17-44-28.png 1154w, https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_17-44-28-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_17-44-28-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_17-44-28-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-207074" class="wp-caption-text">
 Render Price
 </figcaption>
</figure> 
Currently, The AI-based altcoin oscillates between $6.3 and $6.7 as market forces vie for dominance, though recent trends favor the bears. 
<h2 id="strong-bnb-supports-render-s-transformation-with-upcoming-token-swap-strong">BNB Supports Render’s Transformation with Upcoming Token Swap</h2> 
The leading <a href="https://coingape.com/cryptocurrency-exchanges/">cryptocurrency exchange</a>, Binance, has endorsed the transformation and rebranding of the Render token, previously known as RNDR. As part of this endorsement, <a rel="nofollow" href="https://www.binance.com/en/square/post/10601055529425">Binance</a> announced the removal of existing RNDR trading pairs, including pairs like RNDR/BTC and RNDR/USDT.&nbsp; 
This action is set for July 22, 2024, at 06:00. Binance will also cancel any open orders involving RNDR. Following the delisting, Binance plans to introduce new trading pairs under the RENDER ticker.&nbsp; 
<h2 id="strong-can-bullish-traders-push-the-price-beyond-7-soon-strong">Can Bullish Traders Push the Price Beyond $7 Soon?</h2> 
The bearish momentum has continued to impact the Render price, potentially driving its value down below the $6.50 support zone. Increasing pressure from sellers might further reduce its price to around $6.30, underscoring a negative outlook. If the downward trend persists, RNDR could see a drop to a low of $6.20, indicative of a significant market retreat. 
On the flip side, if bullish traders regain control, Render price could climb past the $6.60 resistance level. Breaking past this barrier might boost the token’s value to $7. A sustained positive trend could push its price toward $10, signaling a robust upturn in investor confidence. 
<figure id="attachment_207076" aria-describedby="caption-attachment-207076" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-207076" src="https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_16-59-19.png" alt="Render Price Action Pivots On Binance Support For Token Swap and Rebranding" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_16-59-19.png 1154w, https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_16-59-19-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_16-59-19-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/07/RNDRUSD_2024-07-11_16-59-19-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-207076" class="wp-caption-text">
 Render Price chart| Source: <a rel="nofollow" href="https://www.tradingview.com/x/fvZoGwsG/">TradingView</a>
 </figcaption>
</figure> 
The Bollinger Bands on the 4-hour price chart for Render show a narrow trading range, suggesting low volatility in recent sessions. The upper Bollinger Band hovers around $6.69, while the lower band is at $6.47. This tight channel indicates that RNDR has been trading within a constrained price range. 
The <a href="https://coingape.com/glossary/rsi-relative-strength-index">Relative Strength Index </a>(RSI) on the same chart is 49.59, close to the neutral 50 mark, which indicates the market’s lack of strong momentum in either direction. The Moving Average Convergence Divergence (MACD) shows a convergence of the MACD line and the signal line, suggesting that the market might be gearing towards a bullish. 
The post <a href="https://coingape.com/markets/render-price-action-pivots-on-binance-support-for-token-swap-and-rebranding/">Render Price Action Pivots On Binance Support For Token Swap and Rebranding</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Render Price Action Pivots On Binance Support For Token Swap and Rebranding

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