Render

Resistance

Rise

<ul class="list-ic vertical">
 <li><span>1</span> <a>Render token witnessed a retracement of over 25% in the last month.</a></li>
 <li><span>2 </span> <a>Technical indicators are suggesting a possible rebound.</a></li>
</ul>
<p>The Render (RNDR) token price dragged toward the trendline support zone around $7.60 and is hovering around it. However, the trend is positive, and market dynamics suggest a bounce ahead.</p>
<p>The Render token price has rebounded from the $7 mark and retained the 100-day EMA. This signifies that the token has the potential for upward movement and may soon stretch its pullback toward the $10 mark.</p>
<p>At press time, the <a href="https://www.thecoinrepublic.com/2023/08/28/render-token-price-forecast-2023-will-rndr-keep-falling-or-rise/" target="_blank" rel="noopener noreferrer nofollow">Render token</a> (RNDR) price traded at $7.73 with an intraday gain of 0.56%, reflecting neutrality on the charts. It has a monthly return ratio of -17.89% and 239.28% yearly.&nbsp;</p>
<p>The pair of RNDR/BTC is at 0.000131 BTC, and the market cap is $4.13 billion. Analysts are neutral and suggest that the Render token may fold the gains and will replicate a bounce soon.</p>
<h2 class="wp-block-heading" id="strong-can-render-crypto-split-trendline-hurdle-of-8-strong"><strong>Can Render Crypto Split Trendline Hurdle of $8?</strong></h2>
<p>The long-term trend is bullish, and the Render token may initiate a trendline breakout. The price action highlights the token has stopped the correction and has retained the 100-day EMA mark.</p> 
<p><a href="https://www.tradingview.com/chart/RNDRUSDT/Isc7C30V-RNDR-TOken/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/u/TheCoinRepublic/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p class="has-text-align-center">Source: TradingView</p>
<p>The RSI curve showed a rebound from the oversold region, and a convergence of the signal line with the RSI line was noted on the charts.&nbsp;</p>
<p>The overall trend is neutral, and the token glimpses a short-term buying opportunity. Per the analysis of technical indicators, 8 indicators have given a sell rating, 10 have given a neutral call, and 8 have given a buy call.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-weighted-sentiment-outlook-strong"><strong>Price Volatility &amp; Weighted Sentiment Outlook</strong></h3>
<p>Following the sideways price movement throughout the week, the price volatility remained stable at around 0.019. The lower the volatility swings, the lower the fear among the investors.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (RNDR), Weighted sentiment (Total) (RNDR)" width="1170" height="400" src="https://embed.santiment.net/chart?ps=render&amp;pt=RNDR&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_7-93J0jJaKJ5&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>However, the weighted sentiment data looks negative and stays below the midline region around -0.37, implying bearish sentiments.</p>
<h3 class="wp-block-heading" id="strong-could-positive-development-data-trigger-price-uptick-strong"><strong>Could Positive Development Data Trigger Price Uptick?</strong></h3>
<p>The development activity data noted a consistent up move and remained above the midline, around 0.214, signifying positive data. Meanwhile, the investors are not showing much attention, and uncertain price moves were noted,</p> <iframe loading="lazy" title="Santiment Chart: Development Activity (RNDR), Total Open Interest in USD (RNDR)" width="1170" height="400" src="https://embed.santiment.net/chart?ps=render&amp;pt=RNDR&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_7-93J0jJaKJ5&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity%3Btotal_open_interest&amp;wax=0%3B1&amp;wc=%238358FF%3B%23FF5B5B&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>The derivative data looks neutral, and long, fresh additions were spotted. The open interest data remained stable, a bounce over 0.89% to $75.87 Million.</p>
<p>Per the Fibonacci retracement levels, the Render price is hovering near the 38.2% resistance zone and has taken support on the mid-Bollinger Band.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>The Render (RNDR) token price forms a symmetrical triangle pattern, and the price is close to the trendline hurdle of $8. Moreover, the technical indicators show a neutral cue, and buyer accumulation was noted.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $7.40 and $7</p>
<p><strong>Resistance Levels:</strong> $8.20 and $9</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Render (RNDR) Poised For 30% Rise Ahead, Will Bulls Succeed?

Table of Contents

Thecoinrepublic.com

Outros artigos publicados em 3 de mai. de 2024

Clear Street Boosts Prime Brokerage Division with Key Hires: Impact on Bitcoin (BTC) and Ethereum...

3 Cryptos Under $1 To Buy For Short-Term Gains

JUST IN! OKX Announces It Will List a New Altcoin!

WuBlockchain Weekly: Federal Reserve Adopts Dovish Stance, Debut of Hong Kong Spot ETF, CZ Senten...

How Will Bitcoin’s Next Move Affect Altcoins?

Terra Luna Classic Upgrade Drives LUNC Price Up by 7%

Join our free newsletter for daily crypto updates!