NewsletterRender Price Analysis Today: Buyers in Control Set the $RNDR Price Rally to $3.3; Buy Now?
Render Price Analysis: In the daily time frame chart, the Render token price showed the formation of a rounding bottom pattern. This chart pattern development often reflects bottom formation in an asset and the start of a new uptrend. The series of new higher highs and higher lows observed in the price action reflects the buyers regained trend control and may carry a sustained recovery rally.
Also Read: Top 3 AI Crypto Coins That May Follow Nvidia Price Rally in June 2023
Render Price Daily Chart
- A long-coming trendline governs the ongoing recovery rally in Render coin
- The $2.45 resistance breakout has set the coin price for a 24% rally
- The intraday trading volume in RNDR is $131.5 Billion, indicating a 37% gain.
Source- Tradingview
On May 23rd, the RNDR coin price formed a massive breakout from the last swing high resistance of $2.45. This breakout offered buyers a strong springboard to prolong the bullish recovery rally.
After a minor retest, the coin price bounced back from the $2.45 flipped support and surged 8.3% higher to reach the current price of $2.67. With sustained buying, the buyers may drive the Al crypto 24% higher to hit the next significant resistance of $3.3, followed by $4.3, $6.5.
However, in case of an occasional pullback, the potential buyers can use the ascending trendline to accumulate this coin.
Will Render Price Ready to Hit $3.3?
The formation of a rounding bottom pattern has set the RNDR price on a steady recovery path. Moreover, the recent breakout from the last swing top of $2.45 signals that buyers are ready to reach the higher chart. If the bullish momentum persists, the technical chart shows no major resistance till the $3.3 mark.
- Bollinger Band: The upper band of the BB indicator challenge on the upside project the bullish momentum is aggressive.
- Moving Average Convergence Divergence: A steady rise in the weekly MACD indicator indicates an established uptrend in the Render coin.
- Coinbase Ends $2B BVNK Acquisition Talks Amid Stablecoin Race
- Arthur Hayes Buys UNI as CryptoQuant CEO Says Supply Shock ‘Inevitable’ for Uniswap
- Grayscale Launches Options Trading For Solana ETF as SOL Funds Record 10 Consecutive Daily Net Inflows
- Firelight Confirms November Mainnet as Flare TVL Rises and Xaman Introduces Smart Accounts
- Cardano News: Wirex Partners EMURGO To Launch First Ever ADA Card
- Ethereum Price Outlook as Whales and Institutions Boost Holdings — Can ETH Reclaim $4K Before Year-End?
- Can Dogecoin Price Hold Above $0.17 Amid Weekly Surge?
- Chainlink Price Could Crash as 3 Risky Patterns Form Amid Whale Selling
- Cardano Price Could Reclaim $0.7 After Key Stakeholders Add $204M in ADA
- Uniswap Price Soars 21% on Fee Switch and Token Burn Proposal— Eyes $15 Target
- Bitcoin Price Eyes Bulls as Crypto Market Structure Bill Draft Finally Drops
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
