- RNDR token shows bullish continuation action in the recent sessions.
- Bulls persist to attain strength while holding the gains.
Render token ( RNDR) stayed in a bullish zone and continued to surge with trading inside the rising parallel channel. Moreover, the token price shows a bull action in the past trading sessions showing buyers had accumulated the token from the support of $1.80. After that, the token continues to bounce and claim bullishness. The token maintains the gains forming higher highs and higher lows sequences.
Furthermore, the RDNR token favors bulls, and sellers remained cautious about folding their positions in the past few trading sessions. The price action shows that bulls persist in gaining traction, and the token escaped above the congestion zone. Moreover, RNDR traded above the significant moving averages and floated the bullishness.
Render token price is near to taking support on 20-day EMA. After retreating above the key EMA, the token is willing to retest the support mark of $2.500 and will proceed for a further bounce.
When writing, the RNDR token trades at $2.53 with an intraday gain of 1.57% showing bullish indications. Moreover, the pair of RNDR/BTC is at 0.000093 BTC, and the intraday trading volume showed a massive upside of 17.70% to $158.08 million. The day high of RNDR is $2.674, and the day low is $2.492. The market cap of RNDR is $1.36 Billion.
Daily Chart Formation of RNDR
On the daily charts, the RNDR token shows a buying action, and the chart shows a falling wedge pattern where the bull’s attaining strength. However, buyers try to crack the top neckline of $2.700, but buyers lose the grip and drop again to the previous mark to get support on 20-day EMA.
Moreover, the token faces multiple resistance and is willing to eliminate the resistance marks.
As per the Fib levels, RNDR price is near the strong support level of 78.6%, where bulls will get a bounce, but if the price breaks the range, the token will head towards the mark of $2.100. Buyers persist in finding a way to attain a pullback further.
Short Term charts Shows Retracement in RNDR price
On the 4-hour charts, the token showed a mild negative due to the seller’s activation of the token, who started to make profit booking after the surge in token price.
The RSI is now floating near the neutral marks and remains cautious, whereas a negative crossover on the curve is also noted.
The MACD indicator tells something different based on the recent retracement; it shows bearishness but doesn’t last long as moving averages converge.
Conclusion:
RNDR token has reversed from the top of $2.700, where bulls could not cross and showed a throwback by sellers.
Technical Levels:
Support Levels: $2.200
Resistance Levels:$2.800
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.