- Render Token Price Prediction stays bullish and suggests a rise in the long run.
- The RNDR crypto price is trading between the 50 and 200 day EMA.
- RNDR Price is consolidating in a narrow range between $1.600 to $2.500.
Render Token Price Prediction is bullish till it sustains above $1.00 support. It suggests a rise in the long run if certain conditions are followed.
RNDR crypto price seems to be consolidating in a narrow range $1.600 to $2.500. Buyers are trying their best to expand the range upward which will further boost the momentum.Â
Render Token Price struggles to sustains above the 50 day EMA showcase mild bearishness. However, the buyers still defend the 200 day EMA indicating the positional trend is in upward direction.
In the mid of March, RNDR Price took support near $1.00 and slowly it began to recover by forming higher high swings. During the recovery, RNDR Price breakout of the previous swing high hurdle at $2.200 which created a hope for further rally.
Render Token Price tried to achieve the $3.00 mark but sadly due to the presence of strong sellers they failed. Later, it consolidated for a few weeks near the supply zone but sellers won the battle and prices reverted down.
Render Token Price is trading at $2.025 with an intraday rise of 1.61%. The 24 hour volume to market cap is 4.38%. The pair of RNDR/BTC is trading at 0.0000659 with an intraday rise of 1.38%.
Will Render Token Price Perform well in coming months?
Render Token Price performed well in the past few months and generated decent returns for the long term investors. Presently, the prices seem to be consolidating for the base formation.
Till RNDR Price sustains above the $1.500 the probability of bounce back remains high. Well the prices will pick up momentum when buyers succeed to break out of the $2.400 hurdle.
The next phase of rally in RNDR crypto will be visible when buyers are able to hold the higher levels.
On the other hand, if the price drops below the $1.500 then the short term trend will turn bearish. It will negatively impact the sentiment of investors which may result in further selloff.
RNDR crypto forming Doji candles
RNDR crypto price forming Doji candles on a weekly time frame showcase indecisiveness. If the price continues to consolidate for a few more weeks then the probability of upward range expansion will substantially increase.
The MACD curve is sloping sideways but buyers are trying their best to display a positive crossover. The histogram bar is on rise indicates mild bullishness. The RSI curve at 50 denotes neutral territory and equal level of tug of war between buyers and sellers.
Conclusion
Render Token Price Prediction stays bullish and suggests a significant increase in the value is possible.
RNDR crypto is consolidating for the base formation and we might see a higher range expansion in coming months. If the RNDR price succeeds to break the $2.400 hurdle with a strong volume then it might begin the journey to reach $5.00.
Technical levels
Resistance levels: $2.400 and $2.963
Support levels: $1.500 and $1.000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
