Render Token Price Analysis: RNDR Up By 2.88%, Time to Buy?


  • Render Token shows bearish momentum over the weekend.
  • Current Render Token Price is 1.93 dollars
  • RNDR’s intraday volume stands at $34,139,734.00.
  • RNDR/USD pair trading above EMA(20).

22 April 2024 : In this article we will walk you through Render Token price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Render Token, Is RNDR a good investment? Render Token support & resistance levels etc. But before diving deep into the RNDR technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,437,443,439,232. The total trading volume stands at $62,944,480,861. Bitcoin shares 53.53 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $66,270.32 level after an upward movement of 1.78%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.33 percent reaching to $3,226.07 during the previous 24 hours.
While publishing this blog, BNB traded at $605.56, following a price change of 5.03% within the same time frame. SOL the native coin of Solana is up by 2.73 and currently trading at $154.76. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Render Token Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Render Token (RNDR)

RNDR Resistance Levels RNDR Support Levels
Resistance Level 1 $0.47 Support Level 1 $0.37
Resistance Level 2 $0.52 Support Level 2 $0.32
Resistance Level 3 $0.57 Support Level 3 $0.27

Render Token Performance

The daily chart of Render Token shows that the RNDR price has surged up with a 2.88% increase in past 24 hours. The price value of the Render Token (RNDR) coin is standing at $1.93 with market capitalization $715,031,337.00 USD. RNDR price changes -2.83% over the week while the trading volume is hovering around $34,139,734.00 USD.

Render Token Price Analysis

RNDR price analysis for 22 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Render Token.

Moving Averages Price Indicator
Simple Moving Average (10) 0.43 Buy
Exponential Moving Average (10) 0.43 Buy
Simple Moving Average (20) 0.45 Buy
Exponential Moving Average (20) 0.45 Buy
Simple Moving Average (50) 0.48 Buy
Exponential Moving Average (50) 0.48 Buy

While RNDR’s Williams %R indicator is at -67.065 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing below of the signal line after a crossover. Render Token investors need to wait for any directional change over the daily chart. The Relative strength index (RSI) for RNDR Coin is currently hovering at 25 for 14-days average line, which means RNDR is in oversold zone and a trend reversal is possible.

Conclusions

From the technical analysis, the overall trend of the Render Token is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if RNDR manages to stay above $0.37, it can provide an excellent long opportunity for RNDR communnity.