Render (RNDR) Price Faces Resistance in Bid to Reclaim All-Time High
Wednesday, 22 May 2024, 10:00
Render (RNDR) Price Faces Resistance in Bid to Reclaim All-Time High
Render is trying to break above the upper line of its ascending triangle that has acted as resistance since March.
Key Points:
- Recent Gain: A 10% price hike in the last two days.
- Technical Indicators: RNDR's Parabolic SAR dots above the price, indicating a possible downtrend.
- Negative Sentiment: High MVRV ratio combined with negative online sentiment may lead to a price correction.
If the bearish projection holds, the token might face challenges in breaking above the resistance and fall towards $9.8.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.