Render (RNDR) Price Faces Resistance in Bid to Reclaim All-Time High

Wednesday, 22 May 2024, 10:00

Render (RNDR) is currently attempting to break above the upper line of an ascending triangle, facing resistance since March. With a recent 10% price increase in two days, if the bullish momentum continues, it might surpass this barrier. However, indicators suggest bearish pressure remains, which could hinder the token's upward movement.
https://store.livarava.com/b26a9f37-1822-11ef-a3d0-9d5fa15a64d8.png
Render (RNDR) Price Faces Resistance in Bid to Reclaim All-Time High

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.


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