Render Token (RNDR) remains a focal point for investors, given market movements and rebranding announcements lately. While its price saw a decline, analysts suggest a potential rebound based on market support levels and strategic changes.
Render (RNDR) Price Predictions
AMCryptoAlex, a top crypto analyst, shared insights on RNDR’s price movement. He noted that RNDR remains in an uptrend but warned of potential consequences if this trend breaks.
“If it breaks below this uptrend, a big dump could follow,” AMCryptoAlex cautioned. However, he also presented an optimistic scenario, suggesting a $10 target by August if the token bounces back.
Similarly, MrCryptosis observed that RNDR is maintaining its $6 support level, suggesting a bullish outlook.
$RNDR still holding this $6 support level.#AI coins been taking a little time outbut once they pump again, #RNDR will be up there with all the top gainers Weekly RSI is at the exact same level as when #rndr bottomed out last year $25 is programmed pic.twitter.com/VvzJlFQZH1
— #MrCryptosis (@MrCryptosis) July 11, 2024
He emphasized that AI coins are temporarily in a lull, but once they regain momentum, $RNDR could emerge as a top gainer. According to him, the Weekly RSI matches the levels seen when $RNDR bottomed out last year, predicting a rise to $25.
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Show more +Show less – Addressing Fake News and Rebranding
The token’s recent price drop is partly attributed to misinformation. Wise Advice clarified that Binance is not delisting RNDR. Instead, the token is rebranding to RENDER.
As part of this process, Binance will delist RNDR and list RENDER, ensuring holders receive new tokens at a 1:1 ratio. This clarification aims to stabilize the market and reassure investors.
Binance is Not Delisting RNDR This is fake news, which has caused the $RNDR dump. RNDR token is rebranding itself to RENDER, so #Binance will delist #RNDR and list RENDER. Everyone who holds RNDR will get RENDER tokens at a 1:1 ratio. pic.twitter.com/M3599iolW2
— Wise Advice (@wiseadvicesumit) July 12, 2024
Read also: Kaspa Price Prediction – Here’s Why KAS Is Booming
Render’s Price Action Data
According to CoinGecko, Render’s price stands at $5.82, reflecting an 8.95% decline over the past 24 hours and a 5.62% drop over the past week. The daily trading volume is $228,106,930, indicating market activity.
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The post Render Token Braces for Rebound: Analysts Project $25 RNDR Target Amid Fake Binance Delisting News appeared first on CaptainAltcoin.