The post Render Price Analysis: RNDR Price Signals A Bullish Move! Right Time To Buy Render Token? appeared first on Coinpedia Fintech News
The crypto market experiences a pullback in its price as major cryptocurrencies display a bearish sentiment in their charts. Bitcoin price and top altcoins continue to lose momentum, but on the other hand, the Render price has turned out to display a bullpower in its chart.
The RNDR price has gained more than 20% in value since the start of October. The coin has been trading with the support of the ascending trendline since the start of September.
Following the Golden Cross, the RNDR price experienced a correction, after which the coin gained momentum and is currently trading in an ascending channel. The coin had made multiple attempts to break out of the trend but got rejected every time.
TradingView: RNDR/USDT
Further, the token is currently hovering around its resistance level of $1.801 and taking bullish steps to get further away from the support trendline. Recently, the Render token made an attempt to break down the channel, but the bulls managed to hold the price strong.
Also Read: SHIB Price Displays A Bearish Flag Pattern! Is Shiba Inu Price Losing Momentum?
The MACD has displayed massive price volatility since the start of the month. Further, the chart displayed a decline in the red histogram, indicating the price to undergo a massive price action this week.
If the Bulls regain its price above the resistance level of $1.801, the price will ignite a bullish momentum in its charts and continue rising in the coming days. Further, if the market holds the price above that level, the RNDR token will prepare itself to test the upper resistance of $1.870 soon.
Conversely, if the bears gain power over the market and break the channel, the token will start trading under the bearish influence and test its support level of $1.730. Moreover, if the bulls fail to gain momentum, the price will continue to fall and test its lower support zone of 1.626 in the coming days.
