👀 According to AMBCrypto: $RNDR 20% Surge Halts

Though these aforementioned metrics looked bearish, things might turn out to be different. Popular crypto analyst Crypto Tony recently posted a tweet mentioning how he expects an AI tokens season to arrive.

To check whether that possibility is likely to happen in the short-term, AMBCrypto then took a look at RNDR’s daily chart. As per our analysis, the MACD displayed a clear bullish upperhand in the market.

Its price was also resting well above its 20-day Simple Moving Average (SMA), which can be inferred as a bullish signal. 

Nonetheless, the rest of the indicators suggested otherwise. For example, the token’s price touched the upper limit of the Bollinger Bands, which often results in price corrections.

The Chaikin Money Flow (CMF) also registered a sharp downtick and was headed under the neutral mark at press time.

These two indicators hinted that Render bears were stepping up and might push the token’s price down in the near term.