$RNDR price analysis..........🚀🚀🚀
Render (RNDR) has been in a corrective phase for several days, but the bulls are trying to make a comeback by pushing the price above the downtrend line.
#RNDR/USDT daily chart. The 20-day EMA ($8.90) has flattened out, and the RSI has risen to the midpoint, suggesting that the bears are losing their grip. If the price maintains above the 20-day EMA, the RNDR/USDT pair is likely to rise to the 50-day SMA ($9.95) and then to $12.
Instead, if the price turns down and sustains below the 20-day EMA, it will suggest that the breakout may have been a fake move. The bears will then try to pull the price to $7 and later to $6.
RNDR/USDT 4-hour chart. The moving averages have completed a bullish crossover, indicating advantage to buyers. However, the bears may pose a strong challenge at $9.50. If the price turns down from the overhead resistance but takes support at the 20-EMA, it will suggest a change in sentiment from selling on rallies to buying on dips. That will enhance the prospects of a rally to $10.50.
Contrary to this assumption, a break and close below the moving averages will suggest that the recent breakout was a bull trap. The pair may then descend to $7.
