Render (RNDR) has been on an upward trend, showing promising signs for future gains.
As of press time, Render was trading at $6.64 with a 24-hour trading volume of $357.58 million, representing a 3.29% increase over the last day.Â
Over the past week, the token has surged by 8.68%, bringing its market cap to approximately $2.6 billion, with a circulating supply of 390 million RNDR.Â
With a strong support base and growing interest in AI-powered blockchain projects, Renderâs price momentum has drawn attention from investors.
Render is also part of Grayscaleâs decentralized AI fund, which offers exposure to leading altcoins like Near Protocol (NEAR), Bittensor (TAO), and Filecoin (FIL), further increasing its appeal among institutional investors.
Key Resistance at 7.00 USDT
Technical analysis indicates that Render is approaching a crucial resistance level at 7.00 USDT, which has historically served as a significant horizontal support/resistance zone. A breakout above this level could pave the way for a strong upward move, with a potential target set around 11.16 USDT. If Render successfully breaks through the resistance, this target represents a potential 56.03% increase from current levels.
Source: TradingView
If Render breaks the 7.00 USDT resistance, it may return to this level before continuing its upward trend toward the next resistance at 11.16 USDT. On the downside, 4.00 USDT serves as a strong support level. Should the price fall back and test this support, it may provide buying opportunities for traders or indicate a deeper correction.
RSI and Bollinger Bands Signal Caution
The Relative Strength Index (RSI) for Render currently stands at 65.77, indicating that while the token is showing bullish momentum, it is approaching overbought conditions. An RSI above 70 is typically seen as a signal of overbought conditions, which could lead to a potential correction or consolidation phase.Â
If the RSI stabilizes in the current range, the upward trend may continue before reaching overbought levels. However, traders should monitor the RSI closely as a rise above 70 could trigger a short-term pullback.
Source: TradingView
The Bollinger Bands are also widening, suggesting increased market volatility. The price is nearing the upper Bollinger Band, indicating that the asset is approaching potential overbought territory. A touch or breakout beyond the upper band could signal a pullback, although continued price movement within the bands suggests the current momentum is strong.
Aroon Indicator Shows Strong Uptrend
The Aroon Indicator further confirms the strength of the uptrend. The Aroon Up line is at 71.43%, while the Aroon Down sits at 7.14%, signaling that the bullish momentum is intact, with few signs of recent price lows. When the Aroon Up is above 70% and the Aroon Down remains low, it typically suggests the uptrend is continuing.
This technical setup suggests that Render is in a strong position, but traders should keep an eye on any shifts in the Aroon Indicator. A crossover of the Aroon lines could signal a potential trend reversal.
Volume has been relatively stable over the past few days, without significant spikes. While volume is supporting the ongoing price movement, a surge in volume could further confirm the strength of the current bullish trend.Â
Conversely, declining volume during the upward trend may indicate weakening buying pressure, potentially leading to a correction.
If volume increases alongside price movement, it could reinforce confidence in the bullish outlook, signaling that more investors are entering the market. Traders should closely watch for volume spikes to gauge the strength of the ongoing trend.
The post Render (RNDR) Price Prediction October 1: Render Nears Key Resistance as Price Surges, Bullish Breakout Ahead? appeared first on Coinfomania.
