The price of Render (RNDR) has significantly increased, rising 28% over the past month, making it the 3rd largest AI cryptocurrency by market capitalization, following FET and TAO.
Recent indicators show that strong optimistic sentiment is ongoing, with increased social activity and favorable technical patterns. The surge in both social presence and price performance indicates growing interest from investors in RNDR.
RNDR Ranks Just Behind FET in Social Dominance
Render (RNDR) has climbed to the 2nd position in social dominance among the top 5 AI coins, with its social presence nearly doubling over the past seven days.
The frenzy in social activity reflects growing interest and discussion around RNDR, which likely contributed to its recent price performance.
During the same period, the price of RNDR has risen nearly 40%, making it the 2nd biggest winner among the top AI coins, only behind AIOZ Network, which saw a 73% increase.
RNDR has outperformed other prominent AI projects like TAO, FET, and WLD, standing out with strong momentum in the market.
RNDR BBTrend is Approaching Level 5
Render BBTrend has remained positive since November 8, reaching a monthly high of 12.7 on November 10. BBTrend, or Bollinger Band Trend, is an indicator that measures momentum related to the Bollinger Bands.
A positive BBTrend indicates that positive momentum is pushing the asset's price, while negative values indicate a negative trend.
After peaking at 12.7, RNDR BBTrend fell to 1.17, indicating that upward momentum has significantly decreased. However, it has begun to recover and currently stands at 4.83, indicating a slight but positive increase in momentum.
This recovery may indicate that buying interest is stronger, and if the current positive sentiment is maintained, the trend could continue to build strength.
RNDR Price Prediction: Can RNDR Break Through $9 Soon?
The EMA lines of RNDR are indicating a strong positive sentiment, with the price positioned above all exponential moving averages.
Furthermore, the short-term EMAs are stacked above the long-term lines, confirming that the current momentum is positive and buyers are in control. This setup suggests that the upward trend could continue if market conditions support it.
RNDR Price Analysis. Source: TradingView.
If the current upward trend continues, the price of RNDR could soon test the next resistance level at $7.94. Breaking through that resistance could push the price higher, targeting $9.46, representing a potential increase of 34%. This would solidify Render as one of the top three AI cryptocurrencies.
However, if the upward trend loses momentum and reverses, RNDR could fall back to the support level at $5.83. If that level cannot hold, the price could drop further to $5.03, signaling a stronger correction.
Stay tuned @TinTucBitcoin for the latest updates.
#tintucbitcoin #Write2Win #btc #binance #bitcoin $BTC $ETH $BNB
