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Render price prediction showcases the consolidation phase of RNDR crypto over the daily time frame chart. - 2
RNDR crypto is trading above its 200-days DMA and is still below 20, 50 and 100-days DMAs. - 3
The pair of RNDR/BTC was at 0.00006391 BTC with an intraday gain of 2.32%.
Render price prediction showcases the consolidation phase of RNDR crypto and analysts believe now is the time for a breakout. RNDR crypto has been consolidating inside the horizontal price range of $1.838 and $2.25. RNDR must attract more buyers in order to surge towards the upper price range of the horizontal range-bound area. Moreover, Render price must surge with strong uptrend momentum and sustain at the upper threshold to register its breakout.
Render price was at $1.933 and has gained 3.75% of its market capitalization during the day’s trading session. However, trading volume has decreased by 1.90% during the intraday trading session which demonstrates that buyers are trying to push RNDR crypto towards the upper price limit. Volume to market cap ratio was at 0.0471.
Render Price Prediction: Technical Analysis
Render price prediction showcases the sideways momentum of RNDR cryptocurrency inside the horizontal price range. However, RNDR crypto is trying to surge towards the upper price range of the consolidation phase. Meanwhile, trading volume is below average and needs to grow during the day’s trading session. For the time being, RNDR crypto is trading above its 200-days DMA and is still below 20, 50 and 100-days daily moving averages.
Render price has gained 0.06% in a week and 1.91% in the last three months. RNDR crypto has gained tremendously in the last six months (about 176.78%) and 381.77% year to date. This confirms the analysis that RNDR crypto may surge maximum during 2023. Render price soared 212.40% in a year.
Technical indicators suggest an upside trend for Render price. The relative strength index showcases the uptrend momentum of RNDR crypto. RSI was at 45 and is heading towards neutrality.
MACD exhibits the consolidation phase of RNDR crypto. The MACD line is flat below the signal line and is waiting for any type of crossover. Investors in Render cryptocurrency need to wait until the RNDR crypto price breaks out from the consolidation phase.
Summary
Render price prediction showcases the consolidation phase of RNDR crypto and analysts believe now is the time for a breakout. However, RNDR crypto is trying to surge towards the upper price range of the consolidation phase. Moreover, Render price has gained 0.06% in a week and 1.91% in the last three months. Technical indicators suggest the upside trend of Render price. Investors in Render cryptocurrency need to wait until the RNDR crypto price breaks out from the consolidation phase.
Technical Levels
Support Levels: $1.838 and $1.80
Resistance Levels: $2.04 and $2.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/07/20/render-price-prediction-will-rndr-crypto-skip-consolidation/