Can RNDR Crypto Price Surge & Retest Supply Zone?

The Render Token has shown an upward movement as it surged greatly from the demand zone at $2.00 and rose hassle-free in a parallel wedge all the way around up to $5.00.

Subsequently, it broke through the lower boundary of the wedge pattern and reached $3.36. At this juncture, sellers are consistently testing this level, yet the RNDR price has demonstrated persistent resistance to selling pressure, indicating a robust rejection by sellers.

The RNDR asset is exhibiting bullishness and can reach higher levels. It has displayed good performance in the previous week and quarter, as it rose by 3.11% and 64.97% respectively, signifying a strong upward momentum.

Can RNDR Crypto Price Break Out of the Range Soon?

At press time, the crypto is experiencing a surge of 2.86% in the last 24 hours, trading at $4.0896. Meanwhile, Looking at the chart on the Coinglass website, it can be seen that the RNDR asset volume was declining from the $76 Million volume mark and it hit the $56 Million mark. After sustaining for a while, the volume chart indicates a gain of interest and activity.

The RNDR crypto looks on the verge of an explosive breakout, as it gathers momentum to shatter the ceiling and fly higher and higher from the current base zone.

Therefore, if the demand for the Render token surges, the asset price could continue advancing from the current level and it could test the supply level again. In that case, the next goal for the RNDR price could be to reach $4.4100.

The crypto’s price remains above the major 20 and 50-day EMAs, signaling strong bullish momentum and suggesting a potential upward surge beyond the current levels.

Furthermore, the RNDR asset is showing bullish momentum as the MACD is at -0.0461 with a bullish cross formation and the RSI is rising by taking support from the 14 SMA, indicating that the Render crypto asset is not losing steam and can continue to climb higher.

However, if the RNDR crypto price fails to stay above the $3.3686 level, it could decline further.

Summary

The RNDR asset is exhibiting bullishness and it can reach higher levels. It has displayed good performance in the previous week and quarter. Moreover, the volume chart indicates a gain in interest and activity for the RNDR cryptocurrency.

Therefore, if the demand for the Render token surges, the asset price could continue advancing from the current level and could test the supply level again. In such a scenario, the next goal for the RNDR price could be to reach $4.4100.

Technical Levels

Support Levels: $3.3686

Resistance Levels: $4.4100

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.