Will RNDR Continue to Surge?

The Render crypto price is battling giving back gains in the early morning session on Monday. The price has rebounded from yesterday’s low and a strong bullish candle was noted on the 4 hour timeframe which drove the price back near the 20-day EMA.

Moreover,  the price is hovering below the key EMAs, signifying weakness in the short-term. The EMAs have been acting as a dynamic resistance for the price and they have been halting further upward movement. 

RNDR is a utility token that powers the OTOY Render Network, a decentralized platform for 3D rendering. RNDR/USD is currently trading at $3.84, as of January 15, 2024. With a total market cap of $1.40 Billion, it is the 56th largest cryptocurrency by market cap.  

The buyers are batting to surpass the key 20 and 50-day EMAs. However,  the bears are holding on, attempting to defend the upper levels, thus forming a range. The short-term outlook is indecisive as long as the price is maintained in a range.

RNDR/USD may continue to trade in a sideways range, as the RSI and MACD indicators do not show any clear trend direction in the short-term. The price may oscillate between the $3.93 and $3.67 levels, which are the  resistance and support levels, respectively.

Render Crypto Price Technical Analysis 

The broader term indicates a positive bias. The daily chart shows that the RNDR price is significantly higher than the 200-day EMA, suggesting bullishness. The bulls have not surrendered yet as the price has declined near the 50-day EMA and may rebound again. 

In the long-term, RNDR/USD may resume its uptrend, as the MACD line is above the signal line and the RSI is above 50. The price may break above the $4.36 level and target the next resistance level at $5, which is the 161.8% Fibonacci extension level of the previous swing low and high. 

The price may also follow the 200-day  EMA, which is currently at $2.82 as a long-term support level.

Render Price Prediction January 2024

As per the most optimistic view of our analysts, the RNDR price could reach a high of $4.67 by the end of the month. The bearish view of the analysts hopes for a breakdown below the recent support, after which the price may drop to a low of $3.43. 

Render Price Prediction 2024

The price prediction for 2024 shows that the Render crypto may rise to a high of $73.2 by the end of 2024. However, the less optimistic analysts estimate a price target of $5.34 by the end of 2024. 

Render Price Prediction 2025

As per the most positive view of our analysts, the price may attain $8.78 by 2025, suggesting an upside potential of 127.23%. On the other hand, the most pessimistic view expects the price to reach $7.32 by the end of 2025.

Render Price Prediction 2026 

From  the most optimistic view, the Render crypto could reach a high of $10.74 in 2026. On the other hand, the most pessimistic prediction of our analysts is that the price would reach $8.601. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.