Render Token restarted bullish a few days ago after weeks of retracement. It has posted roughly 70% gains since it bounced back last week and shows no signs of weakness at the moment.
As most altcoins dropped to their two-week low yesterday, RNDR remained calm and further added a few cents over the past 24 hours. The bears are in disbelief right now as they continue to suffer loss.
Volatility looks a bit moderate despite the daily gains but more positive actions are expected to come into play in the next few hours. Although, the price may face major resistance around the $3 mark level, where it saw a rejection last week.
However, looking at the bigger picture on the daily chart, RNDR is technically bullish. But it appeared to have reached an overbought area on the lower time frame, indicating an imminent pullback. The recent rejection at $2.95 is also a pointer to that bearish signal.
If the price advances and pushes above the mentioned mark level, the digital asset could increase extremely in the coming days.
At the time of writing, the momentum looks calm a bit but is yet to fade out in its positive movements. So far, it has returned over 500% in profits since the price started to increase six months ago.
RNDR’s Key Levels To Watch
The immediate resistance level to look out for lies at $3. The resistance level to watch above it is $3.2, followed by $3.4.
In case of pullback, the potential levels to pay attention to are $2.6 and $2.4. If those levels fail to provide support, the $2 level would be the next area to consider for a drop.
Key Resistance Levels: $3, $3.2, $3.4
Key Support Levels: $2.6, $2.4, $2
- Spot Price: $2.8
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.