|

RNDR Price Prediction: A 10% rise in sight for Render

  • Render token is up 30% since September and 20% up so far in the month with little signs of slowing.

  • RNDR could extend the gains by 10% to the three-day supply zone at $1.938 with the bulls still in the driver’s seat.

  • Invalidation of the bullish thesis will occur when the altcoin records a three-day candlestick close below $1.384.

Render (RNDR) token has sustained a bullish streak since early last month, with the price action recording higher highs and higher lows. The upside potential remains plausible for RNDR but it depends on how bulls play their hand from here on out.

Also Read: Tether's 40% surge on exchanges to $10 billion hints at bullish momentum

Render token eyes 10% gains

Render token (RNDR) price is up 30% since September and 20% up so far in the month with no signs of stopping. With bulls still taking the lead, RNDR is confronting a supply barrier between $1.938 and $2.035, the supply zone, where aggressive selling is expected. A test of this order block would constitute a 10% surge above current levels.

With profit-taking appetites kept at bay, the altcoin could break past this zone, flipping it into a bullish breaker and possibly extending to clear the equal highs at $2.395. In a highly bullish case, the gains could extrapolate to the range high of $2.804.

The position of the Relative Strength Index (RSI) supports this outlook, climbing to show momentum is still rising. In the same way, the Awesome Oscillator (AO) indicators are in the positive zone after a steady series of green histogram bars, also bolstering the case to the upside.

Chart

RNDR/USDT 3-day chart

Conversely, if the supply zone holds as a resistance level, Render token price could face a rejection. The ensuing selling pressure could plunge RNDR into the demand zone between $1.496 and $1.296. A solid move below the midline at $1.384 could invalidate the bullish thesis, sending RNDR to collect buy side liquidity residing underneath. 

Author

Lockridge Okoth

Lockridge is a believer in the transformative power of crypto and the blockchain industry.

More from Lockridge Okoth
Share:

Editor's Picks

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow
Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.
XRP falls toward key support as macro uncertainty, weak momentum cap recovery
Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.
Crypto Today: Bitcoin, Ethereum, XRP stabilize at lower levels amid ETF outflows and macroeconomic risks
The broader cryptocurrency market is rising on Friday, with Bitcoin (BTC) trading above $77,000 after testing lower support near $76,500. Ethereum (ETH) shows signs of stability, hovering above the support provided at $2,400 despite capped upside at $2,500. Meanwhile, Ripple (XRP) holds above $1.33 after three straight days of declines, reflecting growing headwinds due to macroeconomic uncertainty.
Bitcoin pulls back as another golden cross fails to deliver
Earlier this week, Bitcoin formed a golden cross, a technical signal that occurs when the price’s 50-day moving average rises above the 200-day moving average and is conventionally viewed as a precursor to a bullish rally. Historically, however, that’s often not been the case.
Bitcoin: BTC retreats as macro headwinds grow
Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.