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RENDER TECHNICAL ANALYSIS CMP-$2.88: Do Bulls Pause for the Next Jump?

Key Takeaways
  • Render experienced a remarkable surge of 31.04% in anticipation of its upcoming listing on Binance Japan scheduled for November 27.
  • The rally is driven by strong community support for the RNP-007 Proposal.
  • Despite achieving a 21-month high, Render's price has dipped by 3.50% in the last 24 hours.
17-Nov-2023 By: Lokesh Gupta

RNDR protocol, AI-based, sees sharp price surge

  • RNDR price exhibits a significant uptrend since September, marking a remarkable 122% increase in just 60 days.

  • Altcoins surpassed the crucial $2.25 level at the beginning of October, providing strong support for RNDR's price, consistent since March 2021.

  • Breaking a 1.5-year resistance, RNDR's price surged past the $3.30 barrier.

Technical Views:-

  • According to Coingabbar Technical Analysis, Render's price has overcome a bearish trend observed earlier this month.

  • On the daily chart, RNDR faces challenges in maintaining position above the Neckline of the Rounding Bottom Pattern.

  • Post Golden Crossover, RNDR's price surged by nearly 50% from the breakout level.

  • All technical indicators point to an upward movement, including RSI, Ichimoku Cloud, MACD, and Super Trend.

  • If RNDR can sustain above $3.30, potential targets lie at $4.40-$5.50; failure to surpass may lead to a dip around $2.50-$2.00.


RESISTANCE LEVEL : $3.10-$3.30

SUPPORT LEVEL : $2.60-$2.30

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.