Gorilla

Render

2024

bullish

Coin

<p>In a declining market trend, the <a href="https://www.thecoinrepublic.com/price-prediction/render/">Render </a>(RNDR) price gained momentum and recouped over 45% in the last three trading sessions.&nbsp;</p> 
<p>Following the market-improved sentiments, the market leader BTC and other crypto altcoins, including <strong>RENDER, </strong>saw a notable rebound. They tried to shift the gains upward.</p> 
<p>A continuous selling pressure pattern on RENDER in the one-day chart has made a falling channel for the past few weeks. It retested the channel lows of $3 this week.&nbsp;</p> 
<p>Afterward, with the suddenly increased volatility and demand resurgence, the token price took support at the bottom and triggered a bounceback. However, the price was still hovering below the key moving averages and remained in a significant downtrend.</p> 
<h2 class="wp-block-heading" id="h-render-rndr-price-capped-inside-falling-channel"><strong>Render (RNDR) Price Capped Inside Falling Channel</strong></h2> 
<p><strong>Render token</strong> on the daily chart showed a rejection candlestick and gained a reversal in the last trading sessions.&nbsp;</p> 
<p>Taking a reversal from the $3.00 mark, the token has completed the correction phase. It is ready for a reversal ahead.</p> 
<p>The recent correction is due to the broader market selloff and significantly heightened volatility. The token was discounted over 65% from its 52-week high mark of $13.60 in the last three months.</p> <iframe loading="lazy" title="Santiment Chart: Price (RENDER), Volume (RENDER)" width="800" height="425" src="https://embed.santiment.net/chart?ps=render&amp;pt=RENDER&amp;df=2024-02-07T18%3A29%3A59.219Z&amp;dt=2024-08-07T18%3A29%3A59.219Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%228h%22%7D" scrolling="no"></iframe> 
<p>At press time, the Render token traded at $4.91 with an intraday surge of 2.83%. It reflected a minor pullback on the chart. Its trading volume dropped by over 44% to $13.98 Million, signifying decreased buying optimism in the past 24 hours.</p> 
<p>Regarding the market cap, Render was ranked at 45 with a market cap of $1.94 Billion.</p> 
<p>@Crypto Gorilla, in his post, highlighted that the Render token price has retested the demand trajectory and recouped well.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Still seeing green on the charts! Thats GOOOD.<br><br>This week's been rough, so this is far BETTER.<br><br>Feeling good about <a href="https://twitter.com/search?q=%24RENDER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RENDER</a>, it's climbing like a vine! Moving towards $7 already and that's where the next resistance is at! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f98d.png" alt="🦍" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/qE9UHDdrGp">pic.twitter.com/qE9UHDdrGp</a></p>— Crypto Gorilla (@Crypt0_gorilla) <a href="https://twitter.com/Crypt0_gorilla/status/1821068326719602760?ref_src=twsrc%5Etfw">August 7, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>The RSI curve was situated at 35, directing a bearish overview. It has been on the verge of forming a crossover shortly. Likewise, the token was still far from the 20-day Exponential Moving Average, and was willing to retest it soon.</p> 
<p>The price action signified a sell-on high structure, and the token continued to trade under the bearish influence.&nbsp;</p> 
<p>Still, the token loomed below the key moving averages and directed the short-term bearish stance. The declining trend may continue ahead until the token does not cross the $5 mark.</p> 
<p>The follow-on lower low swings with an increased volume activity signified the seller’s optimism to break the channel lower end.</p> 
<h2 class="wp-block-heading" id="h-social-dominance-noted-an-uptick"><strong>Social Dominance Noted An Uptick</strong></h2> 
<p>Amidst the price recovery, the media buzz for the RNDR token noted an increase. </p> 
<p>The incremental move in the dominance curve conveyed increased investor chatter and online discussions on the media platforms.</p> <iframe loading="lazy" title="Santiment Chart: Social Dominance (RENDER), Network Growth (RENDER)" width="800" height="425" src="https://embed.santiment.net/chart?ps=render&amp;pt=RENDER&amp;df=2024-02-07T18%3A29%3A59.219Z&amp;dt=2024-08-07T18%3A29%3A59.219Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bnetwork_growth&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Render token’s network growth&nbsp;remained flat, and a decline was noted. It highlighted a concern regarding the growth aspects amid the market’s negative sentiment.</p> 
<p>The futures Open interest dropped over 6.26% to $17.22 Million. This implied that sellers were trapped at the bottom. As seels began to cover their positions it triggered a price rise.</p> 
<p>The Render token has hovered close to the $5 mark. The first tab for immediate support was around the $4.40 mark. If the level fails to hold, it may slide toward the $3.80 mark.</p> 
<p>Conversely, if it sustains and closes over $5, the bullish wave will lift the token toward the upside mark of $5.90. That would be followed by the $6.20 mark ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/07/render-rndr-price-sees-pullback-key-levels-to-watch/">RENDER (RNDR) Price Sees Pullback: Key Levels to Watch</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

RENDER (RNDR) Price Sees Pullback: Key Levels to Watch

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