Render (RNDR) Price Prediction: Will Recent Decline Continue or Rebound Soon?
- PHPzOriginal
- 2024-08-01 03:30:09484browse
Render price has been declining recently following the market correction. As of the time of writing, RENDER price is trading at $6.02 during the 24 hours, dipping 3% during U.S. trading hours.
The price of Render (CRYPTO: RNDR) has seen a downturn recently, following a broader market correction. At the time of writing, Render was trading at $6.02, having seen a 3% decrease during the 24 hours of U.S. trading. The AI-based altcoin has been seenを中心にぶれるing around the $5.90 level, with slight fluctuations indicating a volatile market sentiment towards the token.
However, Render has seen a consistent demand since the beginning of July, and despite the broader market showing gains, Render was seen experiencing a notable decline in demand last week. This drop in demand has raised concerns that Render’s price might soon be seen dipping below its established support levels.
Render Price Forecast: Key Levels To Watch As RNDR Continues To Slide
Render has been seeing a downturn recently, following a broader market correction. At the time of writing, RENDER was trading at $6.02, having seen a 3% decrease during the 24 hours of U.S. trading. The AI-based altcoin has been seenを中心にぶれるing around the $5.90 level, with slight fluctuations indicating a volatile market sentiment towards the token.
However, Render has seen a consistent demand since the beginning of July, and despite the broader market showing gains, Render was seen experiencing a notable decline in demand last week. This drop in demand has raised concerns that Render’s price might soon be seen dipping below its established support levels.
Render Price Forecast: Key Levels To Watch As RNDR Continues To Slide
The support level for Render is currently at $5.80. If bears mount pressure and the support at $5.80 breaks down, the price could potentially fall to $5.50 or even $5.30, indicating a bearish trend and possible further declines.
The 4-hour technical indicator for RNDR shows a bearish signal. The Relative Strength Index (RSI) is at 37, indicating that the asset is nearly oversold. If the trend reverses upwards from this level, this suggests a potential buying opportunity. The 20-Exponential Moving Average is positioned below the 50-EMA, indicating the momentum favoring sellers.
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