RNDR Token Price Could Rally to $20, But There's a Catch

Analyst Crypto Patel has shared insights on the price movements of RENDER, suggesting a potential upward surge. According to his analysis, the token's current price action hinges on the crucial $4 support level.

Cryptocurrency technical analyst Crypto Patel has shared his insights on the price movements of RENDER, suggesting a potential upward surge. His analysis indicates that the token’s current price action hinges on the crucial $4 support level.

According to Patel’s analysis, if RENDER manages to hold this support, it could set the stage for a significant rally, with the next resistance level standing at $6.50. Breaking through this resistance could open up further upside potential, with Patel optimistically targeting a price of $20 for the token.

However, if the token fails to hold the $4 support level, a more severe drop could follow, potentially driving the price down toward the next support at $1.50. Patel’s analysis points to these levels as critical markers for future price movements, giving traders clear zones to monitor.

Patel’s analysis is based on the technicals of RENDER's price chart, using key support and resistance levels to gauge the direction of the token’s price. These levels are often used by traders to identify potential entry and exit points in the market.

At the time of writing, RENDER is trading down about 1% over the past 24 hours at a price of $4.18, according to CoinGecko. The token has slipped about 20% over the past week, but is still up more than 1,000% year-to-date.

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