RNDR Is at Resistance, Will We See a Breakout?
RNDR is at resistance and could experience a 120%-150% rally if the breakout pans out!
The Details: Render Token (RNDR) is a cryptocurrency that powers the decentralized render network of OTOY. OTOY is a cloud graphics company that provides high-quality rendering services to the entertainment, architectural, and product design industries. RNDR is used to pay for rendering services on the OTOY network and can be traded on various exchanges.
RNDR is at resistance; what now?
Recently, RNDR has been experiencing a strong rally, reaching its highest price since Spring 2022. This increase in price has attracted a lot of attention from investors and traders who are interested in the potential for future gains.
There are two key support levels for RNDR that investors should be aware of. The first support level is between $0.75-$1.00. The second support level is at $0.35, which is the lowest price the token has reached since its inception.
At present, RNDR is trading at the $1.60 level and is attempting to break out of this level. If the token is successful in breaking out, it is likely to head toward the next resistance, which is between $3.50-$4.00. This represents a potential increase of 120% to 150% from the current price.
Bottom Line: In conclusion, Render Token (RNDR) is a cryptocurrency that powers the decentralized render network of OTOY. The token is currently experiencing a strong rally and has two key support levels that investors should be aware of. If RNDR successfully breaks out of its current trading range, it has the potential for substantial gains in the future.