0%
Render (RNDR) Surges into the Top 50 with a 1,100% Price Spike
#Trading#TradingView#RSI+2 meer tags

Render (RNDR) Surges into the Top 50 with a 1,100% Price Spike

Witness the spectacular rise of Render ( RNDR), now among the top 50 cryptocurrencies with a jaw-dropping 1,100% price surge in 2023. Explore its remarkable journey, recent breakout, and insights from other crypto enthusiasts.

The Render (RNDR) cryptocurrency has undergone a spectacular rally this week, marking substantial gains following a brief bearish period. As RNDR surges, it has nearly reached an impressive high of $5, prompting crypto enthusiasts to contemplate the possibility of it breaking through this milestone in the coming month.

RNDR Records Impressive Growth
RNDR Records Impressive Growth

Chart by TradingView

RNDR's Accelerated Upward Trajectory

RNDR has delivered a remarkable, bullish performance throughout the year, boasting an astonishing 1,100% price surge since the beginning of January. This astounding run culminated in RNDR reaching a new yearly peak of $4.87, marking its highest valuation in over 700 days.

One of the pivotal moments in this surge was RNDR's alt="RENDR Records Impressive Growth Chart" />

Chart by breakthrough from a critical horizontal resistance zone, firmly established since April. This breakout has further accelerated the pace of its ascent, bringing the cryptocurrency tantalizingly close to an all-time high.

The Relative Strength Index (RSI) serves as a crucial momentum indicator for traders, aiding them in gauging whether a market is overbought or oversold, and consequently, whether to buy or sell an asset. When the RSI surpasses 50 while indicating an upward trend, bulls retain the upper hand.

Currently, the weekly RSI stands above 50. However, it is trending downwards, and for the rally to continue, the RSI must stay above 50.

Additionally, for RNDR to continue its uptrend, it will need to stay above the 200 Exponential Moving Average (EMA). The 200 EMA works as a mobile support and resistance, and once the price breaks above it, it tends to stay above it for the duration of the bull run.

However, it is imperative to consider the possibility of a local top forming if RNDR fails to breach the $5.50 resistance. In this scenario, RNDR may retreat to the nearest support at $3.70, reflecting a 20% decline from the current valuation and a 32% decrease from the $5.50 threshold.

Insights from Cryptocurrency Enthusiasts:

Prominent cryptocurrency traders and analysts on the X platform anticipate RNDR's upward momentum to persist. Don Mimi, for instance, shared a chart projecting RNDR's next target at $5.50, a testament to growing confidence in the cryptocurrency.

Meanwhile, OurCryptoTalk expressed their commitment to RNDR, citing both price action and the prevailing Artificial Intelligence narrative as factors driving their investment decision. They emphasized RNDR's resilience, with strong support above $3.5, and anticipate a thriving long-term narrative surrounding AI in the cryptocurrency space.

Default Trades chimed in with optimism, predicting that RNDR would embark on a journey of price discovery before the year concluded.

Start automated trading on Cryptohopper today and enjoy a 3-day free trial!

Inbox afbeelding

Nieuwsbrief

Krijg wekelijks een e-mail met exclusieve crypto-analyses en nieuws dat de moeite waard is om te lezen. Blijf op de hoogte, helemaal gratis.

Automatiseer
je
trading!

Geautomatiseerde crypto trading bot van wereldklasse

Laten we beginnen
Automatiseer je handel

Verwante artikelen

Bot Trading 101 | How To Apply a Scalping Strategy
#Automated trading strategy#Strategy designer#EMA+3 meer tags

Bot Trading 101 | How To Apply a Scalping Strategy

Cryptocurrencies | BTC vs. USDT As Quote Currency
#Bitcoin#crypto trading#crypto trading tips+2 meer tags

Cryptocurrencies | BTC vs. USDT As Quote Currency

Technical Analysis 101 | What Are the 4 Types of Trading Indicators?

Technical Analysis 101 | What Are the 4 Types of Trading Indicators?

Bot Trading 101 | The 9 Best Trading Bot Tips of 2023
#crypto trading#trading bot#crypto trading tips+2 meer tags

Bot Trading 101 | The 9 Best Trading Bot Tips of 2023

Begin gratis te handelen met Cryptohopper!

Gratis te gebruiken - geen creditcard nodig

Laten we beginnen
Cryptohopper appCryptohopper app

Disclaimer: Cryptohopper is geen gereguleerde entiteit. De handel in cryptocurrency bots brengt aanzienlijke risico's met zich mee en in het verleden behaalde resultaten bieden geen garantie voor de toekomst. De winsten getoond in product screenshots zijn voor illustratieve doeleinden en kunnen overdreven zijn. Doe alleen aan bothandel als u over voldoende kennis beschikt of vraag advies aan een gekwalificeerd financieel adviseur. In geen geval aanvaardt Cryptohopper enige aansprakelijkheid jegens enige persoon of entiteit voor (a) enig verlies of schade, geheel of gedeeltelijk, veroorzaakt door, voortvloeiend uit of in verband met transacties met onze software of (b) enige directe, indirecte, speciale, gevolg- of incidentele schade. Houd er rekening mee dat de inhoud die beschikbaar is op het Cryptohopper sociale handelsplatform is gegenereerd door leden van de Cryptohopper gemeenschap en geen advies of aanbevelingen van Cryptohopper of namens haar vormt. Winsten getoond op de Marktplaats zijn niet indicatief voor toekomstige resultaten. Door gebruik te maken van de diensten van Cryptohopper, erkent en aanvaardt u de inherente risico's die betrokken zijn bij de handel in cryptocurrency en gaat u ermee akkoord Cryptohopper te vrijwaren van eventuele aansprakelijkheden of opgelopen verliezen. Het is essentieel om onze Servicevoorwaarden en Risicobeleid te lezen en te begrijpen voordat u onze software gebruikt of deelneemt aan handelsactiviteiten. Raadpleeg juridische en financiële professionals voor persoonlijk advies op basis van uw specifieke omstandigheden.

©2017 - 2024 Copyright door Cryptohopper™ - Alle rechten voorbehouden.