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- 1 Render price prediction is bullish for the next few months as long as it sustains above the $1.200 level.
- 2 RNDR price is trying to break out of the 200 day EMA to reverse the trend upward.
- 3 Render price is showing signs of a bullish trend reversal.
Render price prediction suggests that a significant rise is possible in the coming months. RNDR price already recovered approximately 25% from the recent swing low and formed a bullish reversal pattern.
Render price is trying to break the 200 day EMA to turn the positional trend in the upward direction. However, the confirmation of the breakout is still awaited. RNDR price took support near $1.250 and consolidated for some time to form a short term base. The buyers got active and began to push the price upward by forming higher high candles.
On the higher side, $1.800 will be acting as an immediate hurdle for the bulls. If buyers succeed in breaking through the hurdle, then that would be adequate confirmation of the trend reversal.
Render is currently trading at $1.544 with an intraday decline of -0.52%. The 24-hour volume-to-market-cap ratio is 2.18% and the last 24-hour trading volume declined by 16.75%. The pair of RNDR/BTC is trading at 0.0000593 with an intraday rise of 0.34%.
Will Render Price Continue Recovery in October?
Render price prediction favors the bulls and suggests that bulls are returning back to the track. The price had recovered well in the past two weeks and was trading near the monthly high. This demonstrates the confidence of the buyers which might grab the attention of many other participants.
As long as RNDR price sustains above the $1.250 level, the possibility of continuing the recovery remains high. However, the next phase of the strong recovery will be visible when buyers are able to break past the $1.800 hurdle.
On the other hand, if the RNDR price faces rejection from $1.800, then prices might consolidate within an existing range.
RNDR Price Formed a Double Bottom Pattern
RNDR price formed a double bottom pattern and buyers are trying their best to break the neckline hurdle.In the coming months, if the overall crypto market recovers then it might positively impact the price of Render and other altcoins.
The MACD curve slopes upward and sustains above the zero line. It indicates that prices are likely to trade with a bullish bias for some more time. The RSI at 52 denotes neutral territory and an equal level in a tug of war between buyers and sellers.
Conclusion
Render price prediction is bullish for the next few months. It suggests that buyers are getting active and further upward momentum is possible. The analysis suggests that if RNDR price breaks past the $1.800 hurdle, then the probability of reaching $2.00 will increase.
Technical levels
- Resistance levels: $1.800 and $2.000
- Support levels: $1.400 and $1.250
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
