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- 1 RNDR price chart shows a higher high formation amid bullish spell.
- 2 Buyers are continuing to lift up the gains.
RNDR price is moving with bullish momentum and persisted in lifting the gains inside the rising parallel channel in recent sessions. Moreover, the price action shows the buyers accumulation and RNDR price is surging slowly & steadily. The technicals are reflecting the bulls’ dominance and sellers are covering their short positions.
RNDR price is trading above the key moving averages and is displaying bullishness on the chart. Moreover, the RNDR token price has persisted in extending the gains and is targeting the sweet spot of $5. Additionally, a golden crossover was spotted near $2. Afterwards, buyers did not break the voyage and continued to boost the gains.
The live price of RNDR crypto is $4.71, with an intraday gain of 7.46 %, showing bullishness on the chart. Moreover, the trading volume increased by 10.65% to $268.90 Million. However, the pair of NEAR/BTC is at 0.000108 BTC, and the market cap is $2.51 Billion. Analysts have maintained a bullish rating, suggesting the outperformance will continue in the following sessions.
RNDR on Daily Chart Displays Rising Parallel Channel
On the daily chart, RNDR price is boosting the gains inside the rising parallel channel and persisted in highlighting strong performance in recent sessions. The technicals are reflecting the bulls’ dominance as RNDR price participated in the crypto market pump. Per the Fibonacci retracement levels, RNDR price is trading above the 50% zone and is close to the upper bollinger band.
The relative strength index (RSI) curve stayed above the midline and is showing a positive crossover on the chart. The MACD indicator shows a bullish crossover and green bars on the histogram, suggesting a favorable bullish outlook for the upcoming sessions.
Weekly Charts Displays Trend Reversal
On the weekly chart, RNDR price shows a reversal and is attaining pace in the recent sessions. Buyers have gained momentum and are lifting the token price to the blue sky zone above $4. However, the price action suggests that the RNDR token needs a retracement for a healthy bull run ahead of $5.
Summary
RNDR price persisted in accruing gains inside the rising parallel channel and boosting the rally for the past sessions. Moreover, the price action is favouring the bulls and suggests that RNDR token may claim $5 soon. The RSI and MACD are giving strong positive signals. The outlook is positive across multiple time frames as RNDR crosses the $4 mark.
Technical Levels
Support Levels: $4.50 and $4.20
Resistance Levels: $5 and $5.30
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
