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- 1 The RNDR token price shows consolidating moves and is hovering near the $10 mark.
- 2 Technical indicators are suggesting a retracement move toward the $8 mark ahead.
The RNDR price has taken a nap and delivered consolidating movements, reflecting low-volume buying action. The trend is neutral, and the token is attempting a bounce from the 20-day EMA. Amidst the market downturn, the token has held the gains above the $10 mark and is sustaining gains above the 20-day EMA mark. Moreover, the token price trades above the neutral line, signifying an uptrend on the charts.
At press time, the Render token (RNDR) price was trading at $11.09 with an intraday drop of 4.38%, reflecting neutrality on the charts. It has a monthly return ratio of 53.89% and 867.90% on a yearly basis. The pair of RNDR/BTC is at 0.000158 BTC, and the market cap is $5.93 Billion. Analysts are neutral and suggest that RNDR price may find a way and will retain the upside above $13 soon.
RNDR Price-to-Volume Profile Reveals Neutrality
The above data shows the combined data of the RNDR price and volume data, which shows that the token has given a much-awaited rally and surged over 85% this month. Moreover, the token has escaped multiple hurdles and is trading in a bullish trajectory. Recently, the RNDR token reached a 52-week high of $13.59 last week and has resembled outperformance for the past weeks. However, the trading volume dropped 9% to $378.11 in the previous session.
Price Volatility, RSI, and Sentiment Analysis
Following this week’s price consolidation, the price volatility remained average and stayed near 0.019. However, the RSI curve stayed above the midline, noting around 55 signifies a negative crossover. However, the sentiment remained negative, and the value stayed in the negative region near -0.343.
Social Dominance and Twitter Follower Outlook
The social dominance data continued dragging and dropped over 80% to 0.888%, signifying the decline in investor interest. Likewise, Twitter followers noted a drop of over 45% to 2779, whereas the total number of holders persisted, and the value reached 80.5k.
What Does Development Activity and Open Interest Indicate?
The development activity data witnessed a steady movement and is noted around 0.048. In contrast, the derivative data revealed that long unwinding activity and open interest were noted to drop by over 2.37% to $220.05 million.
Per the Fib levels, the RNDR token has sustained above the 50% zone and has stayed above the mid bollinger band. However, the MACD indicator shows a bearish crossover and suggests volatile moves in the following sessions.
The total supply of the Render token is 530.99 million, and the volume-to-market cap ratio is 00638.
Summary
The RNDR token price stayed above the midline and is sustaining gains above the key moving averages. Moreover, the token may attain a bounce and will retain the upside above the $13 mark soon.
Technical Levels
Support Levels: $10.70 and $10
Resistance Levels: $11.80 and $13
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
