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- 1 RNDR price recently broke out of the descending triangle pattern.
- 2 Render crypto is trading above the key moving averages showcasing bullishness.
The Render crypto (RNDR) crypto price jumped in the bullish region and has displayed bullish waves for the past sessions. Recently the price gave a breakout to an interesting triangle pattern.
Moreover, the token is sustaining gains above the key moving averages and is persistent in stretching the gains. The token had given a bullish breakout and has surged over 23% this month, replicating the bull accumulation.
RNDR has started a major bullish move from the lower support levels of $6.850. The price broke above the major trendline, resulting in an upsurge of the price to the upper resistance.
Render Crypto Price vs Volume Analysis
The volume and price graph displayed that the trading volume has increased in the last few days and the price has also inclined. The price had grown from the level of $6.850 to $11.252 and so has the volume.
In the last few days, the price has grown significantly. Hence, the price is expected to grow in the long term as well.
Render Crypto Social Dominance vs Social Volume
Based on the social dominance and social volume graph, the social dominance and social volume have been steadily increasing over the last few months, which has had a positive impact on the price of RNDR. Additionally, the momentum of the Render price may be influenced by changes in social dominance and volume dominance.
In terms of social dominance for an asset, it’s analogous to counting how many people in the room are discussing RNDR compared to the top 100 cryptocurrencies. For example, if RNDR’s social dominance is 50%, it means that half of the cryptocurrency conversations are about RNDR.
Meanwhile, social volume for RNDR means how often RNDR is mentioned across social platforms like Telegram and Reddit.
Render’s Technical Charts
RNDR has been performing in an uptrend on the technical chart. The price formed multiple higher-high swings and continued its bullish rally by trading above the 50 and 200 days EMAs. It reflects the stability and trust of the buyer in the crypto.
At press time, RNDR was trading at $11.089 with an intraday gain of 0.97%, indicating bullishness on the charts. It has a monthly return of 21% and 147% yearly. It has a market cap of $4,302,229,536. Analysts are bullish and suggest the RNDR price will attain higher levels in upcoming sessions.
Render Crypto price may find support at $9.00 and $7.104, where it could bounce back or stabilize. The price may face resistance at $13.721 and $12.00, where it could reverse or consolidate.
Summary
Render crypto is in the bullish territory heading in the upward direction by making a higher high structure. The key indicators are highlight bullishness on the chart.
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.
