The Render started the year in a very volatile state as the RNDR price experienced a jump of 13.5%, following which the volatility increased, resulting in it erasing all its gains from the price pump.
After trading sideways for a while, the RNDR price experienced another correction of over 19% in valuation. Following this, the bulls constantly struggled to hold the price above the support level.
After multiple attempts they lost momentum, resulting in a price drop. After testing its low of $3.457, the bulls regained momentum but faced rejection at $4.146.
The Render coin price then traded in a consolidated range between $3.743 and $4.146 for over two weeks. After multiple attempts, the bulls successfully managed to break out of their important t resistance level, resulting in a jump of approximately 24% in value.
Currently, the price is hovering close to its resistance/support level of $4.631, indicating a neutral sentiment in the crypto space.
Will RNDR Price Rise Back Up?
The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating a strong bullish influence in the market. Further, the averages show a constant rise, suggesting the price will continue gaining value in the coming time.
If the bulls hold the price above the support level of $4.631, the RNDR price will test its upper resistance level of $4.886 soon. If the bulls maintain the price at that level, it will attempt to test its upper resistance level of $5.177 this week.
Negatively, if the bears overpowered the bulls, the RNDR token would fall to test its support level of $4.407. Moreover, if the bears continue to hold power over the bulls, it will plunge and prepare to test its lower support level of $4.146.
