Render price claims $8, eyes to reach $10 with 25% increase?

Story Highlights

• The RNDR price reclaims the $8 mark with a jump of 8.10% in 24 hours.
• The 50/200-day EMA indicates a Golden Cross, indicating continued bullish action.
• Render Price successfully retests its support of the rising channel pattern.

As the Render token reclaims the $8 mark, investors are highly anticipating this altcoin to retest its ATH this year. Notably, the RNDR price rose ~50% this month, resulting in a five-month high.

With the increased bullish sentiment in the cryptocurrency market, will RENDER price rise to a new all-time high this month? Or will there be a relapse? In this article, we discussed the possible short-term price sentiments.

RNDR Price Records Intensified Bullish Action!

With an intraday increase of over 8%, Render price has continued to trade in the ascending channel pattern. It is striking that this altcoin has been trading within this price trend since the beginning of the month. Moreover, with a market capitalization of $4.17 billion, it has secured the 29th position.

The EMA 50/200 day is on track to experience a Golden Cross in the daily time frame. This suggests an increase in buy-over-sell pressure for this artificial intelligence token in the market.

Furthermore, the MACD indicator continuously records a green histogram, with the averages showing a steady increase in the Render price chart. This highlights that the altcoin can continue to gain value this week.

Will RNDR Price reach a new ATH this year?

Maintaining the bullish sentiment could push Render price towards the $9 resistance level this week. Furthermore, if the market favors the bulls, this Ethereum-based altcoin could retest its $10 level in the near future.

On the contrary, if a bearish trend reversal occurs, the Render token will drop towards the supporting trendline at $7,185. Furthermore, if the bulls fail to regain their momentum at that point, it could lead to the bulls retesting their lower support level at $5.50.

Are you curious if the Render token will reach a new ATH this year? Read our Render Price Prediction and also subscribe to us to be the first to gain insight into the latest crypto news!

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