Render Token Price Surges! Will RNDR Price Record New Yearly High Soon?

Render Token Price Surges! Will RNDR Price Record New Yearly High Soon?

The crypto market has displayed a significant move in valuation this year as the industry has added massive value to its total market cap. Bitcoin has already recorded a return of over 100% YTD. Further, the Render token has outperformed elite tokens by recording over 630% Year-to-Date (YTD) gain.

Following the news of Binance RNDR on the Japanese exchange, the Render token has experienced a surge of approximately 35% within the past day, making it one of the top gainers in the industry for the day.

The RNDR price was seen hovering close to its resistance/support level of $1.786 for a brief period, following which the price experienced significant momentum and successfully broke out of the range.

RNDR Price Analysis

TradingView: RNDR/USDT

The token constantly gained momentum and headed toward its upper resistance level of $2.125, where the price faced rejection, resulting in the coin trading close to it for a short period.

The Render token gained momentum and experienced a price jump of approximately 30% but was rejected at $2.617, after which the price traded sideways for roughly 19 days.

The RNDR token recently gained momentum and successfully broke out its key resistance level of $2.617, resulting in the price recording a significant gain in value. Further, the token is currently on the verge of testing its upper resistance level of $3.150, of which the outcome is unpredictable.

Will RNDR Price Hit $4 Soon?

The Moving Average Convergence Divergence (MACD) displays massive price volatility since the month’s start, indicating a massive ongoing price action for the coin. Further, the averages show a sharp spike, suggesting the price to continue gaining value in the coming time.

If the bulls push the coin above the resistance level of $3.150, the price will regain momentum and prepare to test its upper resistance level of $3.40 soon. Further, if the market manages to hold the price at that level, it will set the stage for the coin to attempt to test its resistance level of $3.721 in the coming week.

If the bulls continue to gain momentum at that level, the price will make an attempt to test its key level of $4 in the coming month.

Conversely, if the bears overpowered the bulls, the price will lose momentum and fall to test its support level at $2.80 soon. Moreover, if the bears continue to dominate the market, it will continue to lose value and test its lower support level of $2.617 in the upcoming days.

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