Render Token Price Reclaims Key Level After Deviation: RNDR Sees Impressive 45% Price Jump

05/18 22:45

The price of Render Token (RNDR) has been on the rise for the past six days, reclaiming a crucial support area in the process. This indicates that the previous breakdown is no longer valid and that bulls may be in control, potentially leading to a sharp trend soon. Although the price failed to sustain its increase in April, it has since reversed its bearish trend and reclaimed the $2.10 support area, which is expected to provide support again. Technical analysis suggests a bullish outlook, with the wave count indicating a potential long-term wave three and a likely reach of the $3.10 resistance area. However, if the price drops below the wave two low of $1.58, this bullish prediction will be invalidated and a drop to $1.10 may be expected.
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DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

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