Will RNDR Reclaim the $10 Mark Soon? After a month of bearish trading, the Render (RNDR) price has finally regained momentum and recorded an 11.63% jump in valuation with a 110% change in its 24-hour

After trading under a bearish sentiment for about a month, the Render price has successfully regained momentum and has recorded a jump of 11.63% in valuation

Artificial Intelligence (AI) tokens have experienced a significant uptrend in the past week, with top tokens such as NEAR Protocol, RNDR, GRT, and INJ price each adding over 10% to their respective valuations.

This bullish momentum comes after a prolonged period of bearish influence on the AI category, which began in early June. However, the recent price action seems to be indicating a positive shift in market sentiment toward AI tokens.

Among these tokens, Render (RNDR) has shown a particularly strong performance, surging 14.96% over the past 48 hours. This price increase is accompanied by a 110% change in 24-hour trading volume, highlighting the increased activity in the RNDR market.

After trading under bearish sentiments for about a month, Render price has finally managed to gain momentum once again. In the past 24 hours, the altcoin has recorded a jump of 11.63% in valuation. With a circulating supply of 388,646,672 RNDR, a total supply of 532,073,613 RNDR tokens, and a trading price of $7.666, the altcoin ranks 29th with a market capitalization of $2.989 Billion.

In the 1D time frame, the Render token has formed a descending channel pattern and has been trading within it since the beginning of the month. This price formation indicates a rising bearish sentiment for the AI token in the crypto market.

On the brighter side, the Moving Average Convergence Divergence (MACD) has recorded a constant decline in the red histogram, highlighting an increase in the bullish sentiment for the RNDR coin price in the crypto market. Moreover, the averages display a high potential for a bullish convergence this week.

However, the EMA 200-day acts as a resistance to the price chart in the 1D time frame. But the RNDR crypto is on the verge of testing its trendline, indicating a mixed sentiment for the AI token in the crypto space.

If the bulls break out of the resistance trendline, the Render coin price will gain momentum and test its resistance level of $9.450. Furthermore, if the market continues to trade under a bullish sentiment, the RNDR token will prepare to test its upper resistance level of $11.760.

Conversely, if a bearish trend reversal occurs, the Render crypto will drop toward its important support level of $7.325. Moreover, if the bears continue to dominate the market, the RNDR price will plunge toward its low of $5.30 in the coming time.

The above is the detailed content of Will RNDR Reclaim the $10 Mark Soon? After a month of bearish trading, the Render (RNDR) price has finally regained momentum and recorded an 11.63% jump in valuation with a 110% change in its 24-hour. For more information, please follow other related articles on the PHP Chinese website!