Render Analyst Insists RNDR 'Danger Is Not Over Yet' Despite Recovery Signs: Watch These Key Price Levels

Render (RNDR) has shown signs of recovery after a long price decline. However, D0c Crypto, an analyst with more than 11k followers on X

Render (CRYPTO: RNDR) has shown signs of recovery after a long price decline, but one analyst insists that the danger is not over yet and suggests keeping an eye on these key price levels.

What Happened: Render has been in a price decline for the last five weeks, seeing a 40% decrease in its price during this time frame. The token has, however, found support at the $7.3 level, showing signs of recovery.

Despite this, D0c Crypto, an analyst with over 11k followers on X, maintains a cautious stance, stating that “the danger is not over yet” for RNDR holders.

“After a 40% dump, everyone is looking for the bottom, but be careful because the danger is not over yet. If you get stopped out, you will FOMO back in at a higher price,” said the analyst.

Key Price Levels To Watch: Several crucial price levels are pointed out by the analyst for traders to keep an eye on.

D0c Crypto highlights the importance of RNDR reclaiming the weekly support level at $7.93. This level could serve as a foundation for further price appreciation.

If Render manages to surpass the weekly support, the next significant milestone would be reaching a higher high above $10.80. Achieving this could potentially signal a shift in momentum.

Prospects Only after clearing the $10.80 level could discussions about a new all-time high become relevant, according to the analyst.

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Buying Opportunity: Despite the talk about being cautious, D0c Crypto sees the decline as a good opportunity to buy low, describing the range around $7 as “an incredible buying opportunity.” This could be particularly good for long-term holders.

“I would be buying the shit out of this range around $7 if I was planning on holding for a year or more. It's an incredible buying opportunity, and I don't think you will get prices this low again for a long time,” said Crypto.

Further analysis also shows that the RSI is 38, nearing an oversold position. It also shows that the prevailing sentiment is bearish. Therefore, traders should wait for stronger bullish signals in anticipation of a rebound and short-term entries.

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