Render Price Reclaims $8, Eyes To Hit $10 With A 25% Surge?

Story Highlights

• The RNDR price reclaims the $8 mark with an 8.10% jump in 24 hours.
• The EMA 50/200-day hints at a Golden Cross, suggesting sustained bullish action.
• Render price successfully retests its support of the ascending 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 has soared ~50% this month, resulting in it recording a 5-month high.

With the increased bullish sentiment in the cryptocurrency market, will the RENDER price rally toward a new all-time high this month? Or will it experience a pullback? In this article, we have covered the possible short-term price sentiments.

RNDR Price Records Intensified Bullish Action!

With its intraday surge of over 8%, the Render price has continued trading in the ascending channel pattern. Notably, this altcoin has been trading within this price trend since the month started. Moreover, with a market cap of $4.17 billion, it has secured the 29th position.

TradingView: RNDR/USDT

The EMA 50/200-day is on the path of experiencing a Golden Cross in the daily time frame. This suggests an increase in the buying-over-selling pressure for this Artificial Intelligence token in the market.

Further, the MACD indicator constantly records a green histogram with its averages displaying a steady rise in the Render price chart. This highlights that the altcoin may continue gaining value this week.

Will RNDR Price Hit A New ATH This Year?

Maintaining its bullish sentiment could push the Render price toward its resistance level of $9 this week. Further, if the market favors the bulls, this Ethereum-based altcoin could retest its $10 level in the upcoming time.

On the contrary, if a bearish trend reversal occurs, the Render token will drop toward its support trendline of $7.185. Moreover, if the bulls fail to regain momentum at that point, this could result in it retesting its lower support level of $5.50.

Are you keen on whether the Render token will hit a new ATH this year? Read our Render Price Prediction and also subscribe to us to get insights into the latest crypto news first!

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