Render (ERC-20)Long
the Render price may face hurdles in the near term
The overall trend is strongly bullish and witnessed an enormous positive change in a year. It seems that the RNDR price has failed to sustain the $11 hurdle and melted down to the 20-day exponential moving average.
In a situation, if the RNDR price manages to sustain over the previous candlestick then it may continue the bullish trend.
On the other hand, if the RNDR asset price plunges below the 20-day EMA, then sellers may have an eye for the major support level of the $7 price mark. Likewise, if the RNDR price begins trading below the major support level, most of the investors may prefer to book profit which may end up in massive selling pressure.
At the time of writing, the RNDR price traded at $10.18 with an intraday loss of 10%. The market capitalization is $3.96 Billion, and the 24-hour trading volume is $484.13 Million. The circulating supply is 388,643,224 RNDR, and the total supply is 532,070,164 RNDR.
Therefore, as per the chart structure, the Render price may face hurdles in the near term from the $11.25 and $13.50 marks on the daily chart. On the contrary, if the RNDR asset price deteriorates, then it may take support on the $9.25 and $7 levels.
In a situation, if the RNDR price manages to sustain over the previous candlestick then it may continue the bullish trend.
On the other hand, if the RNDR asset price plunges below the 20-day EMA, then sellers may have an eye for the major support level of the $7 price mark. Likewise, if the RNDR price begins trading below the major support level, most of the investors may prefer to book profit which may end up in massive selling pressure.
At the time of writing, the RNDR price traded at $10.18 with an intraday loss of 10%. The market capitalization is $3.96 Billion, and the 24-hour trading volume is $484.13 Million. The circulating supply is 388,643,224 RNDR, and the total supply is 532,070,164 RNDR.
Therefore, as per the chart structure, the Render price may face hurdles in the near term from the $11.25 and $13.50 marks on the daily chart. On the contrary, if the RNDR asset price deteriorates, then it may take support on the $9.25 and $7 levels.
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