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, suggests that the decline may not be over yet. The following paragraphs will discuss the details of the analysis and the important price level to watch.
Render’s decline has lasted 5 weeks, with its price declining by 40% within the period. The token, however, found support at the $7.3 level, showing signs of recovery. Despite this, D0c Crypto maintains a cautious stance, stating that “the danger is not over yet” for RNDR holders.
What you'll learn 👉
Key Price Levels to Watch
The analyst points to several crucial price levels that traders should monitor:
- Weekly Support: $7.93
D0c Crypto emphasizes the importance of RNDR reclaiming the weekly support level at $7.93. This level could serve as a foundation for further price appreciation.
- Higher High Target: $10.80
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.
- All-Time High (ATH)
Prospects Only after clearing the $10.80 level could discussions about a new all-time high become relevant, according to the analyst.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Read Also: Notcoin (NOT) Faces Further Downside Risks as Price Could Drop 25% – Here’s the Outlook
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.
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.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
