Render (RNDR) and ONDO Prices Break Key Resistances: New All-Time Highs Next if These Supports Hold
Rekt Capital’s latest newsletter addresses the price trajectory of Render and Ondo. The crypto analyst seeks to update his followers on the price paths of these cryptocurrencies and where their prices could be headed next.
The crypto analyst discusses Render’s current market position, emphasizing its potential to repeat historical patterns. He notes that the last instance when RNDR closed above the critical $7.31 level and successfully retested it as support led to a significant price rally, reaching new all-time highs.
Currently, Render price has achieved a weekly close above this black level and is in the process of retesting it, showing promising signs of stability thus far. The analyst asserts that if this stability continues, it could pave the way for further upward movement in price.
He also points out the possibility of extreme volatility around these levels, which could lead to long downside wicks. The analyst highlights that in previous instances, such downside wicks have presented buying opportunities, illustrated by the green circles in the red region of his analysis.
Ondo Turns Key $0.97 Resistance to New Support
Turning to ONDO, the analyst draws parallels with RNDR. He observes that ONDO has also achieved a weekly close above an old resistance level, specifically the light blue mark at $0.97, and is now attempting to establish this level as new support.
A successful retest of this support would signal ONDO’s return to a trading range between $0.97 and $1.20.
The analyst suggests that solidifying a base at the lower end of this range could lead to price appreciation, eventually allowing ONDO price to revisit the resistance at the range high.
Read Also: Key Levels to Watch as Celestia (TIA) Price Approaches Major Resistance
Should this scenario unfold, ONDO would then aim for a weekly close above the $1.20 level, thereby converting it into support and positioning itself for a challenge against its previous all-time highs.
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.
