The Render (RNDR) Price Surges to New Yearly High
The price of RNDR has experienced a significant increase this year, reaching a new yearly high of $4.87 today. This marks the highest price in over 700 days. The upward movement was accelerated by breaking out from a key resistance area, and now there is only one more resistance left before reaching the all-time high.
RNDR Upward Movement Accelerates
The RNDR price has experienced a significant bullish run this year, with a 1,100% increase since January. This has led to a new yearly high of $4.87, the highest price in over 700 days. The breakout from a key resistance area has further accelerated the rate of increase, leaving only one more resistance before reaching the all-time high.
What Are the Traders Saying?
Crypto traders and analysts believe that the upward movement of RNDR will continue. According to Don Mimi’s chart analysis, the next target for RNDR is $5.50. OurCryptoTalk is also buying more RNDR due to the price action and the AI narrative. Default Trades predicts that RNDR will reach price discovery before the end of the year.
RNDR Price Prediction: All-Time High Within Reach?
Based on Elliott Wave theory, RNDR is currently in its third wave of a five-wave upward movement. The most likely target for the next wave is at $5.65, which aligns with the horizontal resistance area at $5.50. If RNDR reaches this level, it could potentially increase towards the next resistance at $8.40.
However, failure to move above the $5.50 resistance could indicate a local top and result in a price drop to the closest support at $3.70.
Hot Take: RNDR Continues its Bullish Run
The RNDR price has surged to a new yearly high and shows no signs of slowing down. With only one more resistance left before reaching the all-time high, it is possible that RNDR could continue its upward movement in the coming weeks. Traders and analysts are optimistic about its future prospects, with price targets ranging from $5.50 to $8.40. However, it is important to note that if RNDR fails to break through the $5.50 resistance, a price correction could occur. Overall, the future looks promising for RNDR as it rides the wave of bullish momentum.
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