Render (RNDR) Continues Its Upside Retracement

Ever since price activity in the Render market crossed the $5.00 mark, the market has remained consistently bullish. Price action in this market has also crossed the $6.00 threshold and has spent two straight sessions above that mark. Let’s examine the token’s chances of the market extending its upside retracement from this point on.

RNDR Statistics:
Current Render Value: $6.569
Render Market Cap: $2,443,909,116
RNDR Circulating Supply: 531,039,933
Render Total Supply: 536,870,912
RNDR CoinMarketCap Rank: 42

Key Price Levels:
Resistance: $6.569, $7.000, and $7.500
Support: $6.069, $5.569, and $5.069

Render Bulls May Soon Shatter the $7.00 Resistance Level

The RNDR price has increased by 5.77% as of the time of writing. From a technical point of view, considering the position of the ongoing session, it is quite likely for the market to make more bullish advancements. This token has been trading above the Guppy Multiple Moving Average (GMMA) curves since the past session. Meanwhile, today’s session has further pushed the market upward.

The last price candle here has an upper shadow, which shows that the market has witnessed some contractions due to headwinds. Despite this, the Moving Average Convergence Divergence (MACD) indicator lines have maintained an upward path. Also, the indicator bars have continued to appear green and taller above the equilibrium level, signaling that the uptrend may continue.

RNDR Buyers May Gather More Bullish Momentum

Moving on to the Render 4-hour market, it can be seen that the token’s price action has maintained almost the same characteristics as in the daily market. However, the difference in this market lies in technical indicators. It can be seen here that while the MACD lines continue to rise upwards on the daily market, the one here has not yet delivered a bullish crossover.

The last price candle here also remains above the GMMA indicator lines but seems to have just crossed a psychological level at the $6.500 mark. The perceived crossover on the MACD lines suggests that upside forces may gain more momentum. This therefore indicates that traders can maintain bullish crypto signals in this market, as prices seem set to approach the $7.500 mark.

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