The Render Token price prediction shows that RNDR may continue an upward trend if the market moves near the upper boundary of the channel.

Render Token (RNDR) Price Gains Momentum

Today, Render Token (RNDR) experienced a significant increase, currently trading at approximately $4.5, marking a gain of over 10% at the time of writing. This surge suggests RNDR is breaking free from a consolidation phase, in line with predictions indicating a forthcoming test of the $5.0 level. A crypto analyst highlights multiple technical indicators on the daily chart signaling a shift towards bullish momentum for RNDR.

Render Token Prediction Statistics Data:

• Render Token price now – $4.71
• Render Token market cap – $1.77 billion
• Render Token circulating supply – 376 million
• Render Token total supply – 531 million
• Render Token Coinmarketcap ranking – #36

RNDR/USD Market

Key Levels:

Resistance levels: $6.0, $6.5, $7.0

Support levels: $3.0, $2.5, $2.0

At the time of writing, RNDR/USD is showing a positive movement as the market opens today. The market is running a little retracement move toward the resistance level of $5.0 with a price growth of 10.02%. Aside from today’s gain, the Render Token price will begin to follow the bullish movement within the channel, and traders can expect the coin to spike above the upper boundary of the channel as soon as the bulls put more pressure on the market.

Render Token Price Prediction: Render Token (RNDR) Heads to the Upside

If the Render Token price begins to follow the upward movement, traders can expect a bullish continuation from the opening price of $4.28. As the 9-day moving average prepares to cross above the 21-day moving average; the potential resistance levels could be located at $6.0, $6.5, and $7.0 in the long term.

However, if the bulls increase the buying pressure, the market price may either break toward the channel or move sideways. Meanwhile, looking at the price formation, a little bearish breakdown may likely play out for this market, which could roll the coin back to the long-term supports at $3.0, $2.5, and $2.0.

RNDR/BTC Begins the Upward Movement

Against Bitcoin, the Render Token price is beginning to follow a bullish sentiment as the coin hovers above the 9-day and 21-day moving averages. On the contrary, if the bears attempt to gain momentum, they are likely to release the selling pressure on the market, but the 9-day moving average stays above the 21-day moving average, suggesting bullish signals.

However, if the coin falls and slides toward the lower boundary of the channel, it could hit the nearest support at 1000 SAT. Any further negative movement could lower the price to 800 SAT and below. Looking at the upside, the coin may create additional gains and possibly cross above the upper boundary of the channel. If the bulls manage to stay well above this barrier, the Render Token price may locate the resistance at 1300 SAT and above.

Meanwhile, a renowned crypto analyst @CryptoKindie, analyzing the coin to his followers on X (formerly known as Twitter), predicts $RNDR to excel in this year bull run based on positive indicators, which includes a double bottom formation signaling a potential market low, a decisive break of the downtrend indicating market strength, and bullish momentum confirmed by the Daily Moving Averages crossover.

$RNDR Daily

Gaining momentum on the Daily 🫡$render starting to pick up steam now, follow the signs:
➡️Double bottom marked the bottom
➡️Break of downtrend signalled strength
➡️Flipping the Daily 50MA confirmed a bullish flip in momentum

Let’s get this #rndr fam, a test of… pic.twitter.com/WgcQmaYEd6

— Crypto Kindie (@CryptoKindie) January 30, 2024

Alternatives to Render Token

The Render Token (RNDR) is approaching the $5.0 resistance level near the upper boundary of the channel. However, if bulls maintain the coin above the 9-day and 21-day moving averages, further upward movement is possible, potentially targeting the $5.5 resistance level. Despite RNDR’s market cap of $1.77 billion, ranking 36th in the crypto world, its profit potential may be limited due to its size. Meanwhile, attention is shifting to Bitcoin Minetrix (BTCMTX), an alternative to Bitcoin, which has raised nearly $10 million in its presale, garnering investor interest.

Bitcoin Minetrix Pumps Up; BIG MOVE COMING?

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Bitcoin Minetrix (BTCMTX) is a presale project experiencing significant growth, aiming to democratize cloud mining with a unique dual-earning model. Users can passively earn mining rewards by staking the BTCMTX token, removing the need for high-end hardware or technical expertise. With over $9.9 million raised in presale sales and growing demand, BTCMTX has the potential to become a standout low-cap crypto asset in 2024.

You can benefit from Bitcoin Minetrix today.

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• Source: https://insidebitcoins.com/news/render-token-price-prediction-for-today-january-30-rndr-technical-analysis