RNDR price breakout from upper boundary
At press time, the RNDR price has traded at $10.36, with a market capitalization of $4.02 Billion. The RNDR 24-hour trading volume on all major tradeable platforms amounted to $167.89 Million.
Analyst Captain Faibik highlighted optimism on X, noting that Render Token (RNDR) has been on the verge of another breakout on the 1-day chart.
Faibik further highlights that the successful breakout could send Render Token price to a new All-time high soon. He also hinted that traders and investors to keep their radar active on the crypto. Over his drawing on the daily chart, he predicts at RNDR optimistically and expects a 2x bullish breakout from symmetrical triangle pattern in the coming sessions.
The analysis from the tweet suggests that Render Token happens to be trying hard to sustain near the upper boundary of the pattern, in order to breach it for the uptick in price. Meanwhile, it loooks like RNDR staying above 50-day and 200-day exponential moving averages (EMAs), if price spikes then the bullish breakout could turn out to be an epic one leading towards $20 Mark or 2x gains.
Likewise, the MACD depicted consolidation, and its above zero line, and the RSI has been above a median line at 53.19.
Therefore, if the RNDR price breakout from upper boundary, then Render Token price could aim for higher levels, potentially reaching $14.0 and, if surpassed, could extend gains for a new ATH or up to $20.00, as well.
Conversely, if the RNDR price fails to break, and trades back into the pattern, then a bullish pattern would lose its significance and make it an invalid scenario.
Additionally, if the Render Token price cannot hold above the $9.50 mark, it may face a further plunge towards the demand zone at lower levels.
Analyst Captain Faibik highlighted optimism on X, noting that Render Token (RNDR) has been on the verge of another breakout on the 1-day chart.
Faibik further highlights that the successful breakout could send Render Token price to a new All-time high soon. He also hinted that traders and investors to keep their radar active on the crypto. Over his drawing on the daily chart, he predicts at RNDR optimistically and expects a 2x bullish breakout from symmetrical triangle pattern in the coming sessions.
The analysis from the tweet suggests that Render Token happens to be trying hard to sustain near the upper boundary of the pattern, in order to breach it for the uptick in price. Meanwhile, it loooks like RNDR staying above 50-day and 200-day exponential moving averages (EMAs), if price spikes then the bullish breakout could turn out to be an epic one leading towards $20 Mark or 2x gains.
Likewise, the MACD depicted consolidation, and its above zero line, and the RSI has been above a median line at 53.19.
Therefore, if the RNDR price breakout from upper boundary, then Render Token price could aim for higher levels, potentially reaching $14.0 and, if surpassed, could extend gains for a new ATH or up to $20.00, as well.
Conversely, if the RNDR price fails to break, and trades back into the pattern, then a bullish pattern would lose its significance and make it an invalid scenario.
Additionally, if the Render Token price cannot hold above the $9.50 mark, it may face a further plunge towards the demand zone at lower levels.
Penafian
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