Skip to content
- Render price increases 3.15% in 24 hours, with trading volume rising 37.89% to $75.78M.
- The price has grown 5.71% over the past week, showing consistent upward momentum.
- RSI at 50.54 indicates a balanced market, while MACD hints at a potential shift in momentum.
Render is currently trading at $3.83, marking an increase of 3.15% over the past 24 hours. The trading volume of the day is $75.78 million, which shows an increase of 37.89%. This rise in trading volume implies an increased level of activity in the market.
In the past seven days, the price of Render has increased by 5.71%. This consistent increase points toward good momentum in the coin. The market shows its confidence in the future performance of Render.
Source: CoinMarketCap
Render Eyes MA 100 Breakout
Crypto analyst Jonathan Carter highlighted that the price of Render is just below the MA 100, an important resistance point. If the token overcomes this resistance, it may experience further upward growth. Breaking this resistance would result in price targets of $4.20, $4.65, $5.49, $6.64, and even $8.10.
The analyst feels that the breach above the MA 100 would indicate a robust bull trend. This action would invite increased purchasing activity. Consequently, the price might experience a substantial increment.
Source: X
Strong Market Indicators Fuel Render’s Growth
CoinGlass data shows that the volume of trading increased by 54.65% to $99.99 million. Meanwhile, open interest increased by 4.59% to reach $121.90 million. Such indicators show that there is more activity in the market, indicating that more investors are interested in Render.
Moreover, the OI-weighted funding rate is also at 0.0150%, which shows a stable market. This rate suggests that a long and short position have a balanced potential. These numbers indicate a vibrant and healthy market, with investor sentiment remaining strong and supporting the price of Render.
Source: CoinGlass
Also Read: TAO Surges 7.17%: Bullish Indicators Signal a Powerful Move Toward $3,000
MACD Shows Signs of Momentum Shift
The Relative Strength Index (RSI) for Render is at 50.54, which indicates a neutral market. Such a position implies neither an overbought nor an oversold token. Neither the buyers nor the sellers occupy a dominant position in the market.
Moving Average Convergence Divergence (MACD) has a value of -0.000676. The signal line stands at -0.038715, denoting weak short-term momentum. But the MACD histogram is going positive. This may be an indication of a possible switch in momentum in case the Render price keeps on increasing.
Source: TradingView
Render is trading with good price action, as it records consistent gains in the past week. The 3.15% increase in 24-hour trading and rising market activity indicate a positive sentiment. The technical indicators signal a possible breakout if the token breaks through the key resistance levels. Investors should closely monitor these key indicators as Render continues to demonstrate potential in the market.
Also Read: Bitcoin Faces Critical Resistance at $117,600: Is a Bullish Momentum Coming?
