Render Looks Strong Despite Being A Top Loser
Render (RNDR) finds itself among the week's notable crypto decliners, having fallen by 10.1%, now priced at $10.10. With a market cap of $3.92 billion, it occupies the 27th spot in the overall crypto market ranking.
Despite its position as the fourth largest loser this week, Render's market behavior suggests an impending upturn. The cryptocurrency has emerged from a downward channel pattern, signaling a potential conclusion to its recent downward trend. Currently, it appears to be in a retracement phase, potentially gearing up for an upward trajectory.
The immediate challenge for investors is the $11.3 resistance level. Overcoming this could pave the way for a 25% increase in value, potentially reaching yearly peaks and possibly extending gains further.
Render (RNDR) finds itself among the week's notable crypto decliners, having fallen by 10.1%, now priced at $10.10. With a market cap of $3.92 billion, it occupies the 27th spot in the overall crypto market ranking.
Despite its position as the fourth largest loser this week, Render's market behavior suggests an impending upturn. The cryptocurrency has emerged from a downward channel pattern, signaling a potential conclusion to its recent downward trend. Currently, it appears to be in a retracement phase, potentially gearing up for an upward trajectory.
The immediate challenge for investors is the $11.3 resistance level. Overcoming this could pave the way for a 25% increase in value, potentially reaching yearly peaks and possibly extending gains further.