Render Price Prediction: RNDR Rises 8% – What's the Market Sentiment?

Render Price Prediction: RNDR Rises 8% – What’s the Market Sentiment?

Updated: 02 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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As of 10:02 a.m. EST, according to GeckoTerminal.com, RNDR is being traded at $1.75, reflecting an 8% decline over the past 24 hours.

Additionally, RNDR’s trading volume has surged to $49 million, indicating a 188% increase for the day.

RNDR Price Analysis: RNDR Breaks Above the 50 SMA

RNDR/USD Chart Analysis. Source: GeckoTerminal.com — RNDRUSD Chart Analysis. Source: GeckoTerminal.com

There are strong signs indicating a possible breakout from a bearish technical pattern for RNDR.

The bulls have gained control of the price, bouncing off the lower boundary of the falling wedge.

As a result, the price has broken through the resistance level and reached the upper boundary of the wedge, coinciding with the 20-day simple moving average.

A decisive breakthrough of this barrier would open the door for RNDR to challenge the next resistance level at $2.25, which is above the wedge and aligned with the 200-day moving average.

This optimistic outlook is supported by the price crossing above the 50-day simple moving average at $1.51, giving the bulls more momentum to drive the price higher.

Momentum appears to be increasing, as indicated by the Relative Strength Index (RSI) trending upwards, suggesting intense buying pressure.

This could lead to the Render price rising further above the overbought region of 70, confirming the bullish trend.

In a highly bullish scenario, the altcoin could aim to reach the psychological target of $2.25. Such a move would represent a substantial 45.3% increase from its current levels.

A clear breach of the upper boundary of the wedge and the 200-day SMA support, which is at $1.81 and provided by the midline of the technical formation, would invalidate the bullish thesis.

However, there is also the possibility that the Render price could decline further, breaking below the lower boundary of the wedge and potentially revisiting the lower end of the range at $0.951.

Meme Kombat offers investors the opportunity to achieve high returns on investment through staking and play-to-earn (P2E) gaming, offering a better alternative to Render at this time.

Meme Kombat(MK)

The Meme Kombat (MK) presale is rising steadily towards its intended target and rapidly gaining popularity, securing $219,658.5.

This substantial increase in funding demonstrates the strong interest from investors in the native token of the Meme Kombat project, which operates on the Ethereum blockchain.

This feels like the start of a great week 🚀 pic.twitter.com/qjlQY6iMKJ

— Meme Kombat (@Meme_Kombat) October 2, 2023

Its token, the Meme Kombat tokens ($MK), is currently priced at $1.667 per token, allowing you to buy and immediately initiate staking to start earning rewards.

By participating in the Meme Kombat presale, you can use an innovative program that automatically stakes the tokens you acquire, enabling you to accrue rewards effortlessly.

Play to Earn MK for Exciting Returns

MK has integrated a blockchain network that combines the potential of memes with play-to-earn (P2E) gaming.

The P2E and gaming ecosystems use the Meme Kombat Token ($MK), which serves multiple functions within the network, like the Meme Kombat arena game, automating battles, facilitating wagering, and supporting staking for passive income generation.

Its getting real… The stakes are rising.. #MemeKombat pic.twitter.com/BQdIK0Pa9l

— Meme Kombat (@Meme_Kombat) October 2, 2023

About half of the total supply of $MK, equivalent to 12 million tokens, is available for purchase.

Meme Kombat (MK) Tokenomics also allocates a significant portion, amounting to 30%, or 3.6 million tokens, for staking and battle rewards, underscoring the project’s commitment to incentivizing engagement through these mechanisms.

Additionally, 10%, or 1.2 million $MK tokens, of the total supply will be dedicated to supporting listings on decentralized exchanges.

The remaining 10%, or 1.2 million $MK tokens, will be allocated for community rewards.

Furthermore, the project has gained recognition from prominent YouTube influencer Crypto Gains, who boasts a subscriber base of over 109k subscribers. His endorsement shows the potential for Meme Kombat to stand out in the crowded meme coin market.

You can participate in the presale by connecting your digital wallet to the MK website and funding it with Ethereum, Bitcoin Cash, or Binance Smart Coin (BSC). Then, follow the provided prompts to purchase your MK tokens.