{"id":444599,"date":"2023-10-02T17:11:17","date_gmt":"2023-10-02T17:11:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=444599"},"modified":"2023-10-02T17:11:17","modified_gmt":"2023-10-02T17:11:17","slug":"render-price-prediction-rndr-rises-8-whats-the-market-sentiment","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/render-price-prediction-rndr-rises-8-whats-the-market-sentiment","title":{"rendered":"Render Price Prediction: RNDR Rises 8% \u2013 What’s the Market Sentiment?"},"content":{"rendered":"

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

Additionally, RNDR’s trading volume has surged to $49 million, indicating a 188% increase for the day.<\/span><\/p>\n

RNDR Price Analysis: RNDR Breaks Above the 50 SMA<\/span><\/h2>\n
\"RNDR\/USD
RNDRUSD Chart Analysis. Source: GeckoTerminal.com<\/figcaption><\/figure>\n

There are strong signs indicating a possible breakout from a bearish technical pattern for RNDR. <\/span><\/p>\n

The bulls have gained control of the price, bouncing off the lower boundary of the falling wedge.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

Momentum appears to be increasing, as indicated by the Relative Strength Index (RSI) trending upwards, suggesting intense buying pressure. <\/span><\/p>\n

This could lead to the Render price rising further above the overbought region of 70, confirming the bullish trend.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

Meme Kombat(MK)<\/span><\/h2>\n

The Meme Kombat (MK) presale<\/span><\/a> is rising steadily towards its intended target and rapidly gaining popularity, securing $219,658.5. <\/span><\/p>\n

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.<\/span><\/p>\n

\n

This feels like the start of a great week 🚀 pic.twitter.com\/qjlQY6iMKJ<\/a><\/p>\n

— Meme Kombat (@Meme_Kombat) October 2, 2023<\/a><\/p><\/blockquote>\n