Will Render (RNDR) Break $7 or Fall Again?

Jakarta, Pintu News – The cryptocurrency market is always full of uncertainties, and Render (RNDR) is currently in the midst of a debate whether to continue its rise or experience a decline. With challenges at the $4.4 resistance level, many are wondering if it is the right time to invest.

Render Technical Analysis (RNDR)

Render (RNDR) recently tried to break through the critical resistance at $4.4. If successful, this could be a signal for investors to consider further purchases. A chart attached by Bitcoinsensus user X shows that if Render (RNDR) can maintain this momentum, there is potential for it to climb above $7.

However, it is important to note that this latest price increase is not supported by increased network activity. This raises questions about the sustainability of this uptrend. If Render (RNDR) manages to maintain support above $4.4, it could pave the way towards the next target at $13, which is the previous peak.

Also Read: Bitcoin Continues to Thrive Amid Crypto Market Fears: The Impact of Inflation Fears on Crypto

Warning for Rendering Investors (RNDR)

Data from Santiment shows that development activity behind Render (RNDR) is minimal. This raises concerns as it indicates a lack of updates and improvements to the network, which could have a negative impact on investor confidence.

In addition, the average age of coins in the network has declined sharply in the past three months, reaching its lowest level since August 2024. This decline suggests that older coins have been sold or moved, which could be an indication of selling pressure from coin holders.

Render Network Economic Indicator (RNDR)

Although the 7-day Relative Strength Index (RSI) is at 50, indicating a bullish shift in momentum, the slowly increasing social volume over the past month is not enough to indicate an impending Render rally (RNDR). This suggests that the recent price increase may not last long.

Daily active addresses have also shown a downward trend since November 2024, and the last price increase was not followed by an increase in network activity. This suggests that the price increase may have simply provided an opportunity for holders to exit their positions.

Conclusion: Is It Time to Buy Render (RNDR)?

Taking all factors into consideration, investors should be cautious in making investment decisions in Render (RNDR). Although there is potential for significant upside if the $4.4 resistance can be overcome, various economic and technical indicators suggest that there may be more risks than opportunities at the moment.

Investors are advised to monitor further developments and wait for stronger confirmation before taking large positions in Render (RNDR). The decision to invest should be based on thorough analysis and careful consideration of risks.

Also Read: Cardano Price Explosion Potential According to Analysts: Repeat 2021 Surge, Target $16?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Render Challenges. Render Challenges 4/4: Resistance – Will Bulls Reach 7 or Fall Back? Accessed on April 21, 2025
• Featured Image: rendernetwork.com