The crypto industry continues to trade under a strong bullish influence as top tokens continue adding significant value to their respective portfolios. Further, the AI tokens have displayed a massive uptrend over the past month.
The Render token has added over 40% within the past 24 hours, resulting in it achieving a new ATH. Moreover, the token has added 118% within the past 30 days and 108% Year-to-Date (YTD).
Render Token Achieves New all-time high (ATH)!
The RNDR price traded in a closed range between $4.470 and $5.156 for a period, after which the bulls recorded a jump of 20.73. However, the rally was short-lived as the price faced rejection at $5.764, following which the price traded sideways for a while.
As the market volatility grew, the bulls gained just enough momentum to break out of the resistance level, where the price displayed a neutral trend for the next few days. Following multiple failed attempts, the bulls successfully regained momentum and jumped over 28% in valuation.
Following this, the Render token traded in a consolidated range between $6.699 and $8.10 for the next twelve days. After testing its low of $5.764, the altcoin regained momentum and recorded a jump of over 70% within the last two days.
The technical indicator, MACD, displays a significant jump in the green histogram, highlighting an increase in the buying pressure in the crypto market. Further, the averages show a sharp rise in the chart, suggesting a positive price action in the upcoming weeks.
Will RNDR Token Price Go Up?
If the market pushes the price above the resistance level of $10, the bulls will continue to rise and test its upper resistance level of $11. Moreover, if the bulls maintain the price at that level, it will set the stage for the RNDR token to attempt to test its upper high of $12 by the weekend.
Conversely, if a trend reversal occurs, the bulls will lose momentum and fall to test its support level of $9.224. Further, if the bears continue to overpower the bulls, it will continue bleeding and test its lower support level of $8.10.