Render Token Gained 98.70% in Last Month and is Predicted to Reach $ 2.47 By Feb 28, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Render Token is up 4.56% today against the US Dollar
• RNDR/BTC increased by 3.58% today
• Render Token is currently trading 34.89% below our prediction on Feb 28, 2023
• Render Token gained 98.70% in the last month and is down -37.15% since 1 year ago

RNDR price is expected to rise by 53.27% in the next 5 days according to our Render Token price prediction

Render Token price today is trading at $ 1.61 after gaining 4.56% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 1.05% in the same time period. RNDR performed well against BTC today and recorded a 3.58% gain against the world’s largest cryptocurrency.

According to our Render Token price prediction, RNDR is expected to reach a price of $ 2.47 by Feb 28, 2023. This would represent a 53.27% price increase for RNDR in the next 5 days.

RNDR Price Prediction Chart

Buy/Sell Render Token

What has been going on with Render Token in the last 30 days

Render Token has been displaying a positive trend recently, as the coin gained 98.70% in the last 30-days. The medium-term trend for Render Token has been bullish, with RNDR increasing by 254.48% in the last 3 months. The long-term picture for Render Token has been negative, as RNDR is currently displaying a -37.15% 1-year price change. On this day last year, RNDR was trading at $ 2.56.

Render Token reached its all-time high price on Nov 21, 2021, when the price of RNDR peaked at $ 8.77. The current RNDR cycle high is $ 2.18, while the cycle low is at $ 0.277999. RNDR has been displaying high volatility recently – the 1-month volatility of the coin is at 24.46. Render Token recorded 16 green days in the last 30 days.

Render Token technical analysis for today - Feb 23, 2023

The sentiment in the Render Token markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 1.53, $ 1.44 and $ 1.35, while $ 1.71, $ 1.80 and $ 1.90 are the key resistance levels.

Bearish sentiment for Render Token

12 indicators are currently signaling a bullish prediction for Render Token, while 15 indicators are showing a bearish forecast. With 56% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Render Token.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 56 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Render Token moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Render Token is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Render Token is at 52.24, suggesting that RNDR is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Render Token over the last 50 days. Currently, Render Token is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the RNDR closing price for the last 200 days. RNDR is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Render Token prediction

After considering the above factors, we can conclude that the current forecast for Render Token price prediction is Bearish. RNDR would have to increase by 53.27% to hit our $ 2.47 target within the next five days. Moving forward, it will be important to monitor the RNDR market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Render Token price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

by coincodex