The Render token (RNDR) is attracting attention during the current market correction thanks to positive technical signals and growing interest from traders.
Render (RNDR) Technical Analysis
According to CoinPedia, the RNDR token recently broke out of a bullish double-bottom pattern and is now targeting the $10 resistance level. This breakout happened in a lower time frame (four hours), suggesting bullish sentiment.
Render (RNDR) Price Prediction
According to recent price action and historical momentum, there is a strong possibility that RNDR could increase by 18% to reach $10 in the coming days. On the daily chart, the altcoin also appears bullish, showing potential to rise by 35% to reach $12.
On-Chain Metrics
According to Coinglass data, RNDR's open interest has increased by 29% in the last 24 hours and 12.8% in the last four hours, reaching a record-high of $160.30 million. This shows growing interest from traders. The long position ratio among top RNDR traders stands at 65%, with shorts at 35%, indicating bullish sentiment.
The Render token (RNDR) is showing strong growth amid market turbulence. High trader interest and positive technical indicators may facilitate further price increase.
