While Render (RNDR) ‘s chart isn’t showing any overt bullish sentiment at the moment, the asset is still generating a lot of excitement from investors. However, this could cause the cryptocurrency to reach a new annual high, setting the stage for further growth. On the other hand, discover BlockDAG pioneering scalability and sustainability in cryptocurrency with innovative DAG technology and eco-conscious mobile mining solutions.
Investors remain confident in Render
This week, Render failed to break through the resistance at $11.24, which led to a slight pullback in the price. However, this does not seem to have discouraged altcoin holders.
According to data from the analytical platform Santiment, over the past 4 days, investors have withdrawn about 2 million RNDR worth more than $21.8 million from exchanges. At the same time, RNDR deposits into centralized trading platforms fell to a two-month low, indicating a significant reduction in selling pressure.
Render (RNDR) price forecast: should we expect a new high?
In early March, Render approached the $14 mark, updating its annual maximum. If investors remain bullish, the altcoin has a good chance of being tested again.
For this to happen, the RNDR must break through the $11.24 and $12.58 resistances and confirm them as support.However, if the attempt to consolidate fails, the asset may lose bullish momentum and roll back to $10.2. Losing this level would result in a major correction, potentially sending the asset price towards $8.
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