Render Network (RNDR) Crypto Price Pumps 8% Amid Bullish Technical Signals

The price of Render Network's native token, RNDR, has spiked by more than 8% today, fueling speculation about the potential for further gains.

The price of Render Network’s native token, RNDR, has surged by more than 8% today, sparking speculation about the possibility of further gains. This rally follows a prolonged bullish trend, leaving many wondering what’s driving the price surge.

Technical analysis by Crypto Kindie suggests that the daily Relative Strength Index (RSI) for RNDR has remained around the 30 level for a week, indicating the potential for a local bottom. According to past observations, a local bottom tends to form whenever the daily RSI touches the 30 zones, signaling a potential reversal in trend.

Moreover, Crypto Kindie points out that a bullish divergence on the RSI is still unfolding, which adds to the bullish narrative surrounding RNDR. This divergence occurs when the price makes a lower low while the RSI forms a higher low, indicating possible buying pressure.

Technical analysis also reveals the presence of a key support level that has been bolstering RNDR’s bullish rally. This support level has managed to hold the price on three separate occasions in the past, highlighting its strength.

If the price continues to hold above this critical support level, it could pave the way for a continuation of the current rally. As the price approaches this support level, traders and investors will be keeping a close eye on the price action. A decisive move above this support level could potentially trigger more buying interest.

News source：https://www.kdj.com/cryptocurrencies-news/articles/render-network-rndr-crypto-price-pumps-bullish-technical-signals.html

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