started a recovery, with 1.68% gains in seven days and a 3.68% rise in 24 hours, trading at $63k at press time.In the last seven days, RNDR surged by 13.41 %, and jumped 8.65% over the past day. RNDR’s trading volume rose by 101.13% to $124.4M in the same period.
These recent gains have turned market sentiment optimistic, with analysts starting to predict a sustained uptrend.“$RNDR did nearly a 5x from $3 in January this year to March which took less than 3 months. Next target by August is $30 to $40. Keep waiting for $5 good luck”. According to this analyst, using RNDR’s historical performance, we can determine its future; thus, after the consolidation phase, the run will repeat history.Per AMBCrypto’s analysis, in the last seven days, RNDR’s Money Flow Index surged from a low of 37 to 55 at press time. The continuous rise showed increasing buying pressure and a continuation of the uptrend.Additionally, the moving average convergence divergence indicated an uptrend.
Declining exchange inflow means few investors are transferring their crypto sell. This reduces selling pressure, which is bullish for altcoins’ prices.Finally, according to IntoTheBlock, 53% of holders were profitable at press time, increasing investors’ optimism. A 78% accumulation by large holders showed that investors had confidence in the altcoins’ trend.At press time, RNDR was trading at $7.84.
A breakout from this zone will attempt to challenge the next resistance level at $8.42 in short term. With a very strong demand zone around $6.83, in case of price correction, it will decline to a critical support level at $7.3.Gladys is a passionate crypto-enthusiast and price analyst. With 3 years of experience in the blockchain space, she's well aware of the prevailing market trends. Gladys is uniquely committed to providing insightful and real-time content to the larger crypto-community.