Summary
TLDR: Despite Render’s price not showing explicit bullishness, investors are hyped about RNDR, leading to potential new highs in 2024. Accumulation and conviction among investors are rising, with active deposits at a two-month low. If RNDR can flip resistance levels into support, it may see new highs, but failure could lead to a decline. This article is for informational purposes only and not financial advice.
Key Points
1. Although Render’s (RNDR) price is not observing explicit bullishness on the charts, it is seeing a lot of hype from investors.
2. Render price trading under $11 failed to breach the resistance marked at $11.24, resulting in some pullback in price. But this did not seem to discourage RNDR holders who have been actively bullish towards the altcoin.
3. Render price hit a high of $13 earlier this month, nearly touching $14 during the intra-day high, marking the year-to-date high. If the investor’s bullishness persists, RNDR might have another shot at forming new 2024 highs.