Will RNDR Reach $15 by the End of December
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- RNDR has risen 10% in the past day as of press time, with trading volume climbing by 22%.
- Render has seen notable spikes in large holder net flow since October.
Render[RNDR] was one of the top performers recently, boasting over a 10% increase within the last day while its daily trading volume surged by more than 22%, according to CoinMarketCap.
The asset broke free from a bearish trend, signaling a robust bullish uptrend. RNDR’s price surpassed a crucial descending trendline associated with a symmetrical triangle pattern that had hindered its growth earlier this year.
This breakout served as a clear indication of changing market sentiment from bearish to bullish.
A bullish crossover was noticed with the MACD line rising above the signal line amidst expanding volume bars, suggesting strengthening buying momentum.
Source: TradingView.
The latest data shows RNDR testing the $8.87 mark. Should it continue gaining ground, significant resistance is anticipated around $13.82 which may lead to either price consolidation or minor pullbacks. Analysts predict that if RNDR sustains its momentum, it could potentially hit $15 by late December, with long-term targets ranging between $20 and $30 depending on market activity and sustained buyer engagement.
An Analysis of Spot Inflows and Outflows
If we examine spot inflow/outflow trends, it’s clear that additional funds are being directed towards this asset implying greater buying pressure and potential investor confidence.
At publication time, RNDR recorded a net inflow increase for assets totaling approximately $2.91 million; although lower than what had been achieved on November 12th leading up to an upward shift in price towards
$8.869.
Capital influx typically aligns positively during rising pricing periods indicating greater likelihoods that incoming capital influences higher valuations instead of negative trajectories often resulting in stabilization or falloffs.
Recent trends suggest Render’s prices might sustain their upward trajectory owing positively inclined net flows reaffirming overall bullish predictions regarding value projection for longer durations ahead.
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