Lender (RNDR) is trending higher and gaining attention amid the volatility in the cryptocurrency market. While Bitcoin fell significantly below $65,000, RNDR remained strong throughout. In the last year alone, RNDR has recorded an impressive increase of 664%, demonstrating its potential for growth and stability.
RNDR plunged nearly 14% last week. Despite these temporary shortcomings, RNDR continues to attract interest and investment. As of this writing, Render Tis is priced at $9.82, has a 24-hour trading volume of $545.03 million, and a market cap of $3.63 billion. Furthermore, in the past day he RNDR recorded a positive increase of his 4.74%, indicating continued investor confidence and further growth potential.
Matthew Hyland, a well-known cryptocurrency analyst, pointing out RNDR now needs to regain its previous support level, which has turned into a resistance barrier. He also notes that whenever RNDR has been able to assert this position in the past, the price has rebounded significantly afterwards. For example, in this period alone, the token skyrocketed from $7 to $12.
Hyland seems to suggest that if the RNDR does not repeat such trends, the RNDR will determine its short-term migration path. If these support-turned-resistance levels cannot be regained, he expects a retest of sub-support levels is likely. This analysis highlights how important the one-track RNDR’s ability to overcome resistance is for estimating a coin’s future price movements.
Lender (RNDR) target price range reaffirmed at $16-18
Additionally, another crypto analyst said, maintain The bullish stance on RNDR’s price trend emphasizes that the outlook remains unchanged. They also reaffirmed their target price range for RNDR at $16 to $18, indicating continued confidence in the coin’s growth potential.
The analyst advises traders to consider “Buy Box” as the best buying opportunity for RNDR, reaffirming his commitment to accumulate more tokens at the $9.5 price. They are reluctant to wait for small price differences of 5-10% and emphasize the potential for significant profits in the next uptrend, estimated at 60-100%.
The analyst stated that he was one of the people who entered RNDR at the initial stage of $0.41 due to greed, emphasized on seizing the opportunity to make huge profits and missed the opportunity. Looking back. Their writing implies belief in RNDR’s long-term prospects and suggests that others embrace this initial investment stage regarding Lender Tokens.
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