RNDR Price Prediction: Can it Provide Investors with a 20% Return? October 7th RNDR Analysis

  • RNDR is trading within a horizontal range of $1.872 – $1.84 on the 2-hour chart.
  • If the price fails to close above $1.872, it may drop towards the support range of $1.746 – $1.7207.
  • However, if it shows a strong rally from the support zone, it could reach levels around $2.

Upon reviewing the current chart, it can be observed that RNDR is approaching the $1.865 resistance, and if it can’t break through this resistance, it might experience a decline.

Medium-Term Analysis of RNDR

Daily RNDR/USD Price Chart
Daily RNDR/USD Price Chart

When we look at the current technical chart of RNDR, we can see that it is approaching an important resistance zone near $1.865. If RNDR manages to close above $1.865 on a daily basis, its next target could be $2.02. If RNDR price can achieve a daily close above $2.02, it may extend its uptrend towards $2.266.

However, if RNDR fails to secure daily closures above $1.865, it might initiate a downward trend towards $1.74. If RNDR’s price closes below $1.74 on a daily basis, the downward trend could expand towards $1.627.

We recommend readers who purchased RNDR at $1.49 to consider taking profits at the $1.865 resistance level and set their stop levels below $1.74, on a daily closing basis.

SHORT-TERM RNDR PRICE ANALYSIS

2-hour RNDR/USD price chart
2-hour RNDR/USD price chart

When we look at the 2-hour technical chart of RNDR, we can see that it has been moving horizontally within the significant resistance range of $1.872 – $1.84. If RNDR fails to achieve 2-hour candle closes above $1.872, it might pull the price down towards the support range mentioned in the analysis, which is between $1.746 – $1.7207.

However, if RNDR price encounters strong buying pressure within the support range of $1.746 – $1.7207 and begins to rise from this zone, it has the potential to reach levels around $2.

RNDR investors looking to open long positions could consider waiting for 2-hour candle closes below $1.72 if the price experiences a drop towards the $1.746 – $1.7207 support range. If RNDR price closes below $1.72, it could extend the downward trend towards levels around $1.64.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

House Appropriations Committee Postpones Hearing on Bitcoin and U.S. Cryptocurrency Tax Policy Framework

On July 7, reporter Eleanor Terrett confirmed that the...

U.S. House Postpones Crypto Tax Framework Hearing Impacting Bitcoin Regulation Timeline

The scheduled hearing on the crypto tax framework by...

Hyper Boosts BTC Long Positions by $10.61M, Leading with Highest Win Rate

Hyper, recognized as the leading entity with the highest...

Binance Alpha Trading Volume Hits $453.27M with BR Leading at $282M on July 6

On July 7, data from the @pandajackson42 panel revealed...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img