- 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
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
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.
