🚨🤑💸Render (RNDR) Up +18%, This is the Next Price Target !!!

This price increase may be due to advances in AI, such as Sora from OpenAI. This strengthens Render's position by demonstrating the potential of high-quality generative content.

✨Price Render (RNDR) Technical Analysis

RNDR has experienced a bullish trend since September 2023 at a price of US$1.32, with a price increase of 5.5 times to today's price. In the daily period chart, the RSI indicator has shown the number 85 which means it is overbought.

However, in a bullish trend, this overbought signal may not be too much to worry about. As at the end of October 2023, the RSI has given an overbought signal but the price of RNDR continues to increase.

However, if the RSI signal is correct this time, then based on the Fibonacci Retracement there is a support area at the price of US$6.6 (light green line). RNDR has the opportunity to reach this price level if a temporary price correction occurs.

Furthermore, RNDR makes it possible to resume price increases and has the potential to penetrate the all time high at US$8.76, around +20% from the current price at US$7.26. #RNDRbullish #RNDR #RNDRUSDT $RNDR