Render Token / US Dollar Cryptocurrency Forecast

Render Token / US Dollar cryptocurrency downgraded to Hold/Accumulate
(Updated on May 30, 2024)

RNDRUSD Signals & Forecast

The Render Token / US Dollar cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $10.11. On a fall, the cryptocurrency will find some support from the long-term average at approximately $9.82. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -9.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Render Token / US Dollar cryptocurrency

Render Token / US Dollar finds support from accumulated volume at $9.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.609 between high and low, or 6.10%. For the last week, the cryptocurrency has had daily average volatility of 4.27%.

Our recommended stop-loss: $9.47 (-6.22%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 72 days ago.)

Trading Expectations (RNDRUSD) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect Render Token / US Dollar to open at $10.22, and during the day (based on 14 day Average True Range), to move between $9.38 and $10.82, which gives a possible trading interval of +/-$0.720 (+/-7.13%) up or down from last closing price. If Render Token / US Dollar takes out the full calculated possible swing range there will be an estimated 14.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.15 (0.47%) than the support at $9.79 (3.11%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Render Token / US Dollar cryptocurrency A Buy?

Render Token / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.321 Hold/Accumulate Downgraded

Predicted Opening Price for Render Token / US Dollar of Friday, May 31, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.