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COINTURK NEWS > Altcoin News > Bitcoin and RNDR Show Significant Price Increases
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Bitcoin and RNDR Show Significant Price Increases

In Brief

  • Bitcoin and RNDR show significant price increases recently.

  • RNDR's trading volume increased by 60% in the last 24 hours.

  • Analysts discuss bullish outlooks due to market increases.

COINTURK NEWS
COINTURK NEWS 12 months ago
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In Bitcoin, the decline lasting more than 2 weeks seems to have given way to an increase as of today. Bitcoin (BTC) has shown a 4.68% increase over the last 7 days, which means a 2.48% rise in 24-hour charts, and it continues to stay above the $63,000 level at the time of writing. The recovery in Bitcoin also reflected on altcoins. One of the cryptocurrencies experiencing this rise was RNDR, which has made a significant impact in the AI sector recently.

Contents
What is the RNDR Price?RNDR Price OutlookFuture of RNDR Price

What is the RNDR Price?

After significant declines, the 5.6% increase in RNDR’s price over the last week pleased investors. The price movement in RNDR over the last 24 hours was 3%, and the price stands at $7.58.

The trading volume of RNDR increased by 60% in the last 24 hours, reaching $134.4 million. The market cap of RNDR stands at $2.95 billion.

The market increases have also influenced analysts’ approaches, leading them to discuss the bullish outlook more. An RNDR investor and analyst @RENDER_DADDY shared his comments on recovery and a new bull phase in an X post:

$RNDR could reach $10 by the weekend. $RNDR nearly quintupled from $3 in January to March. The next target by August is $30 to $40. Keep waiting for $5, good luck.

RNDR Price Outlook

In the last week, RNDR’s Money Flow Index rose from 37 to 55 at the time of writing. This increase in RNDR can be linked to the existing upward pressure in the market.

On the other hand, looking at RNDR’s MACD indicator, the existing upward trend was noticeable. At the time of writing, the MACD line was above the signal level, generally considered a bullish indicator in the market.

Additionally, data from Santiment revealed another important piece of information. The exchange inflows of RNDR dropped from $1.05 million to just $17,300.

It is widely known that decreases in tokens sent to exchanges generally have a positive impact on the market. It should be noted that such a movement in RNDR could potentially lead to a price increase.

Future of RNDR Price

At the time of writing, RNDR is trading around $7.58, with the first obstacle being the $7.94 resistance level.

Considering the market trend and movements specific to RNDR, this level is likely to be surpassed, which could then pose a significant barrier to reaching new highs.

If this level is surpassed, it could trigger a move to $8.42. Conversely, if the price pulls back, it could drop to the support level at $7.3.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 1 July, 2024 - 8:29 pm 1 July, 2024 - 8:29 pm
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