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Interest in the cryptocurrency market continues to grow day by day. Especially with significant rises in the altcoin market, investors continue to show interest in popular altcoin projects. During this period, artificial intelligence and blockchain have become favorite areas for investors. So, what do the charts say about Render and Sui, which have been frequently mentioned recently? Let’s examine together.
RNDR Chart Analysis
After the initial pullback, Render has been consolidating for the past few days between $3.56 and $4.40. Both moving averages have flattened, and the RSI just above the midpoint indicates a balance between bulls and bears. If the price turns down from $4.40 and falls below the 20-day EMA level of $4, the RNDR/USDT pair could extend this movement for a few more days.
Conversely, if the price rises above $4.40, it would indicate that buyers have overcome sellers. The pair could then rise to $5.07 and eventually to $5.28. A break above this level could indicate that the uptrend has resumed.
On the 4-hour chart, the pair has formed a symmetrical triangle formation indicating indecision between bulls and bears. Buyers are trying to gain dominance by pushing the price above the triangle. If successful, RNDR could rise to $4.40 and then to the $4.71 level. On the contrary, if the price continues to fall and drops below the EMA 20 level, it would indicate that bears are fiercely defending the downtrend line. The pair could then head towards the support line.
Sui Chart Analysis
Sui has been on an uptrend for the past few days, but bears are trying to stop the rally at $1.50. The SUI/USDT pair has formed a rounding bottom formation, which would be completed with a break and close above the $1.50 level. If this occurs, the bullish momentum could increase, and the pair could rise towards the $2 level. The positive setup’s formation target is $2.64.
However, the bears may have other plans. They will fiercely defend the $1.50 level and try to pull the price down to the 20-day EMA level of $1.18. If the price rebounds strongly from the 20-day EMA level, the likelihood of a rally above $1.50 increases. On the other hand, a break below the 20-day EMA level could open the doors to a drop to the 50-day SMA level of $0.92.
The 4-hour chart shows that bulls are struggling to push the price above the overall resistance of $1.50. If the price continues to fall and drops below the EMA 20 level, a pullback towards the SMA 50 level could begin. Alternatively, if the price recovers from the EMA 20 level, it would indicate that sentiment remains positive and every small dip is being bought. SUI could then overcome the $1.50 barrier and start the next leg of the uptrend.
