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Render Token (RNDR) Price Grows by More than 11% in the Last 7 Days

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Investing In Render Token (RNDR) - Everything You Need to Know

Render Token (RNDR) has recently seen another price growth, and this one was a lot steadier than the previous ones that the token has seen this year. So far, it managed to come close to a resistance at $3, which is currently still holding it below this level.

Render Token’s price performance

Render Token is not a particularly old cryptocurrency. It was launched in June 2020, and for nearly a year, it did not see much in terms of price action. Back then, it had a lot of small fluctuations, but the chart that displays its entire price history shows that this first nine to ten months look pretty much like a flat line.

The token then started seeing some serious activity in March and April 2021, when it surged from $0.2 to $2.5 in only a month. Unfortunately, the price started dropping after that, and about month and a half before the crypto price crash took place in mid-May. At that point, RNDR was already near its bottom, so when the price crash did arrive, it did push it further down, but not as much as other cryptos.

Render Token’s price performance 1

Render Token also started its recovery a lot earlier. For most other coins, the recovery started on July 20th, 2021. For RNDR, however, it started on June 21st — a whole month earlier. In other words, the token has been performing on its own for a long time, mostly decoupled from Bitcoin and the rest of the crypto market.

After the recovery started, the token reached the price of $1.6 in mid-August, only for it to drop back down to the support at $1, which is where it remained until November 1st. At that point, however, it picked up the pace, and it suddenly skyrocketed over the next three weeks until it hit an all-time high at $7.77.

However, immediately after hitting this level, the token lost its momentum and eventually dropped to $3.5 by December 10th. After that, the holiday surge, brief as it was, took it back up to $6, only for the token to end the year in another price crash that took it down to $4.6.

RNDR in 2022

As the new year kicked off, RNDR price saw a brief recovery that took it back to $5.2 by January 4th. However, on the very next day, the token’s price started to crash until it eventually sank to its new bottom at $2. This was around January 22nd, and as the month approached its end, RNDR price joined a brief bull run that took hold over the crypto market.

Render Token’s price performance 2

More of a recovery from the strong bearish influence than an actual bull run, the rally took RNDR to a resistance at $4 just as February started. After several days of trying to breach the resistance, the token started seeing another price drop as the bearish influence returned. However, this time, the token found a strong enough support to hold it from spiraling down.

The support, sitting at $1, allowed it to surge back up in the early days of March, and during the surge, the RNDR value climbed to $3.2 after that however, it sank back to $2.5, and it even broke the support briefly between March 10th and 16th.

Over the last week, however, RNDR started seeing a steady rise once again, and it grew by around 11.78% in the last week, which brought it back to $2.94 earlier today, March 24th, but the resistance at $3 did not allow the token to progress. Instead, it forced it back down to its current price at $2.82.

To learn more visit our Investing in Render Token guide.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.