Can RNDR fall below the $7 level?

After the longest failed to sustain the price above the 50-day exponential moving average, rendering Crypto Assets prices extended losses. The Crypto Assets traded lower in five of the six intraday trading days, showing a weak trend. Major Crypto Assets Bitcoin and Ethereum are facing adjustments, which is bringing other alts back to the days of watching fall. Let's dig deeper and predict the up pump or down fall of rendered Token prices. Let's see if Crypto Assets will continue to big dump or recoup losses.

The Render Crypto Assets has been trading lower for most of the week, falling more than 13%. Shorts maintained dominance in five of the six intraday trading days, indicating sellers' control over Crypto Assets.

On the daily chart, there was a sell-off after the longest failed to hold the 50-day moving average. The price is still down fall short until it reaches $7, which is considered to be the psychological level and the previous support zone.

The weighted sentiment curve has fallen below the zero line, indicating that falling sentiment prevails. The sentiment curve reveals the overall bias of traders and investors towards the Render Token. Technical indicators point to a falling outlook in the short term after the RNDR price falls below the 50-day exponential MA line. However, the price is still hovering above the 200-day EMA, indicating a positive outlook for Crypto Assets and the possibility of further recovery.

In addition, the Moving Average Convergence Divergence (MACD) line shows a bullish fall crossover, indicating a further downward fall in price. Moreover, the histogram bars seem to be disappearing from above the zero line, which further confirms the future falling trend.

Render prices have been lower for most of the week, falling more than 13%. Shorts maintained dominance in five of the six intraday trading days, indicating sellers' control over Crypto Assets. RNDR price has fall broken above the 50-day exponential moving average, indicating a fall short-term outlook.

However, the price is hovering above the 200-day EMA, indicating a positive outlook and a possible recovery. The MA Convergence Divergence (MACD) line shows a bullish fall crossover, indicating a further downward fall in price.

Technology:
Support bits: $7.04 and $5.17
Resistance levels: $9.42 and $11.27

(Source: Anurag S)