Deniz 
Driven by rising trade volume and strong technical indications, Render (RENDER) has been making noteworthy changes in the market this week. For those looking for both short-term and long-term prospects, the cryptocurrency’s recent performance shows a good momentum and qualifies as a suitable choice.
Market Overview: Trading Volume Surge
With a daily trading volume of $165,645, 525 Render (RENDER) noted a 62.10% rise from the day before. This sudden increase in market activity points to investor increased interest, indicating a positive market attitude. The rising demand for Render tokens highlighted by the higher volume implies that, should this trend continue, the price might move much more upward.
Technical Indicators: Strong Buy Sentiment
According to the technical indicators, Render is currently a “Strong Buy.” Out of eight key indicators, six recommend buying, one remains neutral, and one signals a sell. This strong buy sentiment is supported by several key metrics:
- RSI (14) stands at 100, indicating an overbought condition, suggesting that the asset may be approaching a short-term correction.
- MACD (12,26) reflects a buy signal with a value of 1.412, pointing to upward momentum in the price.
- Williams %R and CCI (14) both indicate buy signals, further reinforcing the bullish outlook.
- ATR (14) shows high volatility at 1.1729, which could lead to price swings, offering opportunities for traders to capitalize on price fluctuations.
Moving Averages: Mixed Signals
The moving averages present a more neutral stance, with six buy signals and six sell signals. Short-term moving averages (MA5 and MA10) present mixed results, with the MA5 simple average suggesting a buy and the MA5 exponential average signaling a sell. Similarly, the MA10 simple average supports a buy, while the MA10 exponential average suggests a sell.
However, longer-term moving averages like the MA50 and MA100 show more consistent buy signals, indicating that despite short-term fluctuations, the overall trend remains positive.
Price Performance and Market Cap
Currently valued 62.01% below its all-time high of $13.53, reached on March 17, 2024, Render (RENDER) is Still, the asset has experienced a notable increase from its all-time low of $0.03666, noted in June 2020. Render’s strong long-term performance is shown by 13,926.68% appreciation from its lowest point at present price.
Ranked #45 on CoinGecko, Render’s market capitalization is $2,016,604. Based on a 390 million token circulating supply, this market cap is Assuming all 530 million tokens are in circulation, Render’s fully diluted valuation (FDV) is calculated at $2,734,746,086.
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