Bitcoin has shown a reversal of its two-week decline, with a notable increase in its value today. Over the past 7 days, Bitcoin (BTC) has experienced a 4.68% rise, and a 2.48% increase in 24-hour charts, maintaining its position above the $63,000 mark. The recovery in Bitcoin has also had a positive impact on altcoins, including RNDR, which has been making waves in the AI sector.
RNDR’s price has seen a 5.6% increase in the last week, bringing the price up to $7.58. The trading volume of RNDR has surged by 60% in the last 24 hours, reaching $134.4 million, with a market cap of $2.95 billion. Analysts are now discussing a bullish outlook for RNDR, with the Money Flow Index rising from 37 to 55, and the MACD indicator showing an upward trend.
Furthermore, data from Santiment has revealed a significant decrease in exchange inflows of RNDR, from $1.05 million to just $17,300. This decrease in tokens being sent to exchanges is usually seen as a positive sign for the market and could potentially lead to a price increase for RNDR in the future.
As of now, RNDR is trading at around $7.58, with a resistance level at $7.94. If this level is surpassed, the next obstacle would be at $8.42, while a pullback could see the price drop to the support level at $7.3. It is important to note that the information provided in this article does not constitute investment advice, and investors should conduct their own research due to the high volatility and risk associated with cryptocurrencies.
