After weeks of consolidating its price, a cryptocurrency dubbed the ‘Nvidia of crypto,’ due to the characteristics it shares with blue-chip behemoth Nvidia (NASDAQ: NVDA), seems poised to skyrocket, at least according to one significant technical analysis (TA) indicator.
As it happens, TD Sequential has presented a buy signal for Render (RNDR) on its three-day chart, suggesting the possibility of a rebound of one to four candlesticks, according to the observations shared by renowned crypto market analyst Ali Martinez in an X post on July 1.
Render TD-sequential signal on 3-day chart. Source: Ali Martinez
Indeed, TD Sequential is an indicator that traditionally points at potential trend reversals and continuation chart patterns, and in the case of Render, it suggests that the token is preparing for an upswing that could last “one to four candlesticks,” as the crypto expert noted.
Hence, this might be an ideal opportunity for traders and investors to accumulate some of the popular ‘Nvidia of crypto’ before its price inevitably rises, possibly to the $20 target set by pseudonymous crypto analyst Doc Crypto in late May or perhaps even to the $200 predicted earlier by crypto trader Mister Crypto.
Render price analysis
Meanwhile, Render is changing hands at the price of $7.71, which indicates an increase of 5.81% in the last 24 hours, as well as gaining 11.04% across the previous seven days, as it moves to recover from the 22.45% loss on its monthly chart, according to the price data retrieved on July 1.
Render price 24-hour chart. Source: Finbold
In conclusion, the TD Sequential, which has a track record of being exceptionally precise in detecting upcoming trends, as in the case of the popular doge meme crypto asset Shiba Inu (SHIB), might, indeed, provide an early alert for an upcoming RNDR surge and allow early birds to reap some profit.
However, trends in the crypto market may sometimes make a surprising twist, so doing one’s own research, carefully weighing all the involved risks, and keeping up with any Render news is wiser than relying solely on crypto experts’ analyses and Render price prediction.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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