The cryptocurrency that grew by 100% in a month is named

Cryptocurrency analysts have drawn users' attention to the Render token (RNDR), whose value has increased significantly. The increase in RNDR led to the cryptocurrency setting a new annual high.

This year, the value of Render has seen a significant increase. Since January, the asset’s price has increased by 825.4%, and yesterday the token managed to reach a new annual high of $ 4.87. This is the highest price in over 700 days.

During the upward movement, RNDR broke out of a key horizontal resistance zone that had existed since April. This further accelerated the rate of growth, and now the price has only one resistance left to the all-time high. When assessing market conditions, traders use the Relative Strength Index (RSI) as a momentum indicator to determine whether the market is overbought or oversold.

Traders and analysts on the X platform believe that the RNDR will continue to rise. Don Mimi posted a chart on Twitter showing that the RNDR price will reach the next target of $ 5.50. OurCryptoTalk said that he is buying more RNDR because of the price dynamics.

«Ever since Render’s price broke out of the triangular pattern, strong support has been held above $ 3.5. With the momentum waning, RNDR has been strong, touching $ 4 on three different occasions, confirming the strong struggle between short sellers and long-term supporters ,» the analyst wrote.

As a reminder, the cryptocurrency market sensation Bonk Inu (BONK) continues to reach new historical highs almost every day. Over the past 24 hours, the Solana ecosystem’s memecoin has soared by another 100%, and in the 30-day range, its growth has exceeded 1000%. Moreover, BONK has come close to a staggering market capitalization of $ 2 billion.