- Render token price has retested its value region around $9.
- Lido DAO price has made a double bottom and might see a rebound soon.
- Injective price escaped out of range and will deliver a bullish rally ahead.
The cryptocurrency market experienced a significant recovery after the announcement of U.S. CPI data, which fueled the buying pressure. Amidst the volatile swings, some altcoins look relatively better and might see a possible uptick in the upcoming sessions.
Contents
- 1 Render (RNDR) Might Recover Soon: Could It Reach $10 This month?
- 1.1 You might also like
- 1.2 Advancing with XML: A Corporate Imperative
- 1.3 Why Keep An Eye On These 3 Cryptocurrencies: MANTA, STRK And ZK?
- 1.4 Volume Surged By 4000% On Bitget In June: Analyzing The TAO Chart
- 1.5 Lido DAO (LDO) Forms a Double Bottom: What’s Next?
- 1.6 Injective Came Out of the Range: Could It Blast Gains Ahead?
Render (RNDR) Might Recover Soon: Could It Reach $10 This month?
The Render Network is the first decentralized GPU rendering platform, empowering artists to scale GPU rendering work on-demand to high-performance GPU Nodes around the world.
The daily chats of the Render token witnessed a retracement and have retested the 100-day EMA mark in the last trading sessions. Interestingly, it took support on the upward trendline and showed signs of a rebound.
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Source: TradingView
At press time, the Render token price traded at $8.60 with an intraday drop of 1.36%, reflecting neutrality on the charts.
The price action shows that the Render token has faced rejection from the $11 mark and has witnessed selling pressure in the last weeks. However, it forms a symmetrical triangle formation and might see a rebound soon.
A tweet by “@Top Gainer Today” stated that the RNDR price might see a possible rebound ahead.
$RNDR will bounce back from here pic.twitter.com/kicakbgJLC
— TOP GAINER TODAY (@RoccobullboTTom) June 12, 2024
Ranked at 27 per the market cap, the Render crypto has a total supply value of 530.99 million and is eyeing to reach the $10 mark soon. Its trading volume surged over 120%, and its key metrics suggest a potential reversal.
Lido DAO (LDO) Forms a Double Bottom: What’s Next?
LDO is an Ethereum-based token granting governance rights in the Lido DAO. The Lido DAO governs a set of liquid staking protocols, decides on key parameters, and executes protocol upgrades to ensure efficiency and stability.
A double bottom formation was noted on its charts, and it might settle there, and a rebound may occur soon. Recently, the token price failed to survive near its 200-day EMA region and faced rejection.
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Source: TradingView
Meanwhile, it is now trading close to its crucial support zone near $1.80 and looking to sustain above $2 for a possible short-covering move. Once it crosses the upside mark of $2.40, buying momentum will begin and redirect a massive rally ahead.
At press time, the Lido Dao (LDO) token price traded at $1.91 with an intraday drop of 0.90%, reflecting neutrality on the charts.
Analyst Ali Martinez mentioned in his tweet that The TD Sequential presents a buy signal on the LidoDAO (LDO) daily chart, predicting a potential rebound of one to four daily candlesticks for it.
The TD Sequential presents a buy signal on the #LidoDAO daily chart, predicting a potential rebound of one to four daily candlesticks for $LDO! pic.twitter.com/PzpWeqNRkR
— Ali (@ali_charts) June 12, 2024
Source: X
Ranked at 64 per the market cap, the Lido DAO token has a total supply value of 1 Billion. It experienced a decline in its trading volume by over 20%.
Injective Came Out of the Range: Could It Blast Gains Ahead?
INJ is the native token of Injective Protocol, a blockchain protocol optimized for trading assets across different blockchains.
The chart shows that the INJ price has escaped the range and exited the consolidation phase. The token is eyeing its prompt supply region of $40 to retest, which might trigger a sharp bounce ahead.
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Source: TradingView
It is ranked at 46 per the market cap and has a total supply value of 100 million. Nonetheless, its trading volume rose over 50.20% and its market cap rose over 4.30% this week.
At press time, the Injective (INJ) token price traded at $29.30 with an intraday surge of 4.30%, reflecting buying momentum on the charts.
@Crypto Tony, in his tweet, mentioned, “Hold above $31 on the daily and i am longing this one tonight.”
$INJ / $USD – Update
Hold above $31 on the daily and i am longing this one tonight pic.twitter.com/pzZqe74TMz
— Crypto Tony (@CryptoTony__) June 12, 2024
Source: X
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
The post <strong>RNDR, LDO, And INJ Look Good To Go Ahead: Here’s An Outlook</strong> appeared first on The Market Periodical.