The post What’s Next for Notcoin (NOT), Render (RNDR), & Ondo (ONDO) Prices This Week? appeared first on Coinpedia Fintech News
The recent crash wiped out more than $600 billion from the markets as sentiments went extremely bearish. With the Bitcoin price rising above $55,000, some of the altcoins have displayed magnificent moves. Among them are Notcoin, Render, & Ondo, which have soared by an average of 30% since the early trading hours. However, it would be more interesting to know whether the token will remain bullish throughout the week or if it is just a trap set for the bulls.
Notcoin (NOT) Price Analysis
The NOT price broke down from a decisive symmetrical triangle, a couple of days before. After hitting the crucial support below $0.01, the bulls have triggered a strong rebound, which has recovered almost all of the losses incurred during the recent bearish pull. However, the token remains distinct from the bullish range and hence the fear of rejection continues to haunt the Notcoin price rally.
As mentioned, the NOT price broke down and hit the lower support; however, despite a rebound, the bullish reversal may not be validated. Although the volume is much lower than that of the previous bearish trade, the bullish probabilities remain pretty high. The DMI or directional movement index, is advancing within a bullish range. If the price maintains a consolidated upswing, then a bullish crossover could be imminent, which may elevate the Notcoin price above $0.016.
Render (RNDR) Price Analysis
The Render price soared heavily in the first few weeks of 2024 and further shed most of its gains, while the recent pullback dragged the levels below the crucial support. Although the bulls have triggered a rebound, the token remains within a bearish range. Therefore, the token may still face a pullback, regardless of the interim base formed at local support.
The RNDR price hit the last point of defence between $3.46 and $3.63 after plunging below the crucial support at $5. The bulls have triggered a rebound and hence the rally is expected to remain elevated as the RSI flips from the lows. However, the MACD shows a drop in the selling volume but continues to flash bearish signals. Therefore, the RNDR price is required to rise above $5, which may invalidate the bearish trajectory and revive a strong ascending trend.
Ondo (ONDO) Price Analysis
Ondo price had been maintaining a steep ascending trend along the lower ascending trend line. These levels were breached as the bears conquered the rally at the beginning of the month. However, the recent price action extended the bearish action towards the lower support, which was defended pretty well by the bulls. This suggests the possibility of a rebound as the bulls are gearing up.
Despite the bearish move, the ONDO price remains within a bullish range as the price defends the lower support of the Bollinger bands. The other tokens dropped below the bands, and the ONDO price is preparing for a rebound from these levels. Besides, the on-balance volume, or OBV, has triggered a bullish reversal, which signals the beginning of a fresh upswing that may lift the levels within the ascending trend line shortly.