May 22, 2023

Crypto Price Analysis For Today: Render Token(RNDR),Synthetix (SNX),Injective Protocol(INJ) Author: Sahana Vibhute May 22, 2023 13:34 Sahana Vibhute Author A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task. The past weekend appeared to remain largely choppy as the star crypto, Bitcoin has been failing to rise above the sluggish trend. In the meantime, some of the altcoins are displaying significant strength and they being self-assured of maintaining a firm upswing in the coming days. Render Token (RNDR) Render token has been trading with an elevated region since the beginning of the year and managed to rise above the levels that it was trading back in May 2022. After the recent parabolic upswing, the prices are constantly failing to rise above the crucial resistance zone, despite breaking above the ascending triangle some days ago. Currently, it is mandatory for the token to clear the green zone to continue trading toward the north. The RNDR token price is trading at $2.39 with a slight jump of 0.96% in the past 24 hours and a weekly rise of 28.66%. Synthetic (SNX) The Synthetix token has been maintaining significant strength as the price remained highly volatile for quite a long time. In the short term, the SNX prices have been trading within a descending triangle. The price is about to get rejected from the upper resistance of the triangle and preparing to reach the lower. However, in the long term, the token appears to be under bullish influence and hence a rebound could be imminent. The SNX price is trading at $2.37 with a drop of 0.18% in the past 24 hours, while it has been surging by more than 12.5% in the past week. Injective Protocol (INJ) The Injective Protocol price has been trading within a rising, expanding channel for a long time, which is flashing bearish signals for the crypto. In the meantime, the price is also trying to trigger a bullish breakout from the prevailing consolidation. After rising from the monthly lows, the INJ price is consolidating within a narrow range, which may raise the probability of testing the lower support of the channel. Besides, the MACD is flashing bullish signals that may keep the hopes of a bullish rebound. The INJ price is trading at $6.84, with a drop of 2.84% in the past 24 hours while maintaining a notable rise of nearly 10% in the past week. Tags May 22, 2023 May 22, 2023