Render price crashes by 8% following transition from Ethereum to Solana

Render price exhibited a reaction opposite to market expectations after the Render Network achieved a milestone, upgrading from Ethereum to Solana.

Render price slipped to trade at $2.22 after a nearly 8% decline following the failed breach of $2.55. The Render Network successfully completed upgrading its core infrastructure to Solana from Ethereum. Render Foundation, in accordance with the upgrade, allocated $2.5 million worth of RNDR as a reward to migrate RNDR tokens to the Solana blockchain. The network, seeing as to how the transition might affect its users, is assisting by granting subsidies using RNDR tokens.

-day chart However, if the Render price bounces above $2.08, it could invalidate the bearish thesis. The confirmation of the same would be achieved when the RSI bounces off the neutral line. This would enable RNDR to reclaim the support at $2.26.

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