Render (RENDER) About to Breakout for a Significant Uptrend?

Nod your head to live and watch the live broadcast to catch the bull market!

Render’s native token, RENDER, has recently shown strong on-chain indicators and technical signals, suggesting that the price may be on the verge of a significant upward move. The following is a specific analysis:

Exchange outflows surge

According to Coinglass data, $3.69 million worth of RENDER was outflowed from global exchanges, showing long-term holders and investors moving assets to private wallets. This is generally seen as a bullish sign, indicating that investors have increased confidence in RENDER and may be expecting price increases in the future.

Significant growth in open interest

RENDER's open interest (OI) has increased by 10% in the past 24 hours, showing that trader interest is picking up and new positions continue to be established. This trend suggests investors are positioning themselves for key moments of price breakouts.

Key technical analysis

Downtrend Line and 200 EMA

RENDER is close to breaking above the downtrend line and the key 200 EMA level on the four-hour chart. Technical analysis shows that if the price manages to break out and consolidate above $8.10, it could first rise by 15% with a target of $9.50.

potential gain

On a further push, RENDER’s price could rise by 40% overall, targeting $11.65, its next significant resistance level.

RSI indicator health

The current RSI value for RENDER is 50.5, which is in neutral territory, indicating that the asset is neither overbought nor oversold. This leaves room for further price gains, especially if the market is dominated by bulls.

Market sentiment helps RENDER

With an upbeat outlook for top crypto assets such as Bitcoin (BTC), Ethereum (ETH), XRP and others driving greater market sentiment, RENDER could benefit from this overall sentiment, further strengthening its upside potential.

Breakout confirmation

Traders should watch to see if RENDER manages to break above $8.10 and achieve a solid close, which would serve as a signal for further gains.

resistance and support

Resistance: $8.10, $9.50, $11.65

Support levels: $7.50, $6.80

Linkage between on-chain data and technical indicators

If on-chain outflows continue to increase and technical indicators such as the RSI remain healthy, RENDER’s upward momentum will be further validated.

Click on the avatar live and watch the live broadcast to catch the bull market!