Render (RENDERUSD) has been consolidating within the 1W MA50 (blue trend-line) and 1W MA100 (green trend-line) for 3 months (since the week of July 29). This is the technical accumulation pattern that the token has gone through on every market bottom (green arc) in the past two years.
The 1W RSI has broken and been trading above its MA trend-line for the past 6 weeks, which is the first bullish sign and an indication that the current accumulation is almost over (similar to previous two bottom formations).
As a result, we expect an aggressive bullish break-out soon, the 3rd major rally towards the 2-year Higher Highs trend-line. Our Target is at least $45.00 (+300% more than the previous one).
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