Watch Out
Render saw a 37% rise last week, reclaiming the $6 level for the first time this month
trading at $6.153, RENDER is comfortably above the Upper Bollinger Band ($5.894), which often signals overbought conditions. This suggests a potential pullback or consolidation might be on the horizon.
However, the strong trend indicated by the ADX at 33.25 supports the idea of sustained upward momentum. The asset maintains a bullish bias with the +DI at 28.35 and -DI at 16.63.
If the current momentum holds this week, Render could aim for higher targets around $6.0 and potentially $7.0.
Nonetheless, a dip below the Upper Band might lead to a retest of the 21-day moving average ($4.875).
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