Render Price Analysis: Bulls Push RENDER Higher Amid Recovery

Render (RENDER) has seen a strong rally over the past four days, breaking above the moving averages and signaling that bears are losing control. However, the bears aren't out of the game yet and may attempt to drag the price back below the moving averages.

If RENDER rebounds off the 20-day EMA at $5.18, it will indicate robust demand at lower levels. Bulls could then drive the price toward $7.26 and potentially to $8. However, this bullish outlook will be invalidated if RENDER slips below the 20-day EMA, potentially paving the way for a decline to $4.38.

On the 4-hour chart, the pair is in an uptrend, but the RSI is in overbought territory, suggesting the possibility of a short-term pullback. The 20-EMA will likely act as support. If the price bounces off the 20-EMA, it will indicate that bulls are buying the dips, possibly pushing the price to $7.26. On the flip side, a break below the 20-EMA could signal profit-taking by bulls, leading to a further decline.

Keep an eye on these key levels for potential market moves! 📊 #Render #RENDER #CryptoMarket #RENDERUSDT