Render Revving Up: Analyst Predicts Potential Climb To $16
Render (RNDR), the cloud-based rendering network, is stirring excitement in the crypto market with technical indicators and analyst predictions hinting at a substantial price surge in the coming weeks or months. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Render Breaks Free From Technical Chains Technical analysis paints a bullish picture for RNDR. The token has recently broken out of a bullish technical pattern known as the Dragon Pattern, also referred to as the supply line. This breakout historically signifies a potential shift in momentum, with prices likely to trend upwards. RNDR 24-hour price action. Source: Coingecko Adding fuel to the fire, analysts are observing the formation of Three Rising Valleys on RNDR’s chart. This pattern suggests a potential market bottom has been established, indicating a reversal from previous downward trends. Furthermore, a bullish divergence on the four-hour chart hints at weakening selling pressure. In simpler terms, sellers are struggling to push prices down, failing to break below previous lows. $RENDER – It’s looking bullish in my opinion. Here is why