CandleFocus

Render forms a strong bullish pattern: here’s the next price target

Author: Content Editor
Render Token ($RENDER) has formed a bullish chart pattern known as the cup and handle, attracting the attention of cryptocurrency analysts. The pattern, identified on the daily chart, has a neckline set at around $10, which is a critical resistance level for the token. Currently trading at $8.6, $RENDER is almost completing the formation of the handle as it rises from a small decline. The cup and handle pattern has historically led to substantial price increases once a breakout above the neckline occurs. Analysts anticipate a breakout above $10, with the increasing adoption and integration of Render Network in various sectors of the digital economy playing a role in driving demand for $RENDER. The positive market sentiment towards blockchain and crypto technologies and Render Network's unique proposition of decentralized GPU rendering also contribute to the upward momentum of the token.

Related News