CandleFocus

Render Price Targets $10 as Channel Breakout Pushes Past $8

Author: Content Editor
The cryptocurrency Render (RNDR) is showing a bullish trend and has recently surpassed the $8 mark. With a market cap of $4.19 billion and a trading volume of $1.23 billion, there is speculation that the price could continue to rise and reach the $10 milestone. The price has experienced a trend reversal rally and has broken through a long-standing resistance trend line, signaling the end of a falling channel pattern. The bullish recovery has already surpassed the 38.20% Fibonacci level and has resulted in six consecutive bullish candles. There is a positive crossover between the 50-day and 100-day EMA lines, and the MACD and signal lines remain positive, indicating a bullish sentiment. The immediate resistance level is at $8.62, followed by potential targets at $9.68 and $11.20. However, if the broader market does not recover, there is support at $7.56 and $6.24. Overall, with increasing bullish momentum and rising trading volume, Render's price is expected to surpass the $10 milestone.

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