Render (RNDR) price is on the rise and its current price is $7.731 after a 0.85% increase intraday. The token has gone above crucial downtrend line resistance signaling bulls control in the market.
Market analyst Cryptodoc_ has even higher expectations for further appreciation, with long-term targets that could soar as high as $25 by 2025.
Key Breakout from Downtrend Resistance
The chart presents a clear breakout from a descending resistance line, which has been controlling the RNDR price since April.
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This breakout as observed by Cryptodoc_ indicates the change of trend from the bearish territory to the bullish one. RNDR has managed to maintain its price above the key $7.50–$7.70 level, which indicates its potential to increase.
The breakout correlates with higher trading volume usually observed during trends’ reversals and strengthens the bulls’ argument. Experts believe that Render price needs to hold above $7.50-$7.70, while a breakout through $8.00 would define its next upward movement.
Render Price Key Levels to Watch: Support and Resistance
The first support for RNDR can be seen at $7.50-$7.70, which is an important level for the bulls to hold on to in order to maintain an upward trend.
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The next level of support if the Render price descends below SMA is $6.50-$7.00, where buyers are likely to emerge from and support the price up. Another deeper support is the 20-day SMA at $5.86.
The first potential resistance area is the $8.00 level, a psychologically significant point and the upper Bollinger Band. Such a breakout above this level will push RNDR toward medium-term levels at $10.00 and $13.00 in line with previous levels of price action.
AMCryptoAlex predicts that RNDR can sustain its upward trend and test $20 by February 2025 only if these resistance levels are cleared.
Bullish Momentum Reflected in Indicators
Render price is trending near the upper Bollinger Band at $8.27, highlighting overbought conditions. However, sustained bullish momentum suggests buyers remain firmly in control.
The RSI at 73.65 reinforces this sentiment, although it also warns of potential short-term consolidation. The bullish breakout has been supported by increasing volume, a typical indicator of trend reversals.
Analysts emphasize that further upward movement depends on consistent volume during retests of critical resistance levels, particularly the $8.00 zone.
Scenarios for Render Price Trajectory
A sustained breakout above $8.00 would confirm bullish continuation, targeting $10.00 in the short term. Further momentum could push RNDR toward $13.00 and, in the long term, potentially $25, as projected by Cryptodoc_. The bullish structure would remain intact as long as RNDR holds above the $7.50–$7.70 support zone.
If RNDR fails to hold the $7.50–$7.70 support, it could retrace to $6.50–$7.00, where strong buying activity is expected. A breakdown below $6.50 would invalidate the bullish setup and potentially signal a return to a consolidation phase.
Analysts Agree on Long-Term Bullish Outlook
In addition to Cryptodoc_, analyst AMCryptoAlex highlights that Render price has completed a four-month accumulation phase, transitioning into an expansion phase.
This marks the beginning of a sustained uptrend, with projections of RNDR reaching $20 by early 2025.
Disclaimer
The information provided in this article is only for educational and informational purposes and should not be considered financial or investment advice. We are not licensed financial advisors. Always conduct your research and seek guidance from a certified financial professional before making any investment decisions.
