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RENDER might break through the horizontal resistance at $7 RENDER, a leader in decentralized GPU-based rendering, has faced turbulence this month, currently trading at $5.48 after hitting resistance near $6.80. However, recent price action hints at a potential reversal. The token remains within a bullish range, successfully defending an ascending trend line that has provided support since August. While constrained by another ascending trend line, these two lines form an ascending wedge. Despite increased selling volume over the past week, **RENDER price** maintains its bullish trajectory. Having previously bounced off its downward trend line support, RENDER appears ready for a rebound. After a brief consolidation, analysts believe the price could initiate an upswing, potentially reaching the wedge's upper boundary soon. If it mirrors past movements, **RENDER price** could target the $7.00 level, offering a strong upside for investors. In the long term, if positive momentum continues, RENDER might break through the horizontal resistance at $7 and the wedge's upper boundary, opening up further growth opportunities.
COINBASE:RENDERUSDLong
by Sam_TCR
Whales Accumulating Render: Can RENDER Show Massive Gains in OctWhales Accumulating Render: Can RENDER Show Massive Gains in October? Whale holdings have surged by a significant 2.06% over the past one month indicating accumulation going on. The 7 day as well as 30 day MVRV ratio has turned positive suggesting more investors turning in Profits. Despite the broader market recovery, Render has failed to attract Investors and was accumulating near the lows. However, the recent sessions have seen some efforts by the bulls that helped the price surpass the 20 and 50 day exponential moving average. At the time of writing, Render was exchanging hands close to $5.5 level indicating a mild 1.44% intraday loss. The price performance states a 7% weekly gain in the last few sessions which has brought hopes of a bullish breakout and improved price for the investors. However, one more thing could wave off worries of the investors and that is the accumulation by the whales in Render for the last one month. Despite the muted performance over the past month, analysts have noted increased activity by the whales in Render. Let's analyze it in detail and try to find out whether Render is preparing for some explosive move in October. Whales On-Loading Render: Time To Buy The Dip? Render is one of the leading decentralized GPU compute platforms for various digital creation work. its application ranges from 3D rendering to machine learning and generative AI. With a market capitalization of $2.8 Billion, Render stands at 32nd in the crypto space. Despite consolidation, the analysts have observed a notable shift in a few on-chain metrics which increases the possibility of a bullish breakout. As per sentiment an-on-chain analytics provider, whales were holding nearly 70.2% of the total supply which has increased to 72.26% over the past month indicating significant whale activity. over the past month, the whales have added over 10.64 Million RENDER tokens worth of $57.46 Million to their portfolio. Whales are the players with large amounts of investment and more resources, hence they tend to be on the right side of the trend for most of the time. Additionally, the MVRV ratio curve has improved in the recent sessions indicating more investors tuning profitable. The 7 day MVRV ratio was 11.65% and 30 day MVRV ratio was 8.3% suggesting the investor's portfolio turning green. Is Render All Set For A Strong Break Out In October? Looking over the price chart, Render had been in a correction phase for the last three months and dropped over 58% from its annual high of $13.6. The recent Fed interest rate cut has triggered a new hope of optimism however, Render has failed to break out of consolidation by now. On the higher side, the $6.37 level has been acting as strong supply zone and preventing significant price gains. A break above the $6.37 level may validate a bullish trend shift and the crypto may join the recovery wave going on in the market. Currently, RENDER price seemed to be hovering between the 50 and 200 day EMA. Now A breakout or breakdown on the either side of the EMA may clarify the trend outlook which is sideways at the moment. With all the other metrics suggesting a bullish breakout in the short term, the technical indicators RSI and 14 day SMA line depicts a positive crossover indicating a bullish continuation. However, the traders and investors need to keep a closer look at the price movement in the short term.
CRYPTO:RENDERUSDLong
by Ritika_TCR
Render Price Could Eye 36% gains amid Increased Whale ActivityRender Price Could Eye 36% gains amid Increased Whale Activity The top holders have increased their holdings by significantly 20% in the last couple of months. The social metrics have improved indicating the increasing participation of the users. Render price seemed to be pulling back after a strong rebound from the lows in Mid August. The price had been in a correction phase since Mid March and struggling to recover. However, The perspective seemed to be changing after the RENDER price noted a strong rebound from the demand zone in mid August. The traders and investors are eyeing a 36% surge in the price that could trigger a bullish breakout in the crypto. At the time of writing, Render was exchanging hands close to $5.005 indicating a positive intraday development of 0.5%. Whales Accumulating Render Aggressively: Should You? The RENDER/USD price chart highlights a correction phase going on in Render since mid March. Render price has noted a nearly 10.8% decline a month and over 49% in the last three months. Source: app.santiment.net Despite the price drop, the analysts have noted a significant development in the on-chain metrics of Render. The top addresses also referred to as whales were found accumulating Render aggressively in the last couple of months. As per the data, the whales were holding nearly 51.5% of the total supply in the first week of July which now has surged to 71.5% indicating a 20% jump in the whale holdings in the recent months. A significant jump in the whale holdings indicate a possible recovery in the price. Additionally, The social metrics curve including social dominance and social volume curve were headed upwards indicating an addition in the participation of social media users. Can Render be A Good Asset To Invest In September? Despite the recent efforts by the bulls In the last couple of weeks, the long term trend outlook still favors the sellers side. Render price needs and additional 35% boost from current market price in order to validate a bullish trend in the long term as well. The short term trend outlook shifted to the bullish side after the price surpassed the key Exponential moving averages of 20 and 50 days. As of now, the price seemed to be pulling back in order to retrace the previous breakout zone. On the higher side, Render price could surge till $6.85 level indicating a potential of nearly 35%. However, it requires the addition of bulls at the lower levels. Whereas, if the price fails to make a bounce back from the lower levels, it may invite the sellers to drag the price towards the lower levels of $4.5 and $4. The long term trend is bearish which may invite sellers at the high until the price claims bullish territory. The technical indicators RSI and MACD are leaving a positive note in the short term trend with a possible recovery in RENDER price.
CRYPTO:RENDERUSDLong
by Ritika_TCR