Render crypto on the weekly timeframe revealed bullish activity. As the RENDER/USDT pair breaking through a descending trendline that previously capped price advances since its peak in October 2023. This breakout indicated a strong reversal from bearish to bullish sentiment.
From October 2023 to April 2024, RNDR was trapped below a resistance level. Its price was trapped at approximately $6.50, which aligned with the descending trendline.
The breach occurred on volume, confirming the breakout’s legitimacy. After the break, price escalated sharply, moving past several minor resistance levels without retracement, indicating strong buying pressure.
RENDER/USDT weekly chart | Source: Trading View
The price stood near $10.90, having just surpassed the $10 resistance level, which was a previous high in July 2024.
The next major target according to the analysis was around $31. This target was optimistic, assuming that the current momentum continued without significant pullback
We współpracy z: https://www.thecoinrepublic.com/2024/12/09/render-crypto-breaks-trendline-is-it-headed-for-31-target/
