RENDER Nears $1.40: Is a Break Above $2.00 the Reversal Signal Traders Are Waiting For?
Render trades just shy of the $1.40 mark. The question on every chart watcher's mind: can it punch through the $2.00 barrier and flip the script?
The Technical Tightrope
Price action dances around a critical zone. A sustained move above that two-dollar level isn't just another tick higher—it's a potential regime change. It screams to the market that the bears have lost their grip, at least for now. Until then, it's all noise and consolidation, the kind of sideways action that tests the patience of even the most seasoned hodlers.
What a Breakout Would Mean
Clearing $2.00 doesn't just open the door to higher prices; it rewrites the narrative. It shifts the conversation from 'if' it recovers to 'how far' it could run. Momentum would likely follow, attracting the kind of speculative capital that loves chasing a confirmed trend—because nothing gets a trader's heart racing like a chart that's already going up.
The Waiting Game
For now, the market holds its breath. The path of least resistance remains unclear. A failure here could see the coin retest lower supports, proving once again that in crypto, hope is not an investment strategy—it's just the fee you pay for watching the charts.
RENDER Forms Falling Wedge as Breakout Targets Emerge
Crypto analyst Jonathan Carter highlighted that Render is trading at the lower end of a falling wedge pattern. This structure is common in the event of slowing momentum when selling. A breakout out of the wedge that is confirmed by volume may be a sign of a turnaround in the trend.
Carter set a price target in case of a reversal. The initial level of upward movement is at a price of $2.00, which is a significant psychological resistance. Additional levels are at $3.40 and $5.30 in case bullish momentum continues to gain momentum. In the case of a prolonged recovery, elevated levels can be seen at $7.30 and $12.00.
According to CoinLore data, to prevent falling to a greater downside risk, RENDER should not fall below the support zone of $0.6039. Any decisive action above the first major resistance of $1.74 may open the way to $2.16. The further resistance point is at 2.62, which might put an upper limit to the upward movements in the short term.
RSI and MACD Signal Slowing Bearish Momentum
From a technical perspective, the Relative Strength Index is around 31.26, which implies that RENDER is close to oversold. The RSI average is approximately 37.98, and it shows that the bearish movement has not taken effect yet, but the selling power seems to be declining.
The MACD data confirms this perception of decelerating downside momentum. The MACD value is indirectly close to -0.133, and the signal line is at -0.131. The histogram is kept close to -0.001 with a small divergence. This compression is usually followed by a volatility break, though the direction is unclear.
Trading Volume Rises as Open Interest Declines
CoinGlass data shows that the trading volume grew by 76.58% to $60.42 million, and open interest has reduced by 6.95% to $32.62 million. The OI-weighted funding rate is 0.0007%, which indicates neutral sentiment and less leverage.
Source: CoinGlass
However, RENDER is currently trading at a risky juncture where weak price, increasing volume, and stagnating momentum signals converge. The following trading periods can define the next phase of either the continuation of the downward trend of the token or a larger recovery effort.
