RENDER AI Token Price Could Rally to $20, But There’s a Catch

Analyst Crypto Patel has shared insights on the price movements of RENDER, suggesting a potential upward surge. According to his analysis, the token’s current price action hinges on the crucial $4 support level. 

However, there are challenges that investors must watch closely before aiming for the ambitious $20 target. As of now, RENDER is in a downward trend within a descending channel, exhibiting bearish tendencies. 

The price has been experiencing lower highs and lower lows, indicating market weakness. Despite this, the $4 support level stands as a key point to monitor. Patel emphasizes that holding this level could initiate a recovery.

If $4 is breached, a more severe drop could follow, potentially driving the price toward the next support at $1.50. Patel’s analysis points to these levels as critical markers for future price movements, giving traders clear zones to monitor.

Resistance Levels and Potential Upside

While the current trend is bearish, Crypto Patel highlights the resistance level of $6.50 as a hurdle for any bullish attempt. Breaking through this resistance would signal the beginning of a potential rally, creating an opportunity for the token to push higher.

Should market sentiment improve and the $6.50 resistance be cleared, the price could move toward Patel’s optimistic target of $20. However, achieving this level would likely require substantial market catalysts and improved investor confidence.

Celebrate Dogecoin and Make Big Gains with Doge2014!

Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +

Read also: MANTRA (OM) Price Pumps, Among Top Crypto Gainers

Bearish and Bullish Scenarios

Crypto Patel outlines two possible scenarios for RENDER. On the bullish side, maintaining support at $4 and breaking past the $6.50 resistance could propel the price toward the ambitious $20 mark. This scenario would represent a dramatic reversal of the current bearish trend, fueled by positive market developments.

On the bearish side, failing to hold $4 could result in a sharp decline toward $1.50, as the analyst warns. This outcome aligns with the token’s downward trajectory, signaling further weakness in the short term.

Follow us on X (Twitter)CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.

CaptainAltcoin
Logo