The price of RENDER has confirmed a bullish breakout, with technical indicators aligning for a potential upward move.
Following a symmetrical triangle breakout, the crypto successfully retested its breakout level, reinforcing market optimism. Analysts, including Solberg Invest, highlight key support and resistance levels that could shape the next move.
Solberg Invest’s analysis indicates that RENDER has emerged from a falling wedge pattern, a historically bullish setup. The breakout led to an upward move, followed by a retracement to the breakout level, now acting as support.
🚀 $RENDER Breakout & Retest Complete!
— Solberg Invest (@SolbergInvest) February 4, 2025
📊 Current Price: $4.83
📉 Symmetrical triangle breakout confirmed with a perfect retest!
🔍 Key Observations:
✅ Breakout level holding as support 📈
✅ Retest confirms bullish continuation
✅ Watch for volume confirmation before… pic.twitter.com/cy9jzEJE9o
Key support lies between $4.00 and $4.50, where buyers have stepped in to confirm the trend reversal. Resistance stands at $15.64, a level slightly above its ATH. The breakout’s validation increases the likelihood of further upside, but analysts caution that volume confirmation remains crucial.
What you'll learn 👉
Market Sentiment and RENDER Price Performance
At press time, RENDER trades at $4.83, marking a 10.13% increase in the past day. However, a 19.74% decline over the past week reflects a temporary pullback before potential continuation. The volume profile will play a critical role in determining whether the current momentum is sustained.
A successful breakout typically sees increased participation from buyers. If trading volume rises, it would signal market confidence, increasing the probability of an extended rally toward the identified resistance levels.
Read also: AI Predicts Stellar (XLM) Price When XRP Hits $10
Trading Strategy and Risk Management for RENDER Investors
Technical traders are watching for a confirmation entry above $5.00 on a weekly close with strong volume. The ideal buy zone is between $4.00 and $4.80, where support has held firm.
To manage risk, traders are setting stop-loss orders below $4.00. A break under this level could invalidate the bullish thesis and lead to a potential drop to $3.00. Take-profit targets are set at $8.00-$10.00 for mid-range resistance and $15.64 for the upper resistance level.
With a confirmed breakout and successful retest, RENDER’s bullish trajectory remains intact. Analysts emphasize that volume confirmation is necessary to sustain upward momentum.
If buying pressure increases, the move toward $15.64 could materialize in the coming sessions. However, a failure to hold support could lead to a reassessment of the breakout’s validity.
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