World Of Charts has identified a bullish setup for Render (RENDER), projecting a potential surge to $20 in the coming months. This forecast comes after a crucial technical confirmation on the RENDER/USDT chart.
The latest analysis from World Of Charts (@WorldOfCharts1) reveals that RENDER has successfully broken through a significant downward trendline that had been capping its price growth. More importantly, the cryptocurrency has now retested and held above a critical support level at around $6.80-$7.00, which previously served as a strong resistance zone.
What you'll learn 👉
Support Confirmation Signals Strength
This successful retest, as highlighted by World Of Charts, is particularly significant in technical analysis. The price action demonstrates that previous sellers at these levels have now become buyers, effectively transforming the old ceiling into a new floor for RENDER’s price action.
Looking at the upside potential, World Of Charts has mapped out a clear path to $20 for RENDER. This ambitious target represents a 242% increase from current levels, suggesting substantial room for growth. The analysis is supported by the clean break of previous resistance and the strong buying interest evident in recent price action.
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Why This Move Could Happen
The technical setup appears compelling because it follows a popular market pattern. When price successfully retests a broken resistance level as new support, it often signals the beginning of an upward move. World Of Charts’ analysis suggests this pattern is now playing out for RENDER, setting the stage for what could be a significant rally in the medium term.
Of course, as with any market prediction, the success of this move will depend on broader market conditions and RENDER maintaining its newfound support level.
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