While Render Price Shows a Bullish Reversal, Dogwifhat (WIF) Bounces From Support and Eyes a 10x Move
The price of RENDER is showing signs it might reverse direction as it stabilizes in a downtrend channel. Looking at RENDER’s monthly chart, we can see it previously jumped to over $12 before pulling back. Right now, RENDER is trading around $4.13, with a green monthly wick forming – this suggests buyers are stepping in at important support levels between $3.50 and $4.00.
A descending channel remains intact, but technical patterns indicate the formation of a bull flag—a widely recognized continuation setup. If RENDER’s price manages to break out of this structure, resistance levels at $6.00-$6.50 and later $8.00-$9.00 could be tested, with potential for further gains if momentum continues.
Elite analyst Crypto Gorilla shared some insights on X discussing the “Strategic GPU Reserves” concept, a trending topic in the blockchain space. While speculative, this could benefit GPU-based decentralized computing networks like Render. The analyst also noted the bullish structure in RENDER’s price action and indicated a long-term holding position.
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Dogwifhat Price Recovers From Key Support With a 10x Target in Sight
WIF’s price has rebounded from the 50% Fibonacci retracement level, a key area of support. The price correction followed a strong upward move, and an Elliott Wave analysis suggests that the asset may have completed its corrective phase. The next move hinges on whether a higher low (1-2 setup) forms, confirming trend continuation.
Technical analysis points to a possible upside move toward $7, aligning with a projected 10x rally if buying momentum strengthens. Support remains at $0.70-$0.80, with a deeper level at $0.60 if the current bounce does not hold.
Crypto analyst EWT spoke about WIF’s price movement on X, highlighting its reaction at key support levels and suggesting that confirmation of a higher low would signal an uptrend. The analyst anticipates a strong move once this structure is established.
Market Outlook for RENDER and WIF
RENDER and WIF are showing signs of recovery after corrections. While RENDER’s price maintains a bull flag setup within its downtrend channel, WIF’s structure aligns with a potential Elliott Wave impulse. Key breakout levels will determine whether these assets continue their upward trajectories.
Market sentiment and technical formations indicate that traders are closely watching these developments. Confirmation of trend reversals in both assets could bring further momentum, with investors eyeing potential breakout levels in the coming weeks.
Read Also: Why Onyxcoin Could See Massive Returns This Cycle: XCN Price Analysis
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