Cryptocurrency analyst World Of Charts projects a significant price increase for RENDER, based on the cryptocurrency's breakout from a descending trend.
RENDER Analysis by World Of Charts
Today, analyst World Of Charts shared insights on RENDER. The cryptocurrency has broken out from a descending trend and is currently in a phase of retesting resistance levels that have turned into potential support.
Price Target and Potential
World Of Charts suggests that a successful retest of the current support level could trigger a substantial rally, pointing to a price target of over a 240% increase from current levels, potentially reaching $24.
Market Dynamics Context
The bullish outlook is based on RENDER's broader market trends. The recent breakout from a descending trendline signals a potential shift in market sentiment from bearish to bullish.
Analysts emphasize the importance of the support level holding, as the outcome of the current retest will determine RENDER's future price trajectory.
