The cryptocurrency market shows signs of strength, especially after Ethereum held at $4,350.
Ethereum's Resilience and Altcoins' Growth
Ethereum (ETH) demonstrates resilience at $4,350 after retreating from a recent high of $4,953. This creates a positive sentiment in the market, where many altcoins are beginning to show growth, including Render (RENDER), which rose 9% over the past day.
Harmonic Patterns: Comparing RENDER and WLD
The current chart of RENDER shows a harmonic fractal setup similar to the recent bullish breakout of Worldcoin (WLD). WLD recently completed the CD phase of its bullish harmonic formation and, breaking above the 200-day moving average, initiated a strong rally, increasing by more than 120%.
Future Prospects for RENDER
With RENDER successfully reclaiming its 200-day moving average at $3.81 and establishing a sequence of higher lows, bullish momentum appears to be gaining traction. However, it is essential to remain cautious as harmonic fractals do not guarantee outcomes, and falling below the 200-day average could weaken the bullish scenario.
The cryptocurrency market continues to showcase strength, and while RENDER indicates positive signs, traders should be aware of potential risks.
