The price of the RENDER token has dropped by 25% over the past week. Amid short-term fluctuations, the question arises: can the token make a rebound in the future?
Current Market Situation of RENDER
In the last eight days, RENDER's price has decreased by 25%. Since mid-May, the token has faced pressure, falling below $5. However, analyst Crypto Patel points out that, looking at the medium-term perspective, RENDER could be poised for significant growth, highlighting strong accumulation and support levels.
Projections and Possible Growth Levels
According to Patel's analysis, the current accumulation zone between $4 and $3.40 has previously shown itself as a strong support. He suggests that if history repeats, the price could break through resistance at $8.50 and initiate a fresh rally, targeting levels of $15 and $25, potentially reaching up to $50.
Historical Precedents and Growth Factors
During the last bull market, RENDER surged more than 49 times from its support level. Given the growing interest in decentralized GPU rendering technology and trends in artificial intelligence and Web3, such momentum may be realistic.
The current situation with RENDER shows both unstable short-term fluctuations and long-term growth prospects. Stability at support levels and interest in new technologies play a key role in the token's future.
