Render Revving Up: Analyst Predicts Potential Climb To $16

With technical indicators and analyst forecasts pointing at a significant price spike in the next weeks or months, Render (RNDR), the cloud-based rendering network, is generating buzz in the cryptocurrency market.

Render Breaks Free From Technical Chains

For , technical study presents a hopeful picture. Recently, the token broke out from a bullish technical pattern called the Dragon Pattern—also called the supply line. Historically, this breakout implies a possible change in momentum as prices probably will move higher.

Fueling the flames, experts are noting on RNDR’s chart the development of three rising valleys. This pattern points to a possible bottom of the market, therefore reversing past bearish patterns.

Moreover, a positive divergence on the four-hour chart suggests declining selling force. To put it another way, sellers are unable to lower prices, thereby failing to surpass past lows.

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– It’s looking bullish in my opinion. Here is why 👇 • Dragon pattern aka the supply line which broke out already. • Potential 3 rising valleys in the making while we established a potential bottom. • 4 hour bullish divergence which means that sellers had a hard… — Doji 🥷 (@SatsDoji)

Prominent crypto researcher DoJi sees these technical signals as a formula for a price explosion. Drawing on his study of the Three Rising Valleys, DoJi has set a target price for RNDR of about $13. He even goes so far as to propose a price explosion outside of $20 should past price trends recur.

According to DoJi, surpassing a key resistance level of $9.20 could be the catalyst that ignites this bullish momentum.

RNDR Up 250% In 6 Months – But Can It Break Resistance?

RNDR’s value increased almost 250% in the last half-year. The erratic movement pattern of impulsive and corrective actions in the price fluctuations speaks to a stormy market.

Future price trajectory projection of RNDR presents both cautious and hopeful possibilities. At $10.90 there is expected to be opposition; at $13.30 there is a bigger hurdle.

Should the price fall, $6.18 or much less, $3.79 could offer some support. Though long-term signals like the 100-day average hint to a likely stabilization around $8.92, overall market trends and RNDR network adoption rate could influence price swings.

RNDR market cap currently at $3.1 billion. Chart: 

Analyst Chimes In With Optimistic Predictions

DoJi, meantime, is not the only crypto guru optimistic about RNDR. Respected analyst Inspector Crypto has noted on RNDR’s chart a positive Inverse Head and Shoulders Pattern. Usually ahead of a price rise, this trend guides Inspector Crypto’s objective range for RNDR: $14–$16.

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| Inverse Head and Shoulders pattern target: $14-$16 — Inspector Crypto🕵🏻‍♂️📈 (@1nspector_G)

The united hope of DoJi and Inspector Crypto captures a more general expectation for RNDR. Although the token’s price has lately seen a minor decline, many observers are attentively observing its performance in search of an uptrend indication.

Featured image from Pexels, chart from TradingView