⚡ Render Battles Resistance — Crucial Breakout or Rejection Ahead?

Render saw a recovery of 8% on Tuesday, and at the time of this writing on Wednesday, it experienced an extension of the upswing by 2%. The rebound in RENDER is moving in close proximity to a resistance trendline that was produced by linking the closing on January 21 and May 10. The 200-day exponential moving average is located at $4.30.

On the other hand, investors can view a definitive closure above the 200-day exponential moving average (EMA) as a buying opportunity, with the possibility of aiming for the 50% retracement from the closing price of $10.47 on December 6 and the closing price of $2.73 on March 10 at $5.35.

As was observed with earlier AI tokens, the momentum indicators provide credence to the positive stance. An RSI of 57 and an uptrending MACD and its signal line indicate that the bullish momentum is increasing.

If, on the other hand, the trendline of resistance is reversed, the 50-day exponential moving average (EMA) might be retested at $3.82.

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