🔴 $RENDER Price Holds $2.60–$3.00 Support as Analysts Watch for Breakout Toward $6.70
The Render Network’s RNDR token trades near a key consolidation level after a sharp multi-month decline. Technical indicators across multiple timeframes show rising momentum, with analysts identifying potential upside targets and major resistance zones.
🔸 Key Levels Shape Medium-Term Price Outlook
One technical analyst, Dark Horseman, has provided a complete analysis, tracking RNDR’s structure and key price reactions. He identified the volume profile point of control (VP-POC) as near $2.94–$3.01, where the previous consolidation occurred from August to October 2024. This base supported a breakout in November that drove the token toward $11 in December.
According to Dark Horseman, RNDR remains below the 50-day EMA at nearly $4.02, with multiple failed breakout attempts since February. He stated that this moving average acts as a dynamic resistance, pushing back each bullish attempt. Current immediate resistance stands at $3.748, where March’s candles failed to close above across multiple sessions.
This analysis also pointed to the $6.677 zone as a key horizontal resistance, marking a former range high before the November rally. He described $2.476 as crucial support, matching March’s swing low and aligning with mid-2024 consolidation. Volume bars between $2.60 and $3.00 show dense activity, forming a demand zone supporting recent rebounds.
Dark Horseman also noted that the Stochastic RSI now shows oversold conditions, with values at 8.54 and 19.04. In his analysis bullish crossover appears to be forming, often aligning with short-term upside reactions.
🔸 Weekly Formation Signals Larger Structural Rebound
Solberg Invest has presented a comparative analysis using Render’s weekly timeframe, tracking multi-year price compression and breakout targets. His focus spans longer-term support levels, flag structures, and historical peak zones, offering broader market context.