After a 32% price increase in the past two weeks, Render is testing the $8 resistance zone.

After retesting the key resistance level two weeks ago, Render surged over 32%.

The recovery in the number of profitable addresses and trading activity indicates further upside potential.

Render [RNDR] has been under the spotlight following its recent bullish momentum. Since retesting the key triangle flag resistance level about two weeks ago, the altcoin has soared over 32%. This impressive rebound now faces a crucial barrier at the $8 resistance zone. Can Render break through this barrier and extend its gains? Let's delve into the data.

Render bulls aim for the $8 resistance zone

The $8 resistance level has become a critical point in Render's price action. This area represents a strong psychological and technical barrier, as this level has previously repelled the altcoin's price multiple times.

Historically, such levels often increase selling pressure as traders look to take some accumulated profits.

However, with 65% of RNDR addresses currently in profit, confidence in the token's bullish potential remains strong.

The improvement in altcoin trading activity has intensified this optimism. According to data from IntoTheBlock, its trading volume has been steadily rising, suggesting renewed interest from market participants.

This uptick in activity indicates that bulls may have enough momentum to challenge the $8 level.

On-chain metrics bring optimism

In addition to price action, Render's on-chain metrics paint a hopeful picture. For instance, the number of active addresses and trading volume for the altcoin have steadily climbed throughout the rebound.

This typically indicates high network utility and strong investor participation—the key sentiment for sustained price increases.

Render's recent performance has also aligned with broader cryptocurrency market trends. Driven by favorable macroeconomic indicators and adoption, the cryptocurrency market has recently turned bullish.

If this positive overall market sentiment continues, the altcoin could benefit further.

Can Render break through?

In the recent downturn, Render worth $272K was liquidated at the $6.6 price level, with the next liquidity pool around $8.2. This liquidity pool could potentially push the altcoin's price higher.

Failure to break through this area may lead to a short-term pullback.