$RENDER RNDR Targets $8.50 and Beyond if $5.8 BreaksTechnically, RNDR is approaching a critical confluence of resistance that has drawn the attention of market participants. This zone includes the 50-day and 100-day exponential moving averages (EMAs), the mid-line of a descending channel, and a former support level that has flipped into resistance.The recent bounce from the $4.2 support area has taken the shape of a “V-recovery,” often viewed as a bullish reversal signal. Now, as the token tests multiple resistance layers, a breakout could spark significant upside movement.
If RNDR successfully breaks above this resistance cluster, the following price targets come into focus: $8.50, $10.50, and potentially $13.10. Such a move would signal a return to the upper boundary of the descending channel, possibly revisiting previous highs
For now, as long as Render maintains support above $4.2 and continues forming higher lows, the likelihood of a bullish breakout remains intact. However, a decisive move above $5.8 with strong volume would likely confirm the start of the next major rally. Traders should stay alert for this potential turning point.