Render

bullish

Strong

Daily

Gains

<ul class="wp-block-list">
 <li>RNDR surged 5.23%, breaking resistance and ending a prolonged downtrend.</li>  
 <li>Technical indicators and trading volumes signal strong bullish momentum toward $12.05.</li>  
 <li>Active addresses dropped, but market sentiment and open interest remain positive.</li> 
</ul>  
<p>As of writing, <a href="https://cryptonewsland.com/investors-hedge-bets-with-this-new-crypto-star-as-render-rndr-and-bonk-continue-to-slide/" rel="noopener noreferrer nofollow">Render (RNDR)</a> has climbed 5.23% in the past 24 hours, reaching $7.08. This rise confirmed a breakout from resistance levels and renewed optimism among traders. A potential target of $12.05 represents a 70% upside. But can RNDR maintain momentum, or is caution needed?</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoinfosTA/status/1857854312325812534?t=8LU1GaayBPNvjPnF4ePynA&amp;s=19
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</figure>  
<h2 class="wp-block-heading" id="h-breakout-fuels-hopes-for-12-05">Breakout Fuels Hopes for $12.05</h2>  
<p>RNDR's prolonged downtrend came to an end after breaking out of a <a href="https://www.babypips.com/forexpedia/descending-channel" rel="noopener noreferrer nofollow">descending channel</a>. This structure had limited price growth for months. Strong support near $4.00 provided a launchpad for buyers to regain control. The token surpassed $6.67, a critical resistance level.</p>  
<p>This move confirmed a bullish retracement and opened the door to higher levels. Trading volumes spiked during the rally, signaling growing market interest. The next challenge lies at $12.05, a zone where sellers have historically gained strength.</p>  
<p>While <a href="https://cryptonewsland.com/render-rndr-sets-to-surge-ahead-of-token-rebranding-avalanche-avax-price-hike-to-60-predicted-red-hot-crypto-casino-presale-hits-1-5million/" rel="noopener noreferrer nofollow">momentum looks promising</a>, the path forward is not without risks. The $12.05 resistance may test traders’ resolve, requiring sustained buying pressure to overcome.</p>  
<h2 class="wp-block-heading" id="h-technical-indicators-and-sentiment-align-for-gains">Technical Indicators and Sentiment Align for Gains</h2>  
<p>Technical indicators add weight to the bullish outlook. A crossover between the 9-day and 21-day moving averages suggests upward momentum. The relative strength index currently sits at 68.54, reflecting strong demand but nearing overbought territory.</p>  
<p>On-chain metrics reveal mixed signals. Daily active addresses dropped from 703 to 209, raising concerns about user engagement. However, a fall in activity often aligns with price consolidation rather than a reversal.</p>  
<p><a href="https://www.cnn.com/markets/fear-and-greed" rel="noopener noreferrer nofollow">Market sentiment</a> remains upbeat. Open interest rose 9.79%, reaching $121.79 million, as more traders positioned for future gains. The combination of rising sentiment, technical strength, and trading volumes supports the case for further growth.</p>  
<p>RNDR’s breakout beyond $6.67 has energized the market. The alignment of key metrics and trader optimism points toward continued momentum. Reaching $12.05 could solidify RNDR as a standout performer in the crypto space.</p> 
<p>The post <a href="https://cryptonewsland.com/renders-chart-hints-at-a-bull-run/" rel="noopener noreferrer nofollow">Render Gears for the Bull Run – Can RNDR Climb to $12.05?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Render Gears for the Bull Run – Can RNDR Climb to $12.05?

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