Based

Rally

bullish

<p>A technical analysis of RENDER’s price action against USDT reveals compelling evidence for a potential surge to the $13 mark. Based on the chart posted by CyrilXBT on X, the cryptocurrency has established a clear breakout pattern from its previous consolidation zone between $6 and $8, accompanied by robust trading volume that validates the move’s strength.</p>
<p><a href="https://x.com/cyrilxbt/status/1866536112401027552?s=46" target="_blank" rel="noopener noreferrer nofollow">The analyst notes</a> that $13 represents a critical historical resistance level that has previously capped RENDER’s upward momentum. However, the recent market structure suggests this resistance might be tested again. The breakout from the previous trading range was particularly significant, showing strong buyer conviction through elevated volume metrics.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="504" src="https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-1024x504.png" alt="" class="wp-image-596810" srcset="https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-1024x504.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-300x148.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-767x377.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-1536x755.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-2048x1007.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-305x150.png 305w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-712x350.png 712w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461-788x387.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-461.png 1690w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Currently trading around $8.5, RENDER’s price action is displaying a textbook retest of the breakout zone, which technical analysts often interpret as a <a href="https://www.investopedia.com/trading/continuation-patterns-introduction/" target="_blank" rel="noopener noreferrer nofollow">bullish continuation signal.</a> The breakdown of a dominant downward trendline preceding this rally adds further credence to the bullish narrative.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/bitcoin-btc-price-risks-further-downside-if-this-key-support-fails-top-analyst-sees-40k-next/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Risks Further Downside if This Key Support Fails: Top Analyst Sees $40K Next</a></em></strong></p>
<p>Market participants should monitor the $6-8 support zone closely, as it represents a critical area for maintaining bullish momentum. A breach below this range would likely invalidate the upward trajectory. However, if the price successfully maintains support above this zone, the path toward $13 appears technically feasible.</p>
<p>The technical setup is bullish, but traders should remain mindful of external factors that could influence price action, including market sentiment shifts and macroeconomic developments.</p>
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<p>The post <a href="https://captainaltcoin.com/this-chart-explains-why-the-render-price-could-be-ready-for-a-rally-to-13/" rel="noopener noreferrer nofollow">This Chart Explains Why the RENDER Price Could Be Ready for a Rally to $13</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

This Chart Explains Why the RENDER Price Could Be Ready for a Rally to $13

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