RENDER is trading in a critical accumulation zone after a significant 91% drop from its all-time high of $13.83. Currently positioned between $1.35 and $1.00, this zone is seen as a pivotal opportunity for potential long-term gains. Analysts suggest that if the $1 support level holds, RENDER could experience a substantial rally, with targets set at $2.70, $5.50, $13.00, and potentially $28 or higher.
The 0.786 Fibonacci retracement level at $0.845 is identified as a crucial bull-bear threshold. A weekly close below this level could invalidate the bullish outlook. However, as long as RENDER remains above $1, the upside projections remain viable. The current market structure mirrors previous cycles, where similar conditions led to significant price expansions. Traders are closely watching the price action around the $1 support and the $0.845 Fibonacci level to gauge the next macro phase for RENDER.
RENDER Tests Key Support After 91% Drop, Eyes Potential Rally
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