Render Revving Up: Analyst Predicts Potential Climb To $16

Source Newsbtc

Render (RNDR), the cloud-based rendering network, is stirring excitement in the crypto market with technical indicators and analyst predictions hinting at a substantial price surge in the coming weeks or months.

Render Breaks Free From Technical Chains

Technical analysis paints a bullish picture for RNDR. The token has recently broken out of a bullish technical pattern known as the Dragon Pattern, also referred to as the supply line. This breakout historically signifies a potential shift in momentum, with prices likely to trend upwards.

Adding fuel to the fire, analysts are observing the formation of Three Rising Valleys on RNDR’s chart. This pattern suggests a potential market bottom has been established, indicating a reversal from previous downward trends.

Furthermore, a bullish divergence on the four-hour chart hints at weakening selling pressure. In simpler terms, sellers are struggling to push prices down, failing to break below previous lows.

DoJi, a prominent crypto analyst, sees these technical indicators as a recipe for a price surge. Based on his analysis of the Three Rising Valleys, DoJi has set a price target of around $13 for RNDR. He even goes as far as suggesting a price explosion beyond $20 if historical price movements repeat themselves.

According to DoJi, surpassing a key resistance level of $9.20 could be the catalyst that ignites this bullish momentum.

RNDR Up 250% In 6 Months – But Can It Break Resistance?

In the previous half-year, RNDR’s value rose by an astounding 250%. The pattern of impulsive and corrective moves in the price fluctuation points to a turbulent market.

Forecasting the price trajectory of RNDR in the future offers both cautious and optimistic options. There is expected to be resistance at $10.90 and a larger barrier at $13.30.

If the price drops, $6.18 or even lower, $3.79, may provide support. RNDR network adoption rate and general market trends could drive price fluctuations, but long-term indications like the 100-day average point to a possible stabilization around $8.92.

Analyst Chimes In With Optimistic Predictions

Meanwhile, DoJi isn’t the only crypto expert bullish on RNDR. Inspector Crypto, another well-respected analyst, has identified a bullish Inverse Head and Shoulders Pattern on RNDR’s chart. This pattern typically precedes a price increase, and Inspector Crypto has projected a target range of $14-$16 for RNDR based on this pattern.

The combined optimism from DoJi and Inspector Crypto reflects a broader sentiment of anticipation surrounding RNDR. While the token has experienced a slight dip in price recently, many analysts are closely monitoring its performance, waiting for the upswing signal.

Featured image from Pexels, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
2025 Black Friday is coming! Which stocks may see volatility?Coming on the day right after Thanksgiving in the United States, Back Friday marks the start of the holiday shopping season. Sales data from this shopping frenzy day reflects investor confidence and consumer trends. The National Retail Federation (NRF) predicts that holiday season (Nov and Dec) retail sales in 2025 will likely exceed $1 trillion for the very first time, which represents a year-over-year increase of 3.7 to 4.2 percent. Historic data from the past decade show that the retail sector has generally outperformed the S&P 500 during the weeks before and after Black Friday. The following retailing companies are expected to be big winners:
Author  Insights
Nov 24, Mon
Coming on the day right after Thanksgiving in the United States, Back Friday marks the start of the holiday shopping season. Sales data from this shopping frenzy day reflects investor confidence and consumer trends. The National Retail Federation (NRF) predicts that holiday season (Nov and Dec) retail sales in 2025 will likely exceed $1 trillion for the very first time, which represents a year-over-year increase of 3.7 to 4.2 percent. Historic data from the past decade show that the retail sector has generally outperformed the S&P 500 during the weeks before and after Black Friday. The following retailing companies are expected to be big winners:
placeholder
Bitcoin Targets $89K Breakout as S&P 500 Nears ATH on Fed Rate Cut HopesBitcoin price action shows signs of a potential short squeeze as it hovers near $88,000, with analysts watching liquidity dynamics that could push it toward $89,000 or retrace to $85,000.
Author  Mitrade
Yesterday 03: 31
Bitcoin price action shows signs of a potential short squeeze as it hovers near $88,000, with analysts watching liquidity dynamics that could push it toward $89,000 or retrace to $85,000.
placeholder
Ethereum Reclaims $3K Handle—Is a Breakout Imminent?Ethereum has jumped back above $3,000 and reclaimed key Fib levels, with a bullish trend line at $2,880 and strong MACD/RSI readings putting a breakout above $3,120–$3,165 — and a possible run toward $3,320–$3,350 — on the table, as long as support around $2,980–$2,920 holds.
Author  Mitrade
Yesterday 03: 42
Ethereum has jumped back above $3,000 and reclaimed key Fib levels, with a bullish trend line at $2,880 and strong MACD/RSI readings putting a breakout above $3,120–$3,165 — and a possible run toward $3,320–$3,350 — on the table, as long as support around $2,980–$2,920 holds.
placeholder
Bitcoin Price Forecast: BTC extends recovery as ETF records positive flows Bitcoin (BTC) price continues to trade in green above $91,500 at the time of writing on Thursday after rebounding from the key support level.
Author  FXStreet
22 hours ago
Bitcoin (BTC) price continues to trade in green above $91,500 at the time of writing on Thursday after rebounding from the key support level.
placeholder
Bitcoin Takes a 'Major Leap Forward' with $97K Price Targets in SightBitcoin holds steady above $90,000 as traders eye $100,000, buoyed by Thanksgiving market lull.
Author  Mitrade
4 hours ago
Bitcoin holds steady above $90,000 as traders eye $100,000, buoyed by Thanksgiving market lull.
goTop
quote