Render Holds Key Support After 29% Drop, Analyst Targets $12

Render
(RENDER)
is
currently
trading
above
a
crucial
support
level
following
a
substantial
29%
decline
from
its
recent
highs.
Amidst
widespread
market
selling
pressure,
Render’s
ability
to
maintain
this
technical
level
could
set
the
stage
for
a
significant
price
surge
in
the
coming
weeks.

As
the
broader
market
experiences
turbulence,
Render
stands
out
for
its
resilience
at
this
pivotal
point.
Analysts
and
traders
are
closely
monitoring
the
situation,
with
one
chart
expert
offering
a
bold
prediction
for
the
altcoin
trajectory
over
the
next
few
months.
If
the
support
level
holds
firm,
the
price
could
see
an
aggressive
upward
movement,
making
it
a
critical
asset
to
watch
for
potential
gains.

Render
Looks
Past
$11 

As
the
market
undergoes
another
correction
since
its
highs
in
March,
traders
and
investors
are
adjusting
their
positions
for
the
upcoming
months,
with
many
optimistic
about
Render’s
potential.
Amidst
this
market
volatility,
it
has
captured
significant
attention
due
to
its
performance
and
potential
for
substantial
returns.
Top
charting
analyst
Marco
Polo
recently
shared
on
X
an
analysis
that
highlights
Render’s
recent
bottoming
out
on
August
5.
Polo’s
projection
indicates
that
the
price
could
reach
$11.88
by
the
end
of
the
year,
which
is
a
critical
resistance
level.

Polo’s
analysis
suggests
that
once
Render
starts
its
uptrend,
the
movement
is
expected
to
be
both
aggressive
and
rapid.
This
rapid
ascent
could
present
challenges
for
retail
investors
trying
to
enter
the
market
early.
The
anticipated
surge
may
create
a
situation
where
the
price
gains
momentum
quickly,
making
it
difficult
for
those
who
are
not
already
positioned
to
take
advantage
of
the
initial
stages
of
the
rally.

The
current
market
dynamics,
coupled
with
Polo’s
bullish
forecast,
suggest
that
Render
could
be
poised
for
significant
gains
if
it
continues
to
hold
above
its
key
support
levels.
Traders
and
investors
are
closely
monitoring
the
price,
positioning
themselves
in
anticipation
of
a
potential
breakout.
As
it
approaches
crucial
resistance
levels,
the
market
will
focus
on
its
ability
to
sustain
its
technical
strength
and
capitalize
on
the
anticipated
uptrend.

Technical
Levels
To
Watch 

Render
is
currently
trading
at
$5.27,
maintaining
its
position
above
the
4-hour
200
moving
average
(MA)
of
$5.10.
This
key
technical
indicator
is
crucial
for
assessing
price
strength,
as
it
often
signals
support
when
respected.

After
a
brief
dip
below
this
moving
average
for
a
few
hours,
the
price
has
since
recovered
and
is
now
trading
above
it
again.
This
recent
price
action
suggests
that
a
potential
move
toward
higher
prices
could
be
on
the
horizon
in
the
coming
days.

Should
the
price
fail
to
hold
the
4-hour
200
MA
as
support,
the
next
critical
level
to
watch
is
around
$4.63.
This
level
would
be
the
next
point
of
testing
if
the
current
support
fails,
potentially
indicating
further
downside.

Traders
should
closely
monitor
the
price
action
around
these
levels,
as
holding
above
the
200
MA
could
signal
continued
bullish
momentum,
while
a
drop
below
could
prompt
a
deeper
correction.