- RENDER holds its ascending channel as $3.50 continues to absorb selling pressure.
- Bitcoinsensus flags a breakout setup with targets at $6.00, $13.00, and beyond.
- Momentum weakens, but no structure break yet as RSI and MACD stay above lows.
RENDER/USDT is trading at $3.65, down 2.42% over the past 24 hours. Price remains inside an ascending channel, with $4.07 acting as resistance and $3.50 providing immediate support.
Ascending Channel Holds Despite Pullbacks
Source: TradingView
On the 30-minute chart, RENDER continues to hold its ascending parallel channel. Price repeatedly bounces from the lower trendline, and $3.50 has consistently rejected downside pressure. Despite sharp dips on April 6 and April 14, the structure remains bullish with a pattern of higher lows.
The 20-period EMA hugs price action, reflecting a consolidating phase. RSI dropped to 36.24, with its 14-period average at 34.83, signaling weak momentum without confirming a breakdown. MACD shows limited bullish pressure, with the main line near the signal and a negative histogram.
Bearish crossovers have formed since April 10, yet the price hasn’t broken key support. Volume has remained low during this pullback, highlighting weak conviction behind the retracement. Overall, momentum indicators show softness, but no structural breakdown.
Bull Flag and Pennant Define Macro Outlook
RENDER appears to be forming a macro bull flag on the weekly chart. The flagpole started at $0.80 and extended past $13.00, followed by consolidation inside a descending channel. The bounce near $3.00 marked a third test of the $2.70–$4.00 demand zone, reinforcing structural support.
Bitcoinsensus analysts identify a smaller pennant forming within this flag. The pennant nears its apex, pointing to a potential breakout. The breakout setup targets $6.00 initially, followed by $13.00.
Source: Bitcoinsensus
Bitcoinsensus roadmap projects an eventual surge toward $80.00 based on the measured move. Previous resistance at $2.70 now acts as strong support, while price remains far above the invalidation level at $1.287. With volume compressed during this consolidation, breakout odds increase. Structure remains bullish as long as price stays above $2.70.
Key Breakout Zones to Watch
The $4.07 resistance remains the primary breakout trigger. It has capped upside since early April. A clean move above it with sustained closes may open the door toward $6.00.
Losing $3.50 exposes $2.519 as the next critical support. This zone has historical demand and could produce a bullish reversal if retested with volume.
Momentum signals like MACD and RSI will confirm any breakout. A bullish MACD crossover or RSI divergence could spark upward continuation. Until then, price remains range-bound with a bullish bias.
