Rendering What is the Next Level for RNDR as Bullish Momentum Grows

Coin World News Report:
Render gained bullish momentum after testing key support levels within the symmetrical triangle.
Whale activity and active addresses surged, indicating increasing market interest.
Render [RNDR]
At the time of writing, Render is consolidating within a symmetrical triangle pattern, which is an indicator of volatility.
Although the altcoin tested a key support level, market participants are closely watching for the next move.
The sentiment in the altcoin market is trending bullish, with indicators pointing upwards.
In most cases, a symmetrical triangle suggests a breakout in either direction based on broader market conditions.
Currently, Render is showing early signs of bullish momentum, increasing the likelihood of an upward breakout.
Source: Tradingview
Active addresses surge by 10%
According to AMBCrypto’s analysis, a strong indicator supporting this bullish view is a 10% increase in active addresses.
The increase in active addresses typically indicates frequent user activity, which is often a precursor to price movements.
This increase in activity may suggest that more users or market participants are actively engaged on the Render network, which is closely correlated with increased market confidence.
Major participants entering the market
According to Santiment’s data, in addition to the increased trading activity mentioned above, altcoin whale activity also surged by 84%.
Whales play a crucial role in market trends, and an increase in their activity often signals potential significant price changes.
Render’s bullish bias adds confidence
This indicates a bullish bias, with a significant number of liquidation pools above the current trading price, intensifying the growing optimism. Liquidation pools could serve as price magnets, pulling the Render price higher.
This could also provide further momentum to the ongoing bull market.
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Render [RNDR] price prediction
2024-2025
At the time of writing, Render presents a symmetrical triangle pattern due to the surge in active addresses and whale activity, indicating strengthening bullish momentum.
With a positive liquidation heatmap as a backdrop, Render may experience significant breakthroughs.