Render (RENDER) Price Outlook: Analyst Sets One Condition for a Rally

The RENDER price has been moving, but not in a way that impresses everyone. Prominent analyst CyrilXBT says Render is a completely different story compared to other altcoins. The 200 EMA is still trending down at $2.08.

A massive resistance zone sits between $3.80 and $4.40. And the RENDER price has not been able to break above $2 with any conviction. His verdict is simple. Not interested yet. He needs to see a clean reclaim of the 200 EMA before this gets on his radar.

What the Render Daily Chart Shows

We had a look at the chart shared by Cyril. The RENDER price closed the latest day at $1.895, up 1.07% on the session, with a high of $1.965 and a low of $1.834. Volume is light at 5.68 million. 

The 200 EMA sits above at $2.089, and it is still sloping downward. That is a bearish signal. The RENDER price has been trading below the 200 EMA for months. Every time it has tried to approach that level, sellers have stepped back in.

The resistance zone above is massive, ranging from $3.80 to $4.40. That is not a small hurdle. That is a ceiling that would take significant buying pressure to break. The RENDER price is currently at $1.89, which is less than half of the lower end of that resistance zone. The path to any real upside is long.

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Why This Analyst Is Not Interested

CyrilXBT is not being negative for the sake of it. He is being disciplined. His radar only activates when the RENDER price reclaims the 200 EMA with a clean break. That means closing above $2.08 with conviction, not just wicking above it and falling back. Until that happens, the trend is still bearish. The 200 EMA is still trending down. The RENDER price has not proven itself.

The massive resistance zone between $3.80 and $4.40 is a secondary concern. It matters, but only after the 200 EMA is reclaimed. First things first. The RENDER price needs to get above $2.08 and hold it. That is the first test. Everything else comes after.

Where the RENDER Price Goes From Here

The RENDER price is at $1.89. The 200 EMA is at $2.08. That is a 10% move to the first major test. A clean break above $2.08 would put the Render price on traders’ radar for the first time in months. 

A rejection would send the price back toward the recent lows near $1.80 and $1.70. The massive resistance zone at $3.80 to $4.40 is not even in play yet. The RENDER price has to get through $2.08 first. Traders are waiting for that reclaim. 

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The post Render (RENDER) Price Outlook: Analyst Sets One Condition for a Rally appeared first on CaptainAltcoin.