Render Token Surges Above $2.25 Amid Rising On-Chain Activity
- Price Surge: Render token surpassed $2.25 on May 26, gaining 13.16% over 24 hours and 24.16% over seven days, indicating strong market interest in its AI computing narrative, which may attract more investors into the market.
- On-Chain Activity Spike: According to Santiment, Render's daily active addresses reached 394 in one day, with 118 new wallets created, both hitting 12-week highs, suggesting an influx of new users into the Render ecosystem, enhancing its market appeal.
- Derivatives Trading Activity: Render's derivatives trading volume rose by 126.52% to $302.39 million, while open interest increased by 47.27% to $112.82 million, indicating heightened trader interest that could lead to increased price volatility in the future.
- Market Capitalization: Despite the recent rally, Render's market capitalization stands at $1.16 billion with a circulating supply of 518.74 million tokens, remaining significantly below its all-time high of $13.53 set in March 2024, reflecting cautious sentiment regarding its long-term potential.
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Technical Analysis for RENDER
Technical Sentiment Analysis for Render (RENDER). As of , Render (RENDER) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 5 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RENDER stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, RENDER is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Render (RENDER) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.051 | 1.408 | 1.723 | 2.08 | 2.395 | 2.752 | 3.067 |
| Fibonacci | 1.408 | 1.665 | 1.823 | 2.08 | 2.337 | 2.495 | 2.752 |
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