- Altcoin RENDER still sits inside a major long-term buy zone.
- Analysts discuss various bull targets to reclaim.
- Could RENDER enter price discovery this year?
The crypto community continues to watch the charts of several promising altcoin assets with extra vigilance as most show highly bullish indicators across their respective price charts. At the moment, many experts are considering the possibility of ETH outperforming BTC, which could lead to a bullish altseason price pump phase. Presently, the Render Network’s native altcoin RENDER still sits inside a major long-term buy zone.
Altcoin RENDER Still Sits Inside a Major Long-Term Buy Zone
According to CoinMarketCap analytics, the price of RENDER is up by almost 40% in the last 30 days. Specifically, at the moment, it is up by 37.37% over the last 30 days. However, over the last 7 days and the last 24 hours, the asset is not up by much, showing how the altcoin is struggling to get back up over the $2 price range. At the moment, the asset is trading at the $1.99 price range.
Despite RENDER’s recent surge and its brief price recover of the $2 price range, the analyst in the post above believes that RENDER is still sitting inside a major long-term buy zone. The expert goes on to highlight how RENDER has spent months building a base around the $1 – $2.5 price range area after a deep correction. If this zone holds and momentum returns, the first major level to watch will be around the $4.60 price range.
Above that, the analyst goes on to clarify, the bigger resistance sits near $10.30, followed by the previous highs around $13.75. However, a clean break above that area would put the price of RENDER into the price discovery range. This could be a very exciting development for the popular altcoin asset. While these numbers seem high, a sudden surge could lead to a parabolic leap in prices. Can RENDER pull off such a pump this year?
Analysts Discuss Various Bull Targets to Reclaim
As we can see from the post above, this reputed figure in the crypto space goes on to share his point of view on RENDER which he believes to have one of the clearest real-world use cases in crypto. In particular, the post goes on to shed light on how the network connects GPU supply with demand for rendering and AI workloads, which gives it exposure to two strong long-term trends.
Despite this praise, the analyst goes on to mention what holds him back from going all in on the asset, which is competition. To put it simply, Decentralized computers are getting crowded, and strong technology does not automatically guarantee token demand. Thus, he concludes that despite truly liking the project, he hopes to see stronger sustained usage before becoming much more bullish.
