- Render (RENDER) sees rising whale accumulation, with on-chain data revealing over $6 million in purchases.
- A strong buy wall has formed below current levels, signaling market confidence and support for the token.
- $4.20 remains a major resistance zone, where sellers continue to place heavy sell orders.
Render (RENDER) is moving under bearish pressure with a slight decline in its price, mirroring the overall market sentiment. In general, the market is struggling, but experts are predicting a bullish reversal for RENDER.
At the time of writing, RENDER is trading at $3.78 with a 24-hour trading volume of $62.41 million and a market capitalization of $1.96 billion. The RENDER price over the last 24 hours is down by 4.76%, but over the last week it is up by 3.3%.
Source: CoinMarketCap
Also Read: Render (RNDR) Struggles at $3.54 — Can It Reach $7.79 by 2025?
Whale Buying Pushes RENDER Toward Key $4 Level
The crypto analyst, D0c Crypto, revealed that whale accumulation is building up, with more than $6 million in expenditure during the recent week, according to on-chain data. The fresh buying spree has strengthened speculation in the token, and it is now anticipated that RENDER is gearing up for big moves.
Traders also pay attention because whale activity usually anticipates bull movements in a larger scope. Traders will therefore be watching whether this euphoria creates a robust breakout.
The attention now is at a key level: $4 and above. With sentiment flipping positive and whales accumulating positions, there is wide speculation that the token will hit $4 again soon, with potential still to climb if appetite persists.
RENDER Shows Potential But Faces $4.20 Sell Wall
According to the crypto analyst CW, RENDER is also showing indications of strong support in the market. In recent order books, there appeared a buy wall that has been formed right below the current price level, and this indicates that investors and traders are collectively holding back the price.
However, positive momentum does contain a clear obstacle. There is still a good sell wall in existence at the level of $4.20, which has become a key zone of resistance. The price has been repeatedly hard to break past RENDER, as there are sellers still taking profits or creating exit points at this price.
Source: X
The struggle of mutually hindering walls indicates Render’s current period of market consolidation. If buyers manage to sustain pressure and absorb sell orders, a breakout above $4.20 might open further opportunities for upside.
Conversely, failure to get past this wall might result in price rejections, restricting RENDER to a narrower range of trading.
Also Read: Render Token (RENDER) Gains Attention After Major $20,000 Token Burn
