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Render (RENDER) Price Prediction: Analysts Projects a Breakout Toward $4.20

• 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. 

https://twitter.com/TheRealD0c/status/1965067972185370757

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

Also read: Arbitrum (ARB) Price Prediction: Bulls Eye $0.80 Recovery If Key Support Zone Survives