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- Render Token approaches a critical level with bullish momentum signaling potential for significant future growth.
- Increased user activity and Coinbase futures listings boost Render’s presence and momentum in the crypto market.
Render Token (RENDER) is making strong progress as it approaches a key resistance level at $7.843, with indicators pointing to a significantly higher breakout.
Supported by verified bullish trends, crypto analyst Javon Marks said that RENDER is “pushing with strength back towards the key ≈$7.843 level” and might shortly exceed this level. A good breakout might put RENDER on a path for extra near-100% gain, maybe beyond the $15 threshold.
RENDER Rapid Growth Boosts Its Market Rank Above Major Coins
Marks already saw in late October that a Hidden Bullish Divergence was causing RENDER to show momentum. Targeting the $12.30 price area, RENDER was aiming for a recovery action of roughly +150%, based on his estimates at the time.
Marks’ analysis fits the current RENDER performance, which has demonstrated amazing improvement within the previous week.
Meanwhile, RENDER is swapped hands at about $7.34 as of writing, up 22.33% over the last 24 hours and significantly 68.26% over the last 7 days.
With RENDER’s market value raised above $3.7 billion thanks to its outstanding success, it ranks as the 29th biggest crypto by market cap. This highlights RENDER’s recent climb in the rankings since it ranks ahead of both Kaspa and Stellar, presently placed 30th and 31st, respectively.
One may follow Render Token’s progress back to several pivotal events. Especially in late August, CNF highlighted that RENDER got a significant increase when Coinbase included the token into its perpetual futures contracts.
By giving RENDER more market visibility, this list has probably helped to boost trade volume and interest. In expectation of the token’s movement from its former RNDR ticker to the recent RENDER ticker, the Render Network also noticed a notable increase in user activity in July 2024.