Render Price Holds Above $2 as Sell Pressure Fades: Can Bulls Sustain the Rally?

After spending several weeks under pressure, Render (RENDER), the native token powering decentralized GPU has started to outperform as decentralized rendering drew real-word interest.

With 100k worth of positions liquidated around $2.40, the next liquidity pool was at around $3. This may fuel further upside ahead.

Furthermore, the Open Interest (OI) gradually increased this week. As of writing, posting a surge over 27% to $76.2 Million, reflecting increasing buyer interest.

What Must Happen for Bullish Continuation

For Render price to confirm a trend reversal, bulls must flip the $3 resistance level into support. A decisive close above this region would validate a channel breakout and could push RENDER price toward $4 followed by $5 levels.

Failure to hold above the $2 20 mark could force another consolidation phase and may retest the swing lows of $2 and $1.60 in the coming sessions.

Until a clean breakout, RENDER remains in a recovery to reversal transition phase.

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