AI Crypto Awakens: $FET, $RENDER & $OPUL Prepare for a Breakout – Part 2: $10 Breakout to the Moon?

Introduction: Saturday Night Altcoin Fever & Render’s Rise

As November comes to an end, the crypto market continues its spectacular climb. With the Altcoin Seasonal Index rising to 71/100, heavyweights such as $Phil (+19.67%) and $WLD (+26.08%) is dominating the spotlight, but the once-dormant AI crypto sector is has awakened with a vengeance. Yesterday we took a deep dive into Fetch.ai. ($FET – link here) showcased its potential to redefine the blockchain AI sector. Today, the spotlight turns to Render Network ($RNDR)—”Nvidia of blockchain processing”

with ethereum ($ETH) close to 0.040 BTCRender is getting ready to test the psychological barrier of $10, a critical level for reclaiming the March 2024 highs. Let’s analyze the setup for this interesting AI infrastructure project and roadmap towards a breakout. that may occur

Render Network’s core value proposition

Render Network decentralizes GPU rendering by connecting creators and operators of GPU nodes, leveraging blockchain technology to monetize idle computing power. It is designed for the growing AI-powered content creation sector.

Important indicators:

Circulating supply: 517.69M

Market value: $4.69B

Maximum supply: 644.17M

Render has strong tokenomics and minimal inflation risk. Combined with real-world utility in GPU rendering and AI applications, $RNDR is uniquely positioned to drive the next wave of AI adoption and Encrypt

Technical details: Where are we now?

Chart 1W: Fight for $10

The weekly chart shows a systematic recovery from the August 2024 low of $3.40, a textbook Wyckoff Accumulation schematic spring break.

Important support levels:

The $6.90-$7.15 zone corresponds to the 50W MA ($6.95) and the previous resistance turned into support. Forms a strong base for collection.

READ MORE;  Double-digit gains continue as Altcoin season approaches: 4 projects to invest in before 2025

Critical resistance zone:

$8.30-$9.90: Render is currently struggling in this range. This is a key zone remaining from the explosive “God Candle” in March.

$10: Psychological threshold at which confidence will increase or decrease.

$13.85: All-time high price This is a possible target for the bulls once they reach $10.

RSI: Slightly above 60, indicating momentum without overextension.

Volume and Momentum: Weekly volume is increasing after the US elections. But it remains below the November 2023 level, causing a strong move. As the 50W MA rises, dynamic support becomes stronger. This increases the probability of a long-term reversal.

1D Chart: Anatomy of a Breakout

Render’s daily charts highlight precise technical developments:

Incoming Golden Cross: The 50D MA ($6.06) is set to cross above the 200D MA ($6.63), signaling the return of the long-term uptrend.

Dynamic Support: The $6.90-$7.15 zone remains aligned with horizontal support. This was driven by lower pullback volumes and sharply increasing volumes from breakouts.

Fight for $10: Price is testing this psychological level, with RSI confirming strength. A breakout above $10 may trigger a price discovery mode.

Explosive Rhetoric Alert: A complete breakout above $10 could lead to a sharp move up to $12 and $13.85, but volatility remains a factor. So patience is important.

Rendering vs. Bitcoin (RNDR/BTC): Relative Strength

Render’s BTC pairing highlights its superior performance:

Support Flip: Render flips 322 SATs (50W MA) into support, with least resistance at 380 SATs.

Volume Profile: Least resistance above the current level signals the possibility of a faster price move against Bitcoin.

3 key takeaways from both charts

Momentum creating consolidation zones: Both charts focus on rendering consolidation within key resistance zones. ($8.30-$9.90) which was the start of a serious movement.

READ MORE;  Hot Crypto Market: Bulls Highlight 5 Altcoins Set for Explosive 23,700% Growth!

Golden Cross & Wyckoff Spring: Golden Cross and the upcoming Wyckoff Accumulation Spring ($3.40 min) are a powerful confluence. Signaling strong adaptation

Dynamic Supports Rising: The rapidly rising moving average supports $6.90-$7.15, providing a high potential entry point for disciplined traders.

3 Entry Strategies for $RNDR

1. Close above $10

Score: 8/10 – “Parabolic Potential”

Reason: Confirmation of closing above $10 signal strength and price discovery mode. Targeting $12 and $13.85.

Stop Loss: $9.50 – Manage Volatility

Instructions: Wait for quantity confirmation. Without this A false breakout can be disastrous.

Profitability level:

$12.00-$12.50 – Immediate Resistance Zone

$13.85 – ATH March

$15-$16 – Short-term breakout

2. Zone $6.90-$7.15 (Dynamic + Landscape supported)

Score: 9/10 – “Solid Foundation”

Reason: Convergence of horizontal support and sharply rising 50W MA ($6.95).

Stop Loss: $5.80 – Wide enough to avoid noise.

Tip: Use ladder entry and follow price movements. Various institutions are likely to accumulate here.

Profitability level:

$10-$11.95 – Psychological and Technical Resistance

$13.85 – ATH March

$20+ – if the trend accelerates

3. $5.90-$5.00 (Smelly Order Zone)

Score: 7/10 – “Patience pays dividends”

Why: Flash crash levels align with historical reversal points and increased dynamic support.

Stop Loss: $4.50 or watch live

Hint: These levels are a rare opportunity. But it takes patience.

Profitability level:

$8-$9.90 – Quick Recovery Zone

$11.95-$12 – Pre-ATH level

$13.85+ – Aim for the Moon

Positive goals for 2025

Triple Market Cap Target: $27-$30 – A realistic target if Render triples the market cap.

Parabolic Blow-Off Top: $50-$60 – The climax of the 2025 speculative bull run driven by AI hyperbole.

READ MORE;  ETHEREUM Price Analysis 11-30: ETH Bulls Look to End the Year on Highs It is estimated to be $4,000.

Summary: The fight for $10.

Render’s fight for $10 is more than psychology—it’s a gateway to reclaiming ATH and entering price discovery mode. An unimpeded breakout supported by volume could trigger the next uptrend in the upcycle.

Important points:

Accumulate Smart: Focus on strong support zones such as $6.90-$7.15.

Do not chase the pump: wait for confirmation.

Act strategically: Stick to your plan. Volatile markets reward discipline.

As November’s “Moonvember” festival approaches, This is another exciting month ahead. Stay disciplined and prepare for the next AI coin spotlight: Opulous ($OPUL)—Projects with more potential than Render.

Disclaimer:

This article is for educational and informational purposes only. Cryptocurrency investing is speculative and highly volatile. Always do your own research (DYOR) and consult with a financial advisor before investing. Past performance is not indicative of future results.

Source link

Leave a Comment

Free & easy ad network.