- RNDR is consolidating just below $4.72, holding firm above the 50EMA and VP-POC as traders watch for breakout confirmation.
- The Stochastic RSI has dropped into oversold territory, pointing to a potential bounce if volume returns near resistance.
- A bullish scallop pattern has formed, with RNDR maintaining structure after a 14% pullback and stabilization around $4.20.
Render’s native token, RNDR, is consolidating near key technical levels following a retracement from recent highs. Analysts are watching for confirmation signals as the token approaches critical resistance around $4.72.
Price Action Holds Above Key Technical Confluence
Recent chart activity for RNDR shows the asset trading tightly near major indicators and volume-driven price zones. Market positioning suggests that traders are watching the interaction with the 50EMA, Volume Profile Point of Control, and short-term resistance.
Source: Dark Horseman
Momentum has slowed after a rebound, but the structure remains intact. RNDR has approached the $4.72 resistance with volume fading slightly. The consolidation follows a bounce from the $4.20 range, indicating resilience above the moving average cluster.
According to Dark Horseman, the Stochastic RSI has dropped to oversold territory, signaling possible price rotation near-term. He noted RNDR is retesting both the 50EMA and VP-POC, anchored near the $4.26 area. The analyst also pointed out that breaking above $4.72 with RSI strength could confirm bullish continuation.
His review noted the broader market’s cooling-off phase has spared select altcoins, including RNDR, from steep declines. He emphasized that a clear move through $6.67 remains a key target level for bulls. Historical support at $2.67 still defines the downside boundary, serving as a technical safety net.
Scallop Pattern Suggests Continuation Bias
The pattern analysis presented by Trade Oracle in CoinMarketCap provides additional insights, highlighting a classic bullish scallop formation. His breakdown mapped a steep rally from late March to April highs, followed by a rounded pullback.
Source: Trade Oracle
The advance from $2.80 to $4.90 formed the initial leg, with the pullback finding support at $4.20. According to Trade Oracle, this shaped a textbook scallop curve, where the price declined just 14% before stabilizing. He explained that the volume profile confirmed buyers led the impulse, while sellers weakened during the correction.
The structure holds symmetry from points A to C, aligning with common scallop continuation behavior. Trade Oracle noted RNDR remains near $4.37, just under the previous local high. The asset continues to trade within range, awaiting confirmation of breakout strength.
This setup reinforces the potential for upside if volume returns near resistance. RNDR maintains structural integrity, with both price action and volume signaling buyer control through the consolidation. The technical framework remains valid while support holds above the 50EMA.
