RENDER’s price eyes 40% rally – Here’s what must happen first!

RENDER, the native token of Render, may be poised for a notable upside rally as it approaches a bullish breakout. In fact, the larger cryptocurrency market sentiment appears to be recovering too, with top assets like Bitcoin (BTC), Ethereum (ETH), and XRP maintaining a positive outlook.

RENDER bullish on-chain metrics

Amid a positive outlook, long-term holders and traders have demonstrated strong interest and confidence in the token, according to the on-chain analytics firm Coinglass. Data from RENDER’s Spot inflow/outflow revealed that exchanges worldwide recorded significant outflows of $3.69 million worth of RENDER.

In the realm of cryptocurrencies, “outflow” refers to the movement of assets from exchanges to wallet addresses, indicating potential upside momentum and an ideal buying opportunity.

Meanwhile, Render’s Open Interest surged by 10% in the last 24 hours, reflecting a hike in traders’ interest and the formation of new positions. Especially as the price seemed to close in on the breakout level.

((Disclaimer: The content of the article sloley represent creater's opinions and does not have any affiliation with our platform. It Should not be considered as advice for investment decisions.))

#BTCXmasOrDip? #BinanceLaunchpoolBIO #GrayscaleHorizenTrust #MicroStrategyInNasdaq100 #BTCNextMove $BTC $ETH $SOL