The post Render challenges $4.4 resistance: Will bulls reach $7 or fall back? appeared on BitcoinEthereumNews.com.

Render bulls challenged the $4.4 resistance level, aiming for a breakout toward $7. The distribution trends and lack of development activity were warning signs. In a post on X last week, user Bitcoinsensus noted that Render [RENDER] was set to climb higher from the $3 demand zone. A reclamation of the $4.4 could set up a breakout beyond $7 and present a buying opportunity, as noted in the attached chart. Source: Bitcoinsensus on X The massive retracement in 2024 and 2025 was seen as part of the bullish pennant that the altcoin has formed. A move beyond $7 would signal a breakout past this pennant, making the previous high at $13 a target. The $4.4 resistance level was being challenged at press time. If it were flipped to support, should traders and investors buy more RENDER? Warning signs from Render Source: Santiment The development activity behind the decentralized GPU-based rendering solutions provider was negligible, according to Santiment data. This was a major concern for investors, as it signaled fewer improvements and patches for the network. The 7-day RSI was at 50, signaling a bullish momentum shift. The social volume has slowly increased over the past month. However, this was not indicative of a RENDER rally by itself. Source: Santiment Another sign of worry came from the network value metrics. The mean coin age has been dropping rapidly in the past three months and was at a level last seen in August 2024. The falling mean coin age indicated that older coins were spent or moved, a sign of selling pressure from holders. The price bounce in the past two weeks took the 90-day MVRV above zero. This showed that medium-term holders were at a slight profit, but also underlined a strong distribution trend. Together, it did not present a buy…

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Filed under: News - @ April 20, 2025 1:05 pm