Date: Sun, June 22, 2025 | 06:25 AM GMT
As geopolitical tensions between Israel and Iran continue to intensify, the broader cryptocurrency market remains under heavy pressure. Ethereum (ETH), one of the leading assets in the space, has dropped sharply from a monthly high of $2,877 to around $2,290. This wave of volatility has had a cascading effect across altcoins, and Render (RENDER) is no exception.
Over the past week alone, RENDER has lost 12% of its value, bringing its monthly losses to a staggering 43%. But beyond the red candles, a closer look at the chart reveals a potentially bullish structure — a fractal that closely resembles its late 2024 breakout formation.
Fractal Suggests Bullish Reversal Ahead
When looking back at RENDER’s price action in late 2024, the token followed a classic recovery setup. It was caught in a prolonged downtrend that ultimately led to the formation of a falling wedge — a pattern that often signals an upcoming breakout. Once the wedge broke to the upside, RENDER briefly consolidated in a small secondary wedge before exploding with a 143% rally that pushed the price close to $12.
Interestingly, the current price structure is following nearly the same trajectory. In June 2025, RENDER has once again broken out of a larger falling wedge, followed by another minor wedge-shaped consolidation. Right now, the price is trading in the key support zone of $2.57-$3.10 and is moving closer to its 100-day moving average, which sits around $3.98.
This mirror-like setup of previous bullish price action strongly suggests the potential for another upward surge, especially if the key technical levels are reclaimed in the coming sessions.
What’s Next for RENDER?
For this bullish fractal to fully play out, RENDER must hold the support zone between $2.57 and $3.10, break above the short-term wedge resistance, and reclaim the 100-day moving average. This move would serve as a catalyst to attract fresh buyers and could ignite a strong momentum rally — just like it did last time.
If the pattern repeats, the next upside target is projected near $9.90, which would mark a 226% rally from current levels. This zone also coincides with the long-term descending resistance trendline that has capped previous advances. A successful breakout above that trendline would further validate the bullish continuation and potentially open the door to even higher price levels.
Still, it’s important to acknowledge that macro conditions remain fragile. Global uncertainty continues to influence investor sentiment across all markets. Traders should remain cautious and wait for clear confirmation — ideally in the form of a strong breakout accompanied by volume — before making aggressive entries.
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