Date: Thu, April 17, 2025 | 05:40 AM GMT
The cryptocurrency market has experienced a historically bearish first quarter, with Ethereum (ETH) suffering its worst decline since 2018, dropping a staggering 45%. This widespread downturn has significantly impacted altcoins, including Render (RENDER), which has shed more than 43% of its value this year.
However, as the market showed some signs of relief last week, the AI-focused token rebounded by 15%, hinting at the possibility of repeating a key bullish reversal breakout.
Another Breakout Rally?
While many traders are still hesitant, a closer look at the RENDER chart reveals something very interesting — a repeating fractal pattern that could hint at a major breakout ahead.
In the chart above, RENDER has formed two large falling wedge patterns — one in mid-2024 and another currently unfolding. Historically, falling wedges are considered bullish reversal patterns, and the last time this setup appeared, RENDER rallied over 176% in just 73 days from the breakout point.
What’s even more intriguing is that both wedges share a similar structure:
- The price consistently hugged the 50-day moving average (MA) before the breakout.
- The breakout timing and price behavior align closely, consolidating along the red shaded support zones.
Right now, RENDER is again tightening around the 50 MA, just like it did before the last explosive rally. The circled regions on both wedges look eerily similar, suggesting RENDER might be on the verge of another major move — if the fractal continues to play out.
What’s Next for RENDER?
If the current setup repeats, RENDER could be prepping for a major bullish breakout soon. A brief pullback to the red support zone could occur first, followed by a breakout rally similar to last time, potentially pushing the price back above the $10–$12 range in the coming months.
Momentum indicators like the MACD are also flashing early bullish signals, giving further confidence to this fractal-based analysis.
Of course, nothing is guaranteed in crypto. If the wedge breakout fails, a deeper retest of lower support zones could happen. But based on the chart structure, history might just be ready to repeat — and RENDER could be gearing up for another breakout rally.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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