- The broader cryptocurrency market is stabilizing after recent turbulence, with Ethereum recovering to $3,540 and altcoins like Render (RENDER) showing early bullish signals.
- RENDER is trading 3% higher today and forming a Bearish ABCD harmonic pattern on the daily timeframe, with the CD-leg extension potentially leading to upside movement.
- The pattern targets Point D around $5.45 (1.53 Fibonacci extension), representing over 50% upside potential from current levels near $3.60.
- A breakout above the 100-day moving average at $3.98 could validate the pattern, while failure to hold support at $3.34 would invalidate the bullish setup.
Date: Mon, Aug 04, 2025 | 07:15 AM GMT
The broader cryptocurrency market is starting to stabilize after last week’s turbulence, with Ethereum (ETH) recovering to $3,540 from its recent low of $3,357. Riding this wave of recovery, several altcoins have begun flashing early bullish signals — including Render (RENDER).
RENDER is trading 3% higher today, trimming its weekly losses to 17%. But more notably, a harmonic pattern is emerging on the chart — a technical structure that could pave the way for a meaningful upside move.
Harmonic Pattern Hints at Potential Bounce
On the daily timeframe, RENDER is forming a Bearish ABCD harmonic pattern — a setup that often involves a bullish CD-leg extension before reaching the final Potential Reversal Zone (PRZ).
The pattern began with a rally from Point A near $2.61 to Point B, then retraced to Point C around $3.34, where buyers stepped in. Since then, RENDER has rebounded and is now hovering near $3.60, suggesting the CD leg is in progress.
The 1.53 Fibonacci extension of the BC leg, known as Point D, sits around $5.45 — and that’s the level bulls are eyeing next.
Adding to the bullish case, RENDER is now approaching the 100-day moving average (100 MA) around $3.98. A successful breakout above this dynamic resistance could further validate the harmonic pattern and attract more momentum traders into the move.
What’s Next for RENDER?
The path forward depends heavily on how price reacts to the key technical zones mentioned above. A clean move above the 100-day MA could act as a launchpad for a rally toward the PRZ at approximately $5.45 — which would mean more than 50% upside from current levels.
However, if the price fails to hold support near the C-leg level at around $3.34, the pattern would likely be invalidated, opening up the possibility of a drop toward the $3.12 zone.
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