Date: Sat, June 28, 2025 | 08:01 PM GMT
The cryptocurrency market is showing signs of recovery as tensions between Israel and Iran ease. Ethereum (ETH) has rebounded sharply, jumping from its recent low of $2,113 to climb above the $2,450 level, lifting sentiment across altcoins — including Render (RENDER).
The AI token is back on the green track, and according to the technical chart, this might be just the beginning. A combination of bullish patterns suggests that more upside could be on the horizon.
Patterns Signaling Potential Upside Continuation
On the 4-hour chart, RENDER has broken out of a falling wedge — a classic reversal pattern — signaling the end of a multi-week downtrend. What’s more interesting is the emergence of a bearish butterfly harmonic pattern, which typically anticipates a price move higher before the pattern completes.
The formation began from point X around $3.62, before the price dropped to find solid support at $2.94 (point C). Since then, RENDER has been rebounding and is currently trading around $3.13, just below the 100-day moving average (MA) at $3.27 — a level that could act as a pivot for further gains.
If the harmonic pattern continues to unfold, RENDER may be headed toward the Potential Reversal Zone (PRZ) between $3.90 and $4.25. These targets are based on the Fibonacci 1.272 and 1.618 extensions — common levels for pattern completion in a butterfly structure.
What’s Next for RENDER?
The combination of a falling wedge breakout and an active harmonic butterfly pattern paints a promising picture for RENDER’s near-term trajectory. If the current bullish momentum holds and price successfully breaks above the 100-day moving average, it would confirm both patterns and likely trigger further upside. From current levels, this would imply a potential upside of over 24%, with $3.90 and $4.25 standing as the next key resistance zones.
However, traders should remain cautious. If RENDER fails to hold the $2.94 support level, it could slip into a consolidation phase or even face a pullback before any sustainable breakout.
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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