Date: Tue, Nov 19, 2024, 12:16 PM GMT
In today’s cryptocurrency market, two leading AI-tokens, Render (RENDER) and The Graph (GRT), have experienced significant bullish momentum. RENDER surged over 7%, while GRT climbed more than 11% following key breakout levels, fueling speculation of a potential rally ahead.
Render (RENDER)
The rapid rise in RENDER’s price is attributed to a breakout above the critical resistance level of $8.00, which is now its support level [S]. The token is now trading at $8.22, supported by strong bullish sentiment.
According to the technical chart, the breakout has cleared the way for a potential rally toward the next major resistance level at $10.87—an upside of approximately 33% from the current price.
The Graph (GRT)
Following in RENDER’s footsteps, GRT also broke through a significant resistance level at $0.2230, which is now its support level [S]. It is currently trading above this level at $0.2296, signaling strong buyer interest.
The next potential target for GRT lies at $0.3046, representing a 32% increase from its current price. The technical chart shows a well-formed breakout, supported by rising RSI levels. If GRT sustains this trend, it could attract further buying pressure and move toward higher resistance zones.
Is a Rally Ahead?
Both RENDER and GRT have shown bullish technical patterns, with strong breakouts and minimal immediate resistance levels in sight. If the tokens maintain their upward momentum, they could see significant gains in the coming weeks. However, traders should exercise caution, as markets remain volatile, and a retest of breakout levels is always possible.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are inherently risky. Conduct your own research before making any financial decisions.