Render Network (RENDER), the decentralized GPU rendering network, is gaining traction in the AI and DePIN narratives.

Despite a daily drop of nearly 6% over the last 24 hours, the overall outlook remains bullish, with multiple analysts pointing to a strong upside potential.

Render Network (RENDER), the decentralized GPU rendering network, is gaining traction in the AI and DePIN narratives. As RENDER crypto trades around $4.55, recent technical analysis and whale signals suggest the token may be on the verge of a significant breakout.

Despite a daily drop of nearly 6% over the last 24 hours, the overall outlook remains bullish, with multiple analysts pointing to a strong upside potential.

Render Network connects artists and creators to a decentralized pool of GPU resources, enabling next-gen 3D media rendering at scale.

With artificial intelligence and decentralized physical infrastructure networks (DePIN) among the biggest narratives of this crypto cycle, RENDER Network appears well-positioned for a sustained rally.

Crypto analyst Alex from AMCrypto highlighted that $RENDER continues to make higher highs and higher lows. His chart shows the RENDER Coin price breaking out of an ascending channel between around $3.20 and $5.20 over recent weeks.

$RENDER keeps on making higher highs and higher lows.

It connects artists looking to render next-gen 3D media with near-unlimited GPUs in a decentralized global network.

Given that AI and DePIN will be two of the biggest narratives this cycle, RENDER seems like something with… pic.twitter.com.

— Alex (@AMCrypto_) May 17, 2024

His chart shows RNDR breaking out above this channel, with the next major resistance around $5.80 to $6.00.

According to Alex, Render’s use case provides near-unlimited GPU access for 3D rendering, making it a prime candidate for growth, especially as AI-driven projects boom.

Combining technical momentum and real-world utility offers a clear setup for investors looking for an upside in this cycle, he added.

Another bullish signal comes from Froggy (@GemBooster), who noted that the RENDER crypto is “ready for that breakout.”

His analysis shows that after weeks of steady accumulation, the token has reclaimed key support levels and is now pushing higher.

The chart he shared shows a classic cup-and-handle formation. If the current momentum holds, the RENDER coin could surge past the $6.00 resistance and move toward $9.00 to $10.00 by mid-year.

According to Froggy, breakout could trigger a run to the $10–$12 range in the medium term. The chart’s trajectory hints at a potential doubling of the token’s current price if the rally takes shape.

Moreover, 25k-follower-strong analyst King Crypto offered additional insight, highlighting that the Render crypto printed a strong double bottom around $2.50 earlier this year, the final dip before the reversal began.

His tweet emphasized that this accumulation zone laid the groundwork for RENDER’s push toward $5.00.

King Crypto’s chart shows key support at $3.77 and resistance levels near $5.22 and $6.27. He noted that Render’s price action now resembles its previous bullish cycles, and he confidently predicts that RNDR will return to double digits in the coming months.

Several levels are key for traders. Immediate resistance sits at $5.20, highlighted by both King Crypto and Alex from AMCrypto. According to Froggy’s projection, breaking above this could trigger a run toward $6.00 and then $9.00 to $10.00.

On the support side, $4.10 remains a critical level, as this was the zone of recent accumulation. Below that, $3.77 and $3.50 provide additional support, while the $2.50 double bottom remains a vital long-term floor.