RENDER Price Could Plunge to $1 After Breaking Critical Support: Expert Warns

Render's price is falling. It dropped below the $3.30 support level, which is bad news for investors. This breakdown might push the price all the way down to $1.00. By: Alice

Render’s price is on the move again, and it could be setting up for a steeper decline.

After pulling back from the $3.30 support level, which is a critical point for buyers to defend, the price of Render (CRYPTO: RNDR) is continuing lower. This breakdown could open the door for a steeper drop, potentially pushing the price all the way down to $1.00.

Breaking This Could Open the Door For A Drop to This Level

Crypto analyst Ali pointed out on X that breaking below $3.30 makes a move to $1.00 more likely. This aligns with a previous chart that highlighted key price levels to watch.

At the time, the analyst said that breaking below $3.30 would make lower lows more likely, putting the $1.00 price level more in focus.

Also, traders are noticing that Render’s price has been making lower highs and lower lows, which is a sign of a downtrend. From the peak above $11.00, the price has been making a lower high at $7.50, then $5.00, and now $3.30.

As the price trends lower, it’s also testing several support levels. From the $11.00 high, the price has tested support at $9.00, $7.50, and $5.00. However, these price levels have now become resistance.

The Importance Of This Level For RNDR

At the moment, the price is testing the $3.30 support, and breaking this level could make lower lows more likely. The next price level to watch on the way down is the $2.60 level.

From here, the price could drop to test the $1.00 price, which is a key level that traders will be watching out for.

Also, traders will be watching the trading volume closely. Higher volume on the sell-off could confirm that the downtrend is set to continue.

A weekly candle close below $3.30 would strengthen the bearish outlook. But if the buyers manage to push the price back above $3.30, then this could stabilize the price.

Render Price Prediction: What Next For RNDR?

The market will be looking for any signs that the price could stabilize at a higher level.

Testing the broken support levels could help to clarify whether Render’s price recovery is running out of steam or if it’s preparing for a steeper leg down.

Despite the short-term price swings, the analyst says that staying above key levels will be critical for Render to recover. Traders will be looking at upcoming weekly candle closes and trading volume for more technical analysis.