RNDRUSD Chart Analysis. Source: GeckoTerminal.com<\/figcaption><\/figure>\nThere are strong signs indicating a possible breakout from a bearish technical pattern for RNDR. <\/span><\/p>\nThe bulls have gained control of the price, bouncing off the lower boundary of the falling wedge.<\/span><\/p>\nAs a result, the price has broken through the resistance level and reached the upper boundary of the wedge, coinciding with the 20-day simple moving average.<\/span><\/p>\nA decisive breakthrough of this barrier would open the door for RNDR to challenge the next resistance level at $2.25, which is above the wedge and aligned with the 200-day moving average.<\/span><\/p>\nThis optimistic outlook is supported by the price crossing above the 50-day simple moving average at $1.51, giving the bulls more momentum to drive the price higher.<\/span><\/p>\nMomentum appears to be increasing, as indicated by the Relative Strength Index (RSI) trending upwards, suggesting intense buying pressure. <\/span><\/p>\nThis could lead to the Render price rising further above the overbought region of 70, confirming the bullish trend.<\/span><\/p>\nIn a highly bullish scenario, the altcoin could aim to reach the psychological target of $2.25. Such a move would represent a substantial 45.3% increase from its current levels.<\/span><\/p>\nA clear breach of the upper boundary of the wedge and the 200-day SMA support, which is at $1.81 and provided by the midline of the technical formation, would invalidate the bullish thesis.<\/span><\/p>\nHowever, there is also the possibility that the Render price could decline further, breaking below the lower boundary of the wedge and potentially revisiting the lower end of the range at $0.951.<\/span><\/p>\nMeme Kombat offers investors the opportunity to achieve high returns on investment through staking and play-to-earn (P2E) gaming, offering a better alternative to Render at this time.<\/span><\/p>\n