Render (RNDR), the Ethereum-based altcoin, has made waves in the cryptocurrency market with a significant price surge. The RNDR price recently reclaimed the $8 mark, surging by 8.10% in just 24 hours, which has reignited renewed optimism among investors. With this jump, Render is positioning itself for a potential rally towards new highs, leaving many wondering: could this altcoin rise to $10, or will bearish trends undermine its gains?

Render’s Price Surge: A Strong Start to the Week

Render has been on a strong upward trajectory this month, recording a remarkable 50% increase in value. This surge has propelled RNDR to a five-month high and solidified its place in the cryptocurrency market with a market capitalization of $4.17 billion, placing it in the 29th position among all cryptocurrencies.

The recent 8% jump above the $8 mark is a clear signal of sustained bullish sentiment. Notably, Render has been consistently trading within an ascending channel pattern since the start of the month, further indicating that the token may have more room to grow. Investors are now eagerly eyeing whether the price can continue this upward trend and possibly reach the coveted $10 mark in the near future.

Bullish Indicators: EMA and MACD Suggest Continued Growth

Several key technical indicators are supporting the notion that Render may continue its bullish momentum. One of the most notable signals comes from the Exponential Moving Average (EMA) 50/200-day charts. The two moving averages are on the verge of creating what is known as a “Golden Cross,” a widely watched bullish indicator. When the 50-day EMA crosses above the 200-day EMA, it often signifies a stronger buying trend, potentially leading to more sustained price increases.

In addition to the Golden Cross, the Moving Average Convergence Divergence (MACD) indicator also shows positive momentum. The green histogram, which has been consistently increasing, reflects the growing buying pressure for Render. This suggests that the bulls are still in control of the market, and the price could continue climbing in the coming days.

Will Render Break Its All-Time High This Year?

With its strong technical indicators, Render seems poised to challenge its previous all-time highs (ATH). As RNDR continues to trade in the ascending channel, the immediate resistance level lies around $9. If the bullish sentiment holds and market conditions remain favorable, Render could push through this resistance and potentially retest the $10 level.

The possibility of hitting a new ATH this year is becoming increasingly likely, especially considering the current market conditions. If Render continues to gain traction, it may very well surpass its previous record. However, the cryptocurrency market remains volatile, and a sudden change in sentiment could derail the rally.

Bearish Risks: What Could Cause a Pullback?

While the bullish case for Render remains strong, it’s important to consider the possibility of a pullback, especially given the unpredictability of the crypto market. If bearish pressure takes over, Render could experience a reversal and drop toward its support trendline, currently located around $7.185.

If the bulls fail to regain momentum at this point, the price could fall further to retest the next major support level at $5.50. A drop to these levels would indicate that the market sentiment has shifted, and investors may need to wait for a new signal of strength before considering further investments in Render.

What’s Next for Render? Market Outlook

The next few days will be crucial for Render as it tries to maintain its bullish momentum. If the price can break through the $9 resistance level, a rally toward $10 could be within reach. However, the token’s ability to hold above the $8 level and avoid a bearish reversal will be critical in determining whether it can reach new highs this year.

Given the strong technical indicators, including the impending Golden Cross and positive MACD, Render’s prospects for continued growth are promising. Investors are watching closely to see if this momentum will translate into further gains, or if market conditions will cause a pullback.

Conclusion: Could Render Reach $10 Soon?

Render’s recent price surge has reignited interest in the altcoin, with many wondering if it’s on track to hit a new all-time high. With a 50% increase this month and strong bullish indicators, Render could be on the verge of testing the $10 mark. However, the crypto market’s volatility means that a sudden pullback is always a possibility.

For now, Render’s price is showing signs of continued growth, but investors should remain cautious and keep an eye on key support levels. Whether it will break its ATH this year or experience a pullback remains to be seen, but Render is certainly a cryptocurrency worth watching in the coming weeks.