RENDER rallies 17% to 5-month high as AI tokens heat up – More gains ahead IF…

RENDER continued with its bullish streak, jumping to a five-month high of $2.403, before slightly retracing. 

As of this writing, RENDER traded at $2.35, up 17.06% on the daily charts. Over the same period, the altcoin’s trading volume climbed 294% to $245 million, a clear sign of strong bullish pressure. 

The current price uptick was largely driven by the rising demand across the AI sector. According to Santiment Intelligence, RENDER’s momentum stems primarily from continued expansion in demand for AI infrastructure. 

Over the past year, Render Network has expanded its GPU capabilities and infrastructure. These developments have attracted many users to the ecosysem. 

Santiment noted that Render’s Active Addresses jumped to 394, while 118 new wallets were created. As a result, both reached a 12-week high, reflecting strong network usage. 

Speculative demand also hit the market

In addition to growing usage, traders took the opportunity to speculate. According to CoinGlass data, Open Interest jumped 62.7% to $125.2 million while the Derivatives Volume rose 166% to $364 million.

Such a jump in both OI and Volume showed increased market activity, with new positions being opened either long or short.

Meanwhile, RENDER’s Long/Short Ratio rose to 1.8, with longs accounting for 64% of the total positions. This suggests that traders were bullish and opened long positions in anticipation of further gains.

Profit taking surges, threatening the rally.

As RENDER jumped to a five-month high, investors, especially short-term holders, saw their profit margins expand. In fact, the MVRV Long/Short Difference metric dropped to a monthly low of -40%.

The metric is in negative territory, suggesting that recent buyers are currently enjoying higher profits. At the same time, long-term holders have yet to recover profitability.

This rising profit margin pushed some to cash out. CoinGlass data showed a positive Spot Netflow, which remained positive for over a week.

At press time, Spot Netflow sat at around $2.3 million, with $30 million flowing out compared to $32 million flowing in. This suggests that sellers were active in the market; higher seller dominance often precedes a weakened market.

Can the upside hold?

With RENDER’s upside momentum remaining strong despite profit-taking, it is bolstered by high network usage and market-wide speculative demand.

The altcoin’s Relative Strength Index (RSI) jumped to 74, indicating strong upside with buyers enjoying total market control. At the same time, the Momentum Index rose to 0.5, further confirming the trend’s strength.

Taken together, these two indicators suggest bulls have control of the market, a recipe for continued upside.

Thus, if the market conditions hold, RENDER will clear $2.7 resistance and eye $3. If the market faces rejection at the current level, a drop to $1.8 will follow.

Final Summary

• Rising AI infrastructure demand pushed RENDER above $2.40 as network activity and Trading Volume accelerated sharply.
• RENDER could target $3 if momentum continues, while rejection near current levels may send the price toward $1.8.