Render (RNDRUSD) Price Forecast: May 11
RNDRUSD holds a recovery opportunity with a bullish reversal pattern. The coin may likely bounce up to level $14.00 supply level as it faces the upper channel. The price breakout from $9.41 to the $11.22 retracement level points to a higher potential for buyers to lead an extended recovery trend.
The potential breakout from the immediate resistance of the $11.22 level will give additional confirmation for a bullish recovery if the bulls can increase their efforts in the market.
Key Levels:
Resistance Levels: $9.00, $10.00, $11.00
Support Levels: $5.00, $4.00, $3.00
RNDR (USD) Long-term Trend: Bullish (Daily Chart)
RNDRUSD price is about to bounce up to the upper resistance channel for a high-momentum rally. The price bars can be seen above the supply levels which portrays a bullish market trend in its long-term outlook. 
The bullish pressure to a $10.86 resistance level in the last few days has made it possible for the coin price to bounce up and remain in an uptrend in its recent high.
Today’s daily bullish candle at the $11.22 supply value above the moving averages confirms the bulls’ dominance in the market. This breakup may accelerate the bullish momentum to bounce up to the $13.83 resistance level and extend the ongoing correction to a higher level.
Additionally, the price of Render might increase further if the bulls could push harder, if this is achieved, the price might bounce up to the $14.00 resistance level in the nearby days and beyond in its higher time frame.
RNDR(USD) Medium-term Trend: Bullish (4H Chart)
RNDRUSD pair may bounce up to the upper resistance level soon as the crypto is currently facing high pressure from the bulls.
The increase in the momentum by the bulls at the $9.97 supply value during yesterday’s session has enabled the coin price to bounce above the supply levels in recent times.
The market price of Render which is above the EMA-50 at the $11.22 resistance level as the 4-hourly chart opens today suggests the high impact of the bulls on the asset. This will give the crypto a high tendency to bounce up further.
Furthermore, the daily stochastic signals an uptrend, if the bulls could push harder and sustain the coin price above the current resistance value at $11.22, the resulting rally may bounce up to hit the $14.00 psychological level at the upside soon in its medium-term perspective.
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