Render Price Prediction: Why RNDR Could Soon Top $20

Highlights:

• Render headed toward the $11.74 resistance
• A rally through $11.74 resistance could push Render to $20 in the short term
• An increasingly bullish Bitcoin could help push Render to $20 soon

Render (RNDR) is promising compared to most altcoins in 2025. After establishing support at $6.69 on December 31, 2024, Render has been making solid gains closing higher with each day since January 1st. This is an indicator that bullish sentiment is on the rise for Render. Today, Render’s price action is no different.

At the time of going to press, Render was up by 6.27% to trade at $8.55. Trading volumes are also rising, up by 41.34% to hit a high of $477.86 million. A couple of factors could help sustain RENDER price momentum going into the near future. One of them is its price action, which is likely to trigger more buyers to take positions in Render.

Technical Analysis – Render Trending Higher a Signal to Rising Momentum

Render’s price action in the day points to rising bullish sentiment. Render has been closing higher for 6 days in a row. This is an indicator that bulls are firmly in control in the short term. This is a factor that could see buyers take a keener interest in Render going forward. Such momentum is likely to get stronger especially if Render rallies through its December high of $11.74. This could trigger FOMO as investors anticipate prices as high as $20 in the short term.

That said, there is always reason to be cautious. For starters, if Render fails to push through the December high of $11.74, then two scenarios could play out in the short term. The first is a possible consolidation between $11.74 now resistance and $6.69 multi-week support. The second scenario is where bears take control and push Render through the $6.69 support, then a correction to prices below $5 could follow.

Render Fundamentals Support Bullish Continuation

The odds of a continuation of the bullish momentum Render has built so far is quite high. That’s because besides the impressive price action it has shown so far, its use case is also quite strong. Render decentralized GPU network continues to revolutionize rendering.

As more people adopt Render for what it can do, the intrinsic value of Render will go up over time. That’s because Render tokens are used for payments on the Render network. This means the more people adopt Render for GPU rendering, the more its value will continue to grow. Combined with the speculative value Render has gained so far, this aspect of Render could see its price hit new highs in the short to medium term.

This is sick 🤯

Visuals by Annibale Siconolfi rendered with decentralized GPUs on @rendernetwork pic.twitter.com/8s4aEjjJkm

— Solana (@solana) January 4, 2025

Render Getting a Boost from Bitcoin

Besides its internal dynamics, Render could get a boost from broader market price action. Bitcoin is showing signals of another leg up after little to no action over the Christmas holidays. However, in the first week of January 2025, Bitcoin has been pushing higher and is now close to the $100k mark.

If Bitcoin rallies through $100k, it could uplift the broader market as it would turn sentiment positive for 2025. This could cause high-potential altcoins like Render to push to new highs in the short to medium term.

Trump Taking Office: A Bullish Factor

A key factor that could see Bitcoin and top altcoins like Render rally soon is the Trump inauguration. Trump will be taking office in a few days, and the market has high expectations for him and his team. This is because Trump and those around him have promised a Bitcoin strategic reserve. The actualization of this reserve could pave the way for the market to rally to new highs, especially for high-value altcoins like Render.