Render (RNDR) has made a bold move after 4 months and has reached above the $2 level once again. This price appreciation comes in the wake of RNDR on-chain activities blowing up. The daily active addresses rose to 394 in a single day with 118 new wallets created, both reaching their highest levels in 12 weeks.
Render wallets hits new high within last 3 months
Render has shown impressive improvements in the past. The active addresses and the new wallet creations have surged drastically, and this has boosted the prices to reach above the $2 price level after more than four months. The active addresses hit 394 in a single day, and the newly created wallets hit 118, and both hit their highest marks in 12 weeks.
A rise in active addresses suggests that more users are interacting with the network, whether by sending, receiving, or using the token, which reflects stronger participation in the ecosystem. At the same time, the increase in new wallet creation shows that fresh users are entering the network, pointing toward growing interest and potential adoption.
This combination is often interpreted as a positive signal because it shows that activity is not only coming from existing users but also from new participants joining in. In many cases, rising on-chain activity like this can support stronger market momentum if it continues over time, as it reflects real usage rather than purely speculative trading.
However, traders usually wait for confirmation from price action and sustained volume before concluding whether this increase in activity will translate into a longer-term bullish trend.
RNDR crossed major resistance level at $2
The spike in on-chain activities has seeped into the RNDR prices, and the token has crossed above the psychological resistance level of $2. Technically, the token broke out from an ascending triangle, which has a rising bottom and a flat top.
An ascending triangle is a bullish chart pattern that forms when the price creates a flat resistance level at the top while the lows gradually rise, forming a series of higher bottoms. This structure shows that buyers are becoming increasingly aggressive, while sellers continue to defend the same price zone without pushing it lower. As the pattern develops, it reflects a buildup of pressure in the market, where demand is slowly strengthening against a fixed supply level.
From a trader’s perspective, sellers repeatedly try to push the price down from the resistance level, but each time buyers step in at higher prices, showing growing confidence. This results in weakening bearish pressure over time.
Meanwhile, bullish traders often continue accumulating positions as higher lows form, expecting a breakout above resistance. Breakout traders usually wait for confirmation, such as a strong move above the flat top often supported by increased volume, before entering positions.
RNDR could reach $3 if the breakout fully materializes
Once the breakout happens, the price should rise by the height of the wedge, assuming the breakout is conventional. However, the breakout has just happened, and there is more room for RNDR prices to move higher. Given that there is a fully fledged breakout, there is a high chance that the prices could reach above $2.80.