The Render Token (RNDR) price has increased over the past six days, reclaiming a crucial horizontal support area in the process.
Due to this movement, the previous breakdown is considered invalid. So, it is likely that bulls are in control, and a sharp trend will transpire soon.
Render Token Price Reclaims Key Level After Deviation
The RNDR price has increased since the beginning of the year. On April 28, it reached a new yearly high of $2.41. This seemingly caused a breakout above the $2.10 horizontal resistance area and took the price to the $3.10 resistance area.
However, the price failed to sustain the increase, falling below the $2.10 area shortly afterward. At the time, this seemed like a deviation above the resistance.
This is considered a bearish sign that often leads to sharp downward movements since the bulls did not sustain the price increase.
However, RNDR reversed its bearish trend on May 12 and reclaimed the $2.10…
