Posted: December 22, 2024

• Render rebounded 29% in just 48 hours, after a steep 40% drop over the last week.
• The altcoin’s surge in trading volume and rising whale activity signal bullish momentum for Render, with $8.13 emerging as a key target level.

 Render [RNDR] has been among the Solana ecosystem’s top gainers. The altcoin has surged by over 10%, trading at $7.43, at press time. According to CoinMarketCap data, Render’s trading volume and market cap have also seen significant increases.

Notably, the coin’s trading volume skyrocketed by 43%, reaching $1.26 billion in just one day.

A volatile week leads to a strong comeback

Despite its recent rally, Render had a tough week. Its price plunged by nearly 40%—the deepest drop since its breakout from a symmetrical triangle consolidation. This decline shook market confidence, but the altcoin has managed a remarkable recovery.

In the last 48 hours, it has erased its losses and surged by 29%. This fast rebound solidifies RNDR’s position as one of the top performers in the Solana ecosystem.

Render whale capitalizes on the dip

On-chain metrics also point toward a bullish outlook for the coin. According to data from IntoTheBlock, large transactions are up 10%, indicating a surging whale activity on the altcoin.

In most cases, surges in whale activity correlate with strong price action, further supporting the potential for Render to continue higher.

Liquidation heatmap leans to the bulls

Additionally, the liquidity heatmap data shows a bullish bias. According to the heatmap, there is a massive pool of liquidity, with about 310k worth of Render to be liquidated at the $8.13 price level.

This pool could act like a magnet for price action and serve as an effective target for the bulls.

What next for Render?

A combination of technical and on-chain metrics sends an encouraging picture for Render. While last week’s dip tested its resilience, the altcoin has strongly bounced back, reclaiming investor confidence in a short span.

Read Render’s [RNDR] Price Prediction 2024–2025  

Its current price momentum, coupled with rising trading volume and whale activity, suggests that the coin could sustain its upward trajectory in the near term.