Market Recovers, boosting Steady's price above $3.60, establishing a bullish outlook.
The cryptocurrency market has seen a significant rebound following a sharp drop at the start of August, with consistent higher highs and higher lows characterizing the recovery. This uptrend has been accompanied by a slight increase in trading volume, signalling fresh capital moving into the market.
As a result, the total cryptocurrency market cap has risen from $1.73 billion on August 3 to just over $2 billion by August 8. This wider recovery has added momentum to coins like Render (RNDR), a decentralized computing and AI-integration project.
Render recently experienced a breakout from a falling wedge pattern, a typically bullish technical formation, but has faced short-term volatility with a recent 5.4% price drop amid broader crypto market fluctuations and network migration events. Despite this, RNDR maintains a market cap near $2 billion and shows resilience with roughly 1–5% weekly gains despite daily pullbacks.
Key Support Levels and Resistance
RNDR has tested critical support near $3.65–$3.91 but avoided deeper declines thanks to fractal support and growing bullish signals if it holds above resistance at $4.00–$4.26. Breaking key swing highs could invalidate bearish trends and drive upward momentum.
Recent Price Action
After a 34% drop in June and a retest of supports mid-August, RNDR gained about 5% over the past week but saw a 5.4% dip in the last 24 hours (as of August 18, 2025). Its price fluctuated between $3.65 and $4.13 recently, reflecting volatility amid market corrections.
Market Context
Render is influenced by broader crypto recovery movements, including BTC and ETH gains, which support positive momentum for decentralized computing and AI-integration projects like RNDR. Its migration from Polygon’s legacy network to an upgraded chain enhances security, albeit causing short-term disruptions.
Fundamentals & Sector Outlook
RNDR leads in decentralized GPU computing for AI/3D rendering with competition in the DePIN (Decentralized Physical Infrastructure Networks) sector. Its unique role linking GPU power providers with users adds value amid rising AI and gaming demands. Developer activity and sustained trading volumes (~$100M+ daily) underpin mid-cap growth potential.
Outlook
In summary, RNDR has recently broken out from a falling wedge, a typically bullish technical formation, but faces immediate resistance and volatility amid a cautious crypto market environment. Its fundamentals and sector positioning remain strong, with stable support levels and possible upside if broader crypto recovery continues. Traders should watch $3.65 support and $4.00+ resistance to assess the next moves relative to the overall crypto market trajectory. A break below $3.60 for RENDER may open the way back to $3.20.
- The total market cap of cryptocurrencies, including tokens like Render (RNDR), has risen significantly following a rebound in the market, reaching over $2 billion by August 8.
- Amid the wider recovery, Render, a decentralized computing and AI-integration project, has shown resilience with about 1–5% weekly gains even amid daily pullbacks.
- The technical outlook for RNDR is positive, with a breakout from a falling wedge pattern, but short-term volatility and immediate resistance must be considered in the current cautious crypto market environment.
