RENDER jumps 17% to 5-month high as AI demand boosts volume
RENDER rallied 17.06% to around $2.35, reaching a five-month high near $2.403 before a pullback. The move was driven by strengthening AI infrastructure demand, with trading volume up 294% to roughly $245M.
On-chain usage also improved. Active addresses rose to 394 and new wallet creation hit 118, both 12-week highs. Derivatives activity followed: CoinGlass data showed open interest up 62.7% to $125.2M and derivatives volume up 166% to $364M, indicating fresh leveraged positioning.
Market structure turned bullish in futures. The Long/Short Ratio climbed to 1.8 (about 64% longs), and momentum signals stayed supportive (RSI at 74; Momentum Index at 0.5). However, profit-taking risk is rising: MVRV Long/Short Difference fell to -40% (monthly low), while spot netflow remained positive but with higher outflows.
For traders, the near-term decision zone is around current resistance. If RENDER maintains momentum, it could target ~$2.7 and then ~$3. Rejection near current levels raises the risk of a drop toward ~$1.8.
Bullish
RENDER’s rally is backed by both demand signals (AI infrastructure narrative) and market participation (surging spot volume, higher active addresses and new wallets, and a sharp rise in derivatives open interest/volume). Futures positioning also shifted clearly bullish (Long/Short Ratio > 1 and majority longs). While overbought momentum and weakening MVRV profitability metrics raise pullback risk, the overall flow and positioning suggest buyers still control the near-term trend unless price rejects around resistance.