The bid price rose 3.55% on April 9 as a W pattern developed across the daily chart, with the Supertrend turning green and the MACD histogram turning positive for the first time in months. The $2,646 resistance is considered a pattern confirmation trigger and immediate target for a bullish case.
summary
- The bid price is trading at $2.071 on April 9, up 3.55% during the session, as a W pattern develops across the daily chart with lows in September 2025 and February 2026.
- The daily Supertrend line (10,3) turned green at $1.631, and the MACD histogram registered a positive number at 0.077, confirming the early bullish momentum behind the move.
- The immediate upside target is the resistance level at $2,646. With a daily close below $1,631, Supertrend support invalidates the recovery thesis and risks a return to February lows near $1.20.
makes (makes) The price is trading at $2.071 on April 9, up 3.55% during the session, as a W pattern is forming on the daily chart after a seven-month decline from 2025 highs above $3.50. The currency made two distinct bottoms, the first in September 2025 and the second in February 2026, and is now heading towards the $2,646 resistance level that capped the recovery attempt in January. The daily Supertrend indicator turned green and the MACD histogram turned positive for the first time in months, supporting the case for an early recovery.
The daily chart shows a W pattern formation defined by two successive lows separated by a short temporary high. The first bottom appeared in September 2025 during a massive sell-off in the AI token sector, and the second developed during February and March 2026 after the price failed to break the $2,646 resistance ceiling. The price is now rising from the second bottom with improved momentum, but confirmation of the pattern requires a sustained daily close above $2,646.
The Supertrend (10,3) indicator turned green at $1.631, recording its first bullish reading after a long bearish period. The MACD (12,26,9) indicator supports the shift: the MACD line is at 0.023, the signal is at 0.100, and the histogram prints 0.077 positive. Expanding positive chart bars confirm that buying pressure is increasing, even with the MACD line not yet crossing above the signal.
Wintermute, a leading algorithmic market maker, noted in a recent market intelligence update that AI stocks were to withdraw Liquidity from crypto-native AI tokens, a dynamic that contributed to RENDER falling from a March high of $3.17 before the current base began to take shape.
Key levels: support, resistance and price targets
The $2,646 level is the immediate resistance level and W pattern confirmation trigger. A confirmed daily close above it would open an extended bullish case towards $3.00, which is the closest psychological level on the daily chart. If momentum accelerates from there, the March 2026 high near $3.17 represents the next reference point.
On the downside, the supertrend at $1,631 is the key support to watch. A daily close below this level returns the indicator to red and invalidates the recovery hypothesis. The February 2026 lows near $1.20 represent the last structural demand area before the W pattern collapses completely.
Invalidation: Daily close below $1,631.
Market data context and chain
Render connects GPU providers with users who need computing power for AI inference and 3D rendering, giving code direct exposure to the emotions of the AI sector. makes rose 40% to $3.17 on March 11, as AI token sentiment rebounded briefly before sector-wide selling resumed. Daily trading volume on April 9 reached 3.24 million RENDER tokens, reflecting continued engagement as the price rises from the second bottom of the W pattern.
according to Quinglass According to the data, funding rates in perpetual RENDER contracts turned from negative to neutral as the price recovered from the February base, consistent with the beginning of a decline in short-side pressure and a healthier basis for a sustained move.
If RENDER holds $1,631 on a daily close basis and volume supports the advance, a test of the $2,646 W pattern trigger becomes the near-term base case, with $3.00 the next level to watch on a confirmed breakout.
