Render Maintains Above $2 – Will Bulls Experience Another Shakeout?

Render [RENDER] began 2026 on a strong note, with an impressive price surge of 85% during the first week of January, outpacing others in its sector like Chainlink [LINK] and Bittensor [TAO]. However, despite this initial success, the asset has faced challenges, including a nearly 30% decline in Open Interest. Recent analyses indicate that while some indicators appear promising, unresolved long-term downtrends may pose risks. Traders may want to consider waiting for potential dips before making purchases.

Key Takeaways

Render surged 85% in early January 2026 but subsequently faced a decline in Open Interest.
The price settled back to a key demand zone after a breakout above $2.
Comparison with another AI token, FET, shows Render's on-chain metrics lag behind.
Current indicators suggest that while there are positive signs, bulls remain in a fragile position.
Traders may benefit from waiting for price corrections before buying Render tokens.

Render’s Rally Sparked Hope, Now a Liquidity Sweep Could Decide the Next Move

Overview of Render's Performance

Render began the new year with remarkable growth, achieving an 85% increase in the first week of January 2026. This impressive performance overshadowed competitors in the artificial intelligence sector, including Chainlink [LINK] and Bittensor [TAO]. However, data from Coinalyze reveals that Open Interest has since decreased by nearly 30%. Although breaking the psychological barrier of $2 was a positive development, the price has reverted to a significant demand zone.

A recent report by AMBCrypto analyzed Render's on-chain metrics in comparison to another AI token, Artificial Superintelligence Alliance [FET], highlighting that Render's metrics do not favorably compare to those of FET. Additionally, the long-term downtrend in Render's price chart continues to be a concern.

Can RENDER Bulls Reverse the Trend?

Render 1-day Chart

Source: RENDER/USDT on TradingView

Positive indicators suggest that there may still be hope for Render. The On-Balance Volume (OBV) achieved a new high when RENDER hit $2.71 two weeks ago, demonstrating strong buyer activity in the market. Furthermore, the daily Relative Strength Index (RSI) has remained above the neutral mark of 50, indicating that upward momentum has not been entirely compromised by recent pullbacks.

While these indicators appear encouraging, they also highlight the precarious situation for bulls. During the recent rally, the swing high of $2.94 from November was not surpassed, confirming that the long-term downtrend remains intact.

Why Traders Should Consider Waiting for a Dip

Render Liquidation Map

Source: CoinGlass

The liquidation map indicates that the existing short liquidation leverage in the vicinity could potentially drive prices lower. Notably, the range of $1.86 to $1.88 could serve as a crucial short-term liquidity target that Render's prices may gravitate toward. This area intersects with the higher timeframe former supply zone from November, which extends from $1.68 to $1.86.

As such, traders might opt to wait for this zone to be reached before deciding to purchase Render tokens. Conversely, the cumulative long liquidation leverage above $2.15 could create upward momentum for prices after a potential dip toward $1.80.

Final Thoughts

Disclaimer: The information provided does not constitute financial, investment, trading, or other advice and represents solely the author's opinions.