Render (RENDER) is up 7% at press time on Tuesday, extending a four-day rally with over 25% gains so far. A surge in wallet- and leverage-driven trading activity bolsters the rally, reflecting increased retail demand for the AI token. Render should secure a daily close above $2.40 to confirm the bullish breakout of a rising channel pattern.
Bitcoin has stabilised around 77k after two weeks of correction, which saw the largest cryptocurrency fall by more than 6%.
BTC fell from a peak of 83k in early May to 74k on Saturday, then recovered to around 77k at the time of writing. The recovery was aided by optimism over a possible U.S.-Iran peace deal and signs of growing institutional adoption of cryptocurrency derivatives. However, renewed geopolitical uncertainty, Treasury repositioning, and ETF outflows are limiting the upside.
The crypto market remains stagnant, stuck at $2.57T and hovering around the 50-day moving average, awaiting further signals. The crypto market’s overall sideways movement looks like a juggling act for mid-tier altcoins: one after another takes the lead. Among the most popular coins over the last 24 hours are NEAR Protocol (+14%), The Graph (+5.6%) and Toncoin (+4.5%). The underperformers were Zcash (-5.9%), Dash (-4.1%) and Uniswap (-3.1%).