Render (RNDR) has seen a remarkable 1,100% increase in its price since January 2023, reaching a new yearly high of $4.87.

The RNDR price surge has overcome a key horizontal resistance, leaving only one more hurdle before achieving an all-time high.

The cryptocurrency's weekly Relative Strength Index (RSI) indicates a strong bullish trend without any signs of bearish divergence.

Elliott Wave theory suggests RNDR may be in the third wave of an upward movement, with a potential target price of $5.65.