Render's (CRYPTO:RNDR) price struggles below $11 but investor enthusiasm suggests a bullish trajectory could propel the cryptocurrency to new 2024 highs.

Despite facing resistance at $11.24, Render sees a significant withdrawal from exchanges, with investors purchasing over $21.8 million worth of RNDR, indicating strong bullish sentiment.

A decrease in active deposits to a two-month low reveals diminishing selling pressure, setting the stage for Render's potential price increase.

For Render to reach unprecedented heights in 2024, it must overcome resistance at $11.24 and $12.58, turning these into supports for further gains.

Failure to break through these resistance levels could reverse Render's bullish momentum, risking a decline to $10.2 and possibly down to $8, challenging the optimistic outlook.