The Renzo price has soared 11% in the last 24 hours to trade at $0.02198

Renzo is EigenLayer's Liquid heavy-staking token (LRT) and strategy manager. The surge in the REZ price comes after Renzo Protocol announced that it will be expanding to the Base chain

The Renzo price has soared 11% in the last 24 hours to trade at $0.02198 as of 1:06 a.m. EST on an 11% plunge in trading volume to $117 million.

EigenLayer's Liquid heavy-staking token (LRT) and strategy manager,

The surge in the REZ price comes after Renzo Protocol announced that it will be expanding to the Base chain, which includes REZ’s listing on Coinbase.

Renzo Protocol is rapidly expanding to @base in an epic saga that has only begun.

Here’s a recap of the first chapter:🔵 REZ Spot on Coinbase

REZ Perps on Coinbase Advanced + International

REZ Bridge to Base

Native Restaking on Base

More to come🧵🔽 pic.twitter.com/Y9mlE7k0bw

— Renzo (@RenzoProtocol) March 21, 2025

The token also continues to attract attention from prominent crypto exchanges.

📢 New Listing

🚀 렌조(#REZ) 원화 마켓 추가 안내🚀 $REZ/KRW will be listed on #bithumb!

🔸 Details : https://t.co/euKWL5Vzgc #bithumb #REZ @RenzoProtocol pic.twitter.com/ozBuumUh2X

— Bithumb (@BithumbOfficial) April 1, 2025

Can REZ continue its uptrend?

The REZ price on the 4-hour timeframe has confirmed a falling wedge breakout, a strong bullish reversal pattern. The Renzo price had been in a downtrend, forming a series of lower highs and lower lows within the wedge.

However, REZ has now broken out of the wedge’s upper resistance, signaling a shift in momentum from bearish to bullish.

The price of REZ has moved above the 50 Simple Moving Average (SMA) on the 4-hour chart ($0.01835) and the 200 SMA ($0.02047), which now serve as support levels, according to GeckoTerminal data.

Moreover, the Relative Strength Index (RSI) is at 64.78, indicating strong buying pressure. However, it is approaching overbought levels (above 70), which suggests that a short-term pullback or consolidation could occur before further upside.

Given the confirmed falling wedge breakout, the price of Renzo has a strong bullish outlook. The next key resistance zone lies between $0.02500 – $0.02700, which aligns with previous price highs.

If the price maintains momentum and stays above the 200 SMA, it could continue toward these higher targets.