- Followed by the last six months, the RNDR crypto price has advanced by 27%.
- Render crypto is trading with 69.27% of its max supply.
Render, founded by Jules Urbach in 2016, utilizes blockchain for decentralized GPU rendering. Its native token, RNDR, facilitates a marketplace where users exchange GPU power for rendering tasks. Node Operators contribute idle GPUs, while Creators pay with RNDR tokens for rendering services on the platform.
The spot volume for the RNDR crypto has advanced by 51.50% in the last 24 hours, resulting in $81.574M. It is followed up by a market cap of $1.183B. The market cap has declined by 6.13% in the last 24 hours. The Render crypto has a volume/market cap ratio of 6.32%
The RNDR token made an all-time high on Nov 21, 2021, and the price has been consistently declining since then. The all-time low price of the RNDR crypto is $0.0366. This coin is trading 8,590% above its all-time low price. The market cap rank of the coin as per Coingecko is #52.
RNDR Token Overview
The token transfer of the Render has consistently advanced with time. The transfer amount of the RNDR crypto has advanced from 3.085M RNDR to 22.748M RNDR in recent times.
RNDR Technical Analysis
The RNDR crypto price has broken above the last swing high and is currently taking support at the breakout levels. If the price manages to sustain at the higher levels and breaks above the level of the last swing high, the price can move to further higher levels.
RNDR/USD Chart by TradingView.com
The RNDR crypto charts are showing a bullish signal from the EMAs. 20, 50, and 200-day EMAs have formed a golden cross, indicating a positive trend.
The RNDR daily chart is displaying a bullish signal from the MACD. The MACD line and the signal line are above the 0 level, creating green volume bars. However, the lines seem to be too far apart, suggesting a possible retracement. If the trend continues, the price could reach new highs.
Conclusion
The RNDR coin has recently broken above a resistance level and previous swing high and is trading in a bullish trend. The EMAs and the MACD are also showing positive signals. The coin price has the potential to reach new highs in the future, as it benefits from the growing demand for rendering services.
Technical Levels
- Support levels: $1.90 and $2.60
- Resistance levels: $3.70 and $4.025
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.