- The Render crypto price has given a huge return of 617.1% in the last one year.
- Render Network is a high-performance GPU rendering network.
Render is a decentralized platform that uses blockchain to provide GPU-based rendering solutions. The Render Token (RNDR) is the native cryptocurrency of the Render Network, where users can trade GPU power for digital content creation. Users can either offer their GPUs as Node Operators or request rendering work as Creators.
The RNDR coin has a market cap rank of #48 as per Coingecko and has a market cap dominance of 0.088%. The volume/market cap ratio of the crypto is 0.1256. The traded volume for the RNDR crypto in the last 24 hours is $185.939M.
RNDR cryptocurrency’s market cap has advanced by 3.5% in the last 24 hours, resulting in $1.404B. The max supply of the crypto is 536.87M RNDR following a circulating supply of 371.908M RNDR. A fully diluted market cap of the token is $2.026B.
RNDR Token Overview
The holder number of the render token has advanced by 0.117% resulting in 53K, followed by a total number of transfers of 621K. The transfer count of the token has also declined to 1860 resulting in 885 unique receivers.
Derivative Volume Analysis Of RNDR Crypto
In the last 24 hours, the derivative trading volume of the Render crypto has advanced by 152.54%. The derivative trading volume of the Render token has been witnessing consistent advance for the last few days indicating significant activity. It also has resulted in a huge short liquidation of $1.54M.
RNDR Crypto Technical Analysis
The RNDR crypto price is following an uptrend forming consistent higher high patterns on the weekly charts. It indicates a strong uptrend followed by the coin. The price of the crypto is currently taking resistance at the higher level witnessing a supply zone at the level of $4.00.Â
RNDR/USD Chart by writer11_gsmTradingView.com
The 50-day and the 200-day EMAs are trading in a golden crossover, indicating a strong bullish trend on the daily chart. The 20-day EMA is also advancing to higher levels and the price is taking support at the same.
The RSI of the Render token is trading above the overbought zones. It also has advanced above the 14-day SMA and is currently trading at a level of 70.15. It shows that the crypto price is following a bullish momentum and might lead to higher levels.
Conclusion
The RNDR coin price is trading in an uptrend following a strong gain in the price with the indicators giving a bullish signal. Thus, if the RNDR crypto price breaks above the level of $4.00, it might lead to much higher levels.
Technical Levels
- Support levels– $0.4100 and $1.320
- Resistance levels– $4.00 and $4.500
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.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.
