- The RNDR crypto asset is expressing bullish behavior and has the opportunity to increase further.
- The oscillators demonstrate that the asset is exhibiting bullish performance, the RSI is not close to the 70 level and the MACD shows a bullish cross,
Render is basically a platform that functions blockchain technology to offer decentralized GPU-based rendering solutions. The Render Token (RNDR) allows users who need rendering jobs to pay those who provide GPU resources.
RNDR tokens enable a marketplace where GPU power is exchanged for digital content creation. In this context, RNDR isn’t just a payment method, it’s also a metric of the computational work required to produce digital renders, thereby helping to determine the value of rendering work on the Render Network.
To utilize the Render Network, the user need RNDR tokens, which can be obtained on numerous cryptocurrency exchanges. Once you’ve obtained RNDR tokens in your wallet, they can be used within the Render ecosystem.
If the user has idle GPUs, they can register as a “Node Operator” on the Render Network, where your GPU’s power can be used to finish rendering tasks in exchange for RNDR tokens. The user can simply connect to their GPUs to the Render Network and start accepting jobs.
On the other hand, if someone is a “Creator” who needs rendering work, they can submit their projects to the Render Network.
Let’s Nosedive Into Render Crypto 1-D Chart And Examine Upcoming Outlook
The Render crypto has shown a sign of a comeback as the price recovered from a key level of around $4 on the charts.
The RNDR crypto asset is expressing bullish behavior and has the opportunity to increase further. It has attained good performance in the last week, month, and three months, by 20.47%, 52.48%, and 240.04% respectively, implying a stable upward direction.
At the press time, the RNDR crypto is experiencing the latest decline of 3.13% in the last 24 hours, trading at $5.014.
The Render crypto seems like it is ready for another continuation of sensational surge, as it could unleash its potential to topple the resistance level and soar to new zeniths from the current base zone.
Furthermore, if the demand for the RNDR remains at its peak, the asset price could bounce back from the current level. The next important goal for the RNDR price could be is to reach $6 and above.
On the flip side, if the RNDR crypto price fails to stay above the $4 level, it could decline further.
As per the technical trend highlighting tools, the asset is bullish and consists more room to rise as it is above major EMAs.
Moreover, the oscillators demonstrate that the asset is exhibiting bullish performance and the RSI is not close to the 70 level and MACD shows a bullish cross, meaning that the asset is not facing significant selling pressure yet and can continue to rise
Summary
The Render crypto has shown a sign of comeback as the price recovered from a key level of around $4 on the chart. Furthermore, if the demand for the RNDR remains at peak, the asset price could bounce back from the current level. The next important goal for the RNDR price could be is to reach $6 and above.
Technical Levels
Support Levels: $4
Resistance Levels: $6
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.