- The price of the RNDR crypto is trading above crucial EMAs.
- Render Token price has increased by 320% in the last 1 year.
Render leverages blockchain for decentralized GPU-based rendering. Founded in 2016 by Jules Urbach of OTOY, its RNDR token facilitates a marketplace for trading GPU power for digital content creation.
Node Operators earn RNDR tokens by rendering tasks, while Creators use them to pay for rendering services.
The market cap of the RNDR crypto has been trading flat over the last 24 hours since press time. Also, the market cap ranking of the crypto is #27 as per CoinMarketCap.
The trading volume of the crypto has also declined by 29% over the last 24 hours, resulting in a traded value of $257.55M. Moreover, the volume/market cap ratio of crypto is 6.61%, which shows good liquidity in crypto.
Render Crypto Derivatives Data Overview
The long/short ratio of the Render crypto is 0.943,3, and the long liquidation recorded for the crypto is much higher, resulting in $167.93K.
The derivatives trading volume of the crypto has declined by 29.6%, resulting in a traded value of $284.49M. The open interest of the crypto further advanced by 2.95%.
The derivatives volume chart of the crypto further shows an advance, followed by the last few days.
RNDR Crypto Technical Analysis
The Render token (RNDR) price can be seen trading in an uptrend followed by a breakout above the descending triangle pattern.
The RNDR crypto price has advanced by 25% since the breakout. It was trading at higher levels and witnessing some profit booking, which can also be assumed as a retracement in the price.
RNDR/USD Chart by TradingView
The 50-day and the 200-day EMAs were trading in a golden cross, followed by the price of the crypto trading above the following EMAs. While trading between the 50-day and the 200-day EMA, the trading price of the RNDR crypto formed a double bottom and then advanced to higher levels.
The MACD and the signal line overlap, while both the metrics traded in positive territory.
The RSI followed a bullish cycle on the daily chart and was sustained above the 50-level. It showed the rising momentum in the crypto price.
Summary
Render Token (RNDR) has surged 320% in the past year, trading above crucial EMAs. Despite recent profit booking by whales, RNDR remained bullish, supported by a 25% rise post-breakout from a descending triangle.
Indicators like a golden cross, positive MACD, and bullish RSI suggest upward momentum.
The most immediate swing lows of the RNDR crypto are at the swing lows of $5.60 and $7.0, followed by the resistance levels of the crypto at $13.50 and $15.0.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
