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Render Token (RNDR) price is up 5% in 24 hours and is trading at $1.84 today, according to CoinMarketCap data. Still, the asset enjoyed a positive start to the year with a slight dip.
The price increased from $0.422856 on January 7 to $0.548392 on January 13. It crossed the $1 mark, and was trading at $1.153368 on January 29. The price is close to the $2 level; However, the bears may push the price down, or it may continue the upward trend.
So what is the Render Token price prediction in the coming days? Will further network expansion push it higher?
Provide symbolic developmental steps
Render is a platform It is built for artists on the Ethereum blockchain. With the NFT and Web3 sectors on the rise, it’s easy to see why they are currently enjoying more interest.
Here are some of the latest developments on the net.
The vote on burning mint is closed
The Burn Mint Equilibrium vote for members of the Render community has ended. This model seeks to maintain a balance between burnt tokens and minted tokens on the network. Tokens submitted for services are burned once the service is complete to maintain this balance.
Since the offer token network is based on the community, a vote decided whether Burn Mint Equilibrium (BME) would run on the Render network. Community projects sometimes positively affect the price of an asset, causing it to surge.
The show code creators make the tutorials
Top Render Token creators have posted videos on the popular video-sharing platform YouTube letting users know how it works. David Brodeur, the creator of the network, has stated that he has stopped upgrading the GPUs on his devices in favor of Render Token. Octane Render legend Raphael Rao also shared his thoughts on the rendering engine that powers the Render code.
David Brodeur aka @employeeCreate images for iconic brands like Gucci, BMW, Skrillex, etc.
in full force #RNDR tutorial, he admits:
“I have stopped upgrading the GPUs on my devices and now rely on Network Render.” (paraphrased quote) https://t.co/vpUfLtKEax
– Introducing the network | Render (RenderToken) February 3, 2023
Interest from top creators and efforts to educate other community members can indirectly affect the price. In addition, cryptocurrency prices are sometimes affected by news, events, and the developmental steps of a particular project.
The Legend of Octane Render, Raphael Rao (@employee) The tutorial went in more depth into the rendering engine behind Grid Render.
His theoretical video breaks down the caustic rendering and highlights a great deal of #octane Photon Tracker 2022 https://t.co/1KbOcsawWg
– Introducing the network | Render (RenderToken) February 3, 2023
Token Price Prediction: Will it reach the $2 mark or further declines in the future?
The Render Token is currently trading in an uptrend. The bullish trend started on Thursday, January 19th, and despite some red days, the asset continued its upward movement. Yesterday’s opening price was $1.67, while the closing price was $1.77, with a price increase of 5.85%. However, the bears moved quickly today to slow the mounting pressure from the bulls.
The vital support levels are $1.42, $1.52, and $1.70; The resistance levels are at $1.88, $1.99, and $2.11. Render Token is trading above 50 and 200 days Simple moving average. It indicates that the short- and long-term sentiment of the asset is bullish.
The 50-day SMA has formed a golden cross that has risen above the 200-day SMA on the price chart, which is a bullish sign. The upward trend has continued for the past 19 days, from January 19 to February 6, 2023.
the Relative Strength Index (RSI) It is currently at 85.32 in the overbought area. It confirms that the bulls are still in control of the market. Also, more traders place buy orders in the market which leads to overbought. Moving average convergence/divergence above its signal line and pointing upwards, indicating the potential for another increase.
The technical indicators on the chart are bullish, as the Render symbol may breach resistance levels. If the Render Token rises past the $1.88 resistance and the bulls hold onto their gains, it is likely to cross $2 in the coming days. However, crypto assets are volatile and can deviate from price expectations. Therefore, careful analysis and balanced understanding of the risks involved is vital before investing.
These projects will go up to the moon
The symbol is doing well on the price charts. However, here are some altcoin projects that are worth your investment.
C + Charge (CCHG)
Much effort is devoted to preserving the earth and reducing carbon emissions. C + Charge aims to use blockchain technology to provide safer environments by creating a payment platform for electric vehicle (EV) owners. These owners will receive carbon credits as rewards for shipping. the CCHG The token is currently on Presale and has raised over $370,000.
Fight Out (FGHT)
It is an innovative earning platform that promotes fitness among its users. Users are rewarded based on physical activities. The pre-sale grossed over $3.2 million. FGHTThe original token that powers the platform is currently worth $0.033 and will increase in value at the end of the pre-sale.
Meta Master Guild (MEMAG)
There are a lot of positive comments about this gaming project. The Meta Masters Guild brings the latest innovations to Web3 gaming in the Metaverse. Meta Kart Racers, Raid NFT and Meta Masters World are new games that are set to be released on the network.
mimag, the original code, is worth $0.019 and powers the gaming system. The pre-show raised over $2.63 million. Join the Meta Master revolution today.
Fight Out (FGHT) – the latest money-making project
- CertiK is audited and CoinSniper KYC verified
- The early stage pre-sale is now live
- Earn free crypto and learn about your fitness goals
- LBank Labs project
- Partnership with Transac Block Media
- Staking bonuses and rewards
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