Render

2024

<p><a href="https://captainaltcoin.com/render-token-rndr-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Render (RNDR)</a> has been on a tear lately, with its price pumping 25% today to hit a new all-time high of $13.59. At the time of writing, RNDR is hovering around $13.39. This surge comes amid a broader rally in AI-related cryptocurrencies, fueled by the growing excitement surrounding artificial intelligence (AI) and its potential applications.</p>
<p>The current price action in RNDR can be attributed to a few key factors. Firstly, the highly anticipated NVIDIA GTC 2024 Conference is just days away, and this event has historically been a catalyst for AI-related projects and cryptocurrencies. As a decentralized GPU rendering network, Render is positioning itself as a key player in the AI space, particularly in the realm of training large language models and other AI systems that require significant computational power.</p>
<p>From a technical analysis perspective, RNDR’s price has been trending in an ascending channel since September of the previous year. Earlier this month, however, the price broke out of this channel, signaling the start of a potential “discovery mode” where new all-time highs are being set regularly. This breakout is a bullish signal for traders and investors.</p>
<p>A closer look at the RNDR/USDT chart reveals some key technical indicators. The 200-day moving average currently stands at $3.9, which is significantly lower than the current price, indicating strong upward momentum.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="564" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-1024x564.png" alt="" class="wp-image-454383" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-1024x564.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-300x165.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-768x423.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-1536x846.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-2048x1128.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-272x150.png 272w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-100x55.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-635x350.png 635w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757-788x434.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-757.png 1365w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The Relative Strength Index (RSI) is around 70, suggesting that <strong>RNDR may be overbought in the short term</strong>, but this could also be a sign of a strong uptrend. Additionally, the MACD line is above the MACD signal line, further confirming the bullish trend.</p>
<p>Looking ahead, technical analysts are eyeing the next major price target of $16.27, which aligns with the 2.618 Fibonacci extension level. On the support side, $8.86 is considered a strong level, coinciding with the 0.786 Fibonacci retracement level.</p>
<p>In conclusion, the surge in Render’s price can be attributed to a combination of factors, including the AI narrative, the upcoming NVIDIA GTC event, and favorable technical indicators. While some indicators suggest potential overbought conditions, the overall trend remains bullish, and RNDR appears poised for further gains, especially if the AI hype continues to build momentum.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/render-rndr-price-breaks-all-time-high-amid-ai-frenzy-but-theres-a-catch/" rel="noopener noreferrer nofollow">Render (RNDR) Price Breaks All-Time High Amid AI Frenzy, but There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Render (RNDR) Price Breaks All-Time High Amid AI Frenzy, but There’s a Catch

Table of Contents

CaptainAltcoin

Other articles published on Mar 17, 2024

SUI Price In Consolidation Mode, Is a Possible Correction Ahead?

Cryptocurrency Advocate John Deaton Enters Massachusetts Senate Race Against Senator Elizabeth Wa...

Exclusive: Top 5 Altcoins to Watch Before the Next Cryptocurrency Boom!

3 Tokens Set To Skyrocket By Over 500% In The Coming Months: Bonk (BONK), Dogecoin (DOGE), Retik ...

Bitcoin: All about its latest ‘high’ as BTC falls below $67K

Unlock the Door to Crypto Riches: This Presale Is Where Fortunes Will Be Made in 2024

Join our free newsletter for daily crypto updates!