Render

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Strong

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<p>Popular <a href="https://coingape.com/markets/4-ai-based-altcoins-outpacing-bitcoin-ethereum-xrp-in-2024/" target="_blank" rel="noopener">AI coin</a> Render Token (RNDR) is once again in the news amid a strong 40% price rally over the last week. Currently, the Render (RNDR) price is trading just under $10 with its market cap reaching closer to $4 billion.</p> 
<h3 id="render-whales-in-strong-accumulation-mode">Render Whales In Strong Accumulation Mode</h3> 
<p>On-chain data provider LookonChain reported that the recent <a href="https://coingape.com/ai-protocol-render-rndr-soars-15-as-bitcoin-fights-for-balance/" target="_blank" rel="noopener">Render (RNDR) price rally</a> comes on the backdrop of strong whale activity and accumulation. According to on-chain data provided by Lookonchain, notable transactions involving the cryptocurrency $RNDR have been observed recently. On April 30 and May 1, user 0x15CF withdrew a substantial amount of $RNDR, totaling 748,898 tokens valued at $5.3 million, from the Binance exchange.</p> 
<p>This withdrawal has resulted in a floating profit of $2.24 million for the user, who has a history of successful trades with $RNDR. Similarly, user 0x1Cb7, who has previously profited $480,000 from $RNDR trades, withdrew 364,586 tokens valued at $3.68 million from exchanges over the past five days, with an average buying price of $9.19 per token. Additionally, users 0xCA9C and 0xE61A withdrew 181,922 tokens ($1.81 million) and 58,950 tokens ($586,000), respectively, from Binance in recent day, per <a rel="nofollow" href="https://etherscan.io/token/0x6de037ef9ad2725eb40118bb1702ebb27e4aeb24?a=0xe61a06453ab4e1aa6afa3883da89b764a1f57f0e" target="_blank">data</a> on Etherscan.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">1/ The price of <a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RNDR</a> has increased by 40% in the past week!</p> 
 <p>Let’s check if any whales and smart money are accumulating <a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RNDR</a>! <a href="https://t.co/NAVHcJO55n">pic.twitter.com/NAVHcJO55n</a></p> 
 <p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1788152797499912425?ref_src=twsrc%5Etfw">May 8, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>According to on-chain data provided by Santiment, there is a notable surge in discussions surrounding artificial intelligence (AI) and big data within the cryptocurrency space. Projects associated with these expanding industries are experiencing significant growth, with $RNDR token witnessing an 11% increase in interest and becoming the top trending asset at present.</p> 
<figure id="attachment_195841" aria-describedby="caption-attachment-195841" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-195841" src="https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin.jpeg" alt="" width="2680" height="1759" srcset="https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin.jpeg 2680w, https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin-300x197.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin-1224x803.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin-768x504.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin-1536x1008.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin-2048x1344.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/05/Render-RNDR-AI-Coin-150x98.jpeg 150w" sizes="(max-width: 2680px) 100vw, 2680px">
 <figcaption id="caption-attachment-195841" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://twitter.com/santimentfeed/status/1787924218593820835" target="_blank">Santiment</a>
 </figcaption>
</figure> 
<h3 id="rndr-price-action-ahead">RNDR Price Action Ahead</h3> 
<p>Apart from its 40% gains over the last week, the Render price witnessed a strong rally in Q1 2024 hitting its all-time high in March. Amid the hype about AI coins, the RNDR token surged by 285% hitting an all-time high of $13.840.</p> 
<p>The RNDR price has formed a symmetrical triangle pattern on the 1D timeframe, suggesting an imminent breakout. The Relative Strength Index (RSI) has surged, indicating increased buying activity in the cryptocurrency market.</p> 
<p><img decoding="async" class="aligncenter size-full wp-image-195845" src="https://coingape.com/wp-content/uploads/2024/05/RNDRUSDT.png" alt="" width="1024" height="539" srcset="https://coingape.com/wp-content/uploads/2024/05/RNDRUSDT.png 1024w, https://coingape.com/wp-content/uploads/2024/05/RNDRUSDT-300x158.png 300w, https://coingape.com/wp-content/uploads/2024/05/RNDRUSDT-768x404.png 768w, https://coingape.com/wp-content/uploads/2024/05/RNDRUSDT-150x79.png 150w" sizes="(max-width: 1024px) 100vw, 1024px"></p> 
<p>A breakout above the resistance trendline would signal continued bullish momentum, with the potential for the price to test the $11.325 resistance level. Sustaining this level could pave the way for RNDR to target its upper resistance level of $13.840 in the current month.</p> 
<p>On the flip side, a bearish trend reversal could lead to a loss of momentum, prompting RNDR to test its support level at $8.985.</p> 
<p>The post <a href="https://coingape.com/render-whales-triggered-the-40-rndr-price-rally-last-week-whats-next/">Render Whales Triggered The 40% RNDR Price Rally Last Week, What’s Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Render Whales Triggered The 40% RNDR Price Rally Last Week, What’s Next?

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