In this Render Token (RNDR) price prediction for 2023, 2024-2030, we will analyze the price patterns of RNDR by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Render Token (RNDR) Current Market Status
What is Render Token (RNDR)
Render Token (RNDR) is an Ethereum token that powers Render Network, a protocol that enables distributed graphics processing. Render token (RNDR) will make the process of rendering and streaming intricate virtual works easier for all users. It will allow complex GPU-based render jobs to be distributed and processed on a peer-to-peer network, making the transactional process of rendering and streaming 3D environments, models, and objects much simpler for end-users.
Render Token 24H Technicals
(Source: TradingView)
Render Token (RNDR) Price Prediction 2023
Render Token (RNDR) ranks 55th on CoinMarketCap in terms of its market capitalization. The overview of the Render Token price prediction for 2023 is explained below with a daily time frame.
RNDR/USDT Cup and Handle Pattern (Source: TradingView)
In the above chart, Render Token (RNDR) laid out a cup and handle pattern. The cup and handle price pattern on a security’s price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a “u” and the handle has a slight downward drift. the cup and handle are considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. A Cup and handle are considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. A cup and handle is a technical indicator where the price movement of security resembles a cup followed by a downward trending price pattern. This drop or handle is meant to signal a buying opportunity to go long on security.
At the time of analysis, the price of Render Token (RNDR) was recorded at $4.57. If the pattern trend continues, then the price of RNDR might reach the resistance levels of $4.406, and $49.200. If the trend reverses, then the price of RNDR may fall to the support of $1.138, and $0.377.
Render Token (RNDR) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Render Token (RNDR) in 2023.
RNDR/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Render Token (RNDR) for 2023.
RNDR Resistance & Support Levels
Render Token (RNDR) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Render Token (RNDR) are shown in the chart below.
RNDR/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Render Token (RNDR) market in 2023.
Render Token (RNDR) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Render Token (RNDR) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
RNDR/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Render Token (RNDR).
Comparison of RNDR with BTC, ETH
Let us now compare the price movements of Render Token (RNDR) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs RNDR Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of RNDR is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of RNDR also increases or decreases respectively.
Render Token (RNDR) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Render Token (RNDR) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If Render Token (RNDR) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Render Token (RNDR) price prediction for 2023 is $8.003. Comparatively, if unfavorable sentiment is triggered, the bearish Render Token (RNDR) price prediction for 2023 is $1.858.
If the market momentum and investors’ sentiment positively elevate, then Render Token (RNDR) might hit $10. Furthermore, with future upgrades and advancements in the Render Token ecosystem, RNDR might surpass its current all-time high (ATH) of $8.76 and mark its new ATH.
This content was originally published by our partners at The News Crypto.