Analysts Predict Render Token May Surge To $50-$80

Recent changes in the Render token’s price demonstrate buying and selling activities with modest intraday volatility. RNDR price has surged 3.37%, trading at a price of $5.397 in the last 24 hours.

The price has been oscillating in a moderately volatile range of $5.179 to $5.438. Recent developments and technical indicators suggest potential market shifts, with a growing focus on the token’s future performance.

Technical Indicators Suggest a Neutral Market

The MACD line is now at -0.022 and the signal line at -0.036, both of which suggest a bearish tone. However, the lines are getting closer which means that bearish pressure may be decreasing potentially signaling a reversal in the near future.

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1-day RNDR trading chart: source TradingView

The RSI is currently at 48.48 reflecting a neutral outlook. A neutral level is a clear indication that neither buyers nor sellers have enough influence, thus suggesting a consolidating phase. A breakout may occur either upwards or downwards based on the price.

Analyst Predictions on Render’s Future Potential

Analyst Mrpatrickschmitt gives a favorable outlook on Render (RNDR) in the current cycle, stating that the token’s price could surge to $50-$80.

“Hitting the ATH in March at $13.53 in March shows the potential, especially with all the major partnerships like Apple,” he stated, estimating the token capability of hitting 10-50x potential in terms of its liquidity and relations to the industry.

As the majority of Altcoins $RENDER has a huge upside potential here to $50-$80 this cycle.

Hitting the ATH in March at $13.53 shows the potential, especially with all the major Partnerships like Apple etc.

A good 10-15X potential on a high liquid token. @rendernetwork #DePIN https://t.co/6OovoPC9ky

— mrpatrickschmitt (@mr_pschmitt) October 17, 2024

Another analyst MACHINE 4 LPHA made comment about Render’s portfolio companies Apple and NVIDIA and noted,

“RNDR can easily reach $100 billion market cap this cycle as money pours into AI.” The analyst identified the ascending triangle formation and indicated Render had potential to reach an all-time high.

Moreover, these bullish predictions align with the growing demand for decentralized computing resources, which may attract a large number of institutional investors to Render.

Render Token: Developments and On-Chain Activity

The on-chain activity surrounding Render has been heating up, driven by real-world rendering demand. Token burns have more than doubled since mid-August, reflecting increasing utility from 3D artists and studios.

Render’s ecosystem is expanding, and the growth of virtual content creation has fueled the need for decentralized rendering power. However, data shows that whales and sharks have accumulated over 20.5 million RNDR tokens worth $126.3 million in the last 11 weeks, representing 91% of the total supply.

This significant accumulation indicates that major players see long-term value in Render, especially as AI tokens gain traction. Meanwhile, active addresses have grown by 6%, reflecting increased confidence from retail investors.

Similarly, the large transactions are up by 527%, meaning that institutional interest in Render is on the rise. The increasing demand for decentralized computing power puts the company on the right track to attract even more institutional capital, which will ultimately enhance its value.

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