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The Render price rose 11% in the last 24 hours to trade at $10.05 as of 00:32 a.m. EST on trading volume that surged 7% to $337 million.
This comes as the Decentralized Physical Infrastructure Network (DePIN) sector continues to grow rapidly in the crypto space, with tokens in the sector, including Filecoin and Theta Network, registering positive gains in the last week, rising 8% and 7%, respectively.
Render Price Set To Reclaim Its ATH
In January and early February, the Render price hovered within a consolidation channel, maintaining a tight range of around $4. However, the bulls surged ahead, propelling RNDR to an all-time high (ATH) of $13.53.
Since reaching this ATH, the bulls have struggled to regain their footing, as the price retraced back within a descending wedge pattern, finding support near $6.79. Yet, this support has encouraged the bulls, leading to a breakthrough above the wedge’s upper boundary, marking the initiation of a bullish upswing.
RNDR now trades comfortably above both the 50-day and 200-day Simple Moving Averages (SMAs), solidifying the bullish momentum. Additionally, the Relative Strength Index (RSI) registers at an elevated 84, signaling robust buying pressure in the market.
Render Price Prediction
The Render price analysis shows that RNDR is on a very strong bullish trend to the upside, as it aims to surpass the upper boundary of the falling wedge pattern, with the bulls aiming for $14.
The major indicators, including the SMAs and the RSI, provide bullish prospects for optimistic investors, who could drive more buys into the market, potentially pushing the price over to hit a new ATH.
However, the 50-day SMA crosses below the 200-day SMA, forming a death cross at $10.44. A death cross could still be a sign that RNDR has not completed its bearish trend. If the bears sustain pressure, RNDR could go back to the $7.58 support, acting as a cushion against downward pressure.
While RNDR’s price skyrockets, a growing number of investors are turning their attention to diversifying their portfolios with its DePIN alternative, eTukTuk. Jacob Bury, a prominent crypto analyst on YouTube, has expressed optimism, suggesting that $TUK could potentially surge 10x after launch.
eTukTuk Presale Blasts Past $3 Million – Best Green Crypto To Buy Now
The eTukTuk (TUK) presale continues to gain momentum in the crypto space, with its presale garnering $3.2 million, as it hurtles towards its target of $3.5 million.
The project combines electric vehicles, blockchain technology, and artificial intelligence (AI) to deliver AI-powered Tuk Tuks that aim at improving not only traffic conditions but also reducing the user’s carbon footprint.
Did you know that carbon emissions from vehicles contribute significantly to climate change, air pollution, and global heath crises!
From extreme weather events to respiratory diseases, the impacts are profound.
By choosing #eTukTuk's, you're not just making a transportation… pic.twitter.com/zvb3lmJJyp
— eTukTuk (@eTukTukio) May 4, 2024
eTukTuk is set to deliver its product to developing nations first, and then to other countries worldwide. The platform aims at building the charging infrastructure of tomorrow and powering it with blockchain.
Apart from TUK’s potential for growth, you can also earn passively through the staking system, where you stand to earn passively by staking $TUK for 85% annual rewards.
Introducing Buy and Stake mechanism, get $TUK tokens and instantly stake them, initiating a dynamic APY.
Early stakers enjoy higher returns as APY adjusts with participation, encouraging early adoption and a fair, enticing incentive structure for all. 💫 pic.twitter.com/pMrXEZzB3f
— eTukTuk (@eTukTukio) October 10, 2023
The project is also launching a play-to-earn (P2E) game, Crazy Taxi, in which players race around the streets of Sri Lanka, picking up and dropping off customers.
To participate in the presale, you can buy $TUK at $0.0305 per token before the price increases in a little more than seven days.
You can buy $TUK tokens today by visiting the official eTukTuk website here. Swap BNB or USDT for $TUK tokens, or buy directly using your bank card.
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