Render Is Rendering Profits With A 9% Jump! However, Bitcoin Minetrix Is Where the Future’s At

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Render (RNDR) price is bullish, featuring among the day’s top gainers alongside Bitcoin SV (BSV) and Stacks (STX). Meanwhile, crypto markets continue to hold out hope for a nod from the US Securities and Exchange Commission (SEC) regarding the exchange-traded fund (ETF) applications.

Notably, after the reaffirmation of the Grayscale GBTC win following the SEC missing the October 13 deadline for an appeal, the market anticipates a Spot Bitcoin ETF coming soon. This has made Bitcoin Minetrix the latest frenzy as investors look to capitalize on Bitcoin (BTC) as an investment ahead of the much-awaited bull market.

Render Token Trending As RNDR Features Among Daily Top Gainers

Render token is among the daily gainers, recording a surge of over 10% in the last 24 hours, with a 161% increase in trading volume over the same duration.

Today's Top Gainer
📈 +59.18% #STRAX/#USDT

Welcome all new to crypto trading to join #Fairdesk⚖!
👉 https://t.co/o8PIqx8j62 $STRAX $BAND $BNX $RNDR $EGLD pic.twitter.com/aLWBnYKrb5

— Fairdesk | Hiring (@FairdeskGlobal) October 16, 2023

Further, on-chain data shows that Render is among the top eight projects by daily exchange outflow growth. This shows a percentage of tokens are moved from exchange to non-exchange wallets out of a total token flow.

In perspective, when tokens are moved to an exchange, it is often a sign of intention to sell. Therefore, The above data indicates that traders do not plan to sell their Render holdings anytime soon.

The hindwings for Render token come as investors capitalized on the recent slump to buy the dip.

Look, I told you to buy #RNDR at $1.48.

There is no reason of not to buy #rndr at every correction. #BTC ETF and halving is coming soon. https://t.co/KgSIeUwKIC

— RNDR 🌙🌙 (@DhirajO78326261) October 16, 2023

If the narrative plays on, Render price could head further north, with investors or token holders keeping their profit-booking appetite in check.

Render Price Outlook As Investors Look At RNDR As A Long-term Investment

At the time of writing, the Render price is $1.865, highlighting a long candlestick on the one-day timeframe. It comes from buying pressure from three distinct buyer congestion zones. The first extends from $1.331 to $1.496, the second from $1.496 to $1.573, and the third from $1.705 to $1.769. Due to the overlap between the first and second demand zones at $1.496, this area represents a critical support zone.

Based on the chart above, RNDR bulls are attempting to push the Render price further, steering with increased buying pressure. However, the supply barrier of $1.938 to $2.144 limits the upside potential. If bullish momentum grows, the altcoin could confirm the uptrend by breaking and closing above the mean threshold of the supply zone at $2.039.

Further north, the gains could see Render’s price shatter three equal highs at $2.286, $2.522, and $2.804 before tagging the range high at $2.950. Such a move would constitute a 60% climb above current levels. Perpetual traders looking to open long positions should wait for the Render price to break and close above the $2.039 level.

The Relative Strength Index (RSI) bolsters the case for the bulls, with its position at 66 showing bulls are leading the market. It also suggests there is more room for the upside. The Awesome Oscillator, steadily sustaining in the positive territory, enhances this stance. This shows bulls are in the driver’s seat, and RNDR could head higher in value. However, it depends on whether it will overcome the supply zone, flipping it to the bullish breaker.

Invalidation Thesis

On the other hand, with the supply zone holding as a resistance level, the Render price could pull south, potentially breaking below the demand zone. Flipping this buyer congestion level would render the demand zone a bearish breaker.

Further south, the slump could extend to the critical support at $1.487. Traders looking to open short positions could do so after this breach is confirmed, with the next optimistic target being the $ 1,200 psychological level. This would denote a 35% slump below current levels. A break and close below the $ 1,400 psychological support would be confirmation of a continued downtrend.

Meanwhile, investors looking to ride the Bitcoin ETF euphoria can acquire BTCMTX tokens. The token is the new presale hype, offering willing investors an entry into a project with 10X growth potential.

Render Alternative

With the Bitcoin ETF mania still on and the odds of approval have increased, now is the best time to be a BTC owner. Bitcoin Minetrix gives you the chance to do so. How? By mining BTC so you do not have to. Buy and stake BTCMTX tokens to join the safe and secure Bitcoin cloud-mining platform.

Simplified Mining Experience! 🛠️#BitcoinMinetrix envisions a solution for quiet and clutter-free mining. 🔇

No clunky setups, disturbances, or overheating – just effortless and seamless $BTC cloud mining!#CryptoCommunity pic.twitter.com/LM6XH5RyNy

— Bitcoinminetrix (@bitcoinminetrix) October 13, 2023

The project is in the second stage of the presale after the first one sold out fast. Investors looking to buy BTCMTX can do so now at current rates of $0.0111, joining the other smart investors who are getting in early. The tokens are available for purchase using Ethereum (ETH) and Tether (USDT) stablecoin.

#BitcoinMinetrix is now in Stage 2! 🎉 pic.twitter.com/mT63lX9MRP

— Bitcoinminetrix (@bitcoinminetrix) October 16, 2023

The Bitcoin Minetrix ecosystem uses an approach different from the traditional BTC mining mechanism. It has decentralized and tokenized the whole process, eliminating risks related to scams. It has also spared you the hassle of costs, space, heat, and hardware. Buy and stake your BTCMTX tokens for credit to redeem later for mining hash power.

#BitcoinMinetrix vs Conventional Cloud Mining

Risk Assessment: 📊#BTCMTX = Smooth withdrawals and selling options.

Traditional cloud mining = Zero reimbursements, payouts influenced by market volatility. pic.twitter.com/JZx2fqt3bB

— Bitcoinminetrix (@bitcoinminetrix) October 15, 2023

Visit and Buy BTCMTX here