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The Render price has dropped 4% in the past 24 hours to trade for $10.84 as of 04:43 a.m. EST.
But signs of a recovery are underway, accompanied by a 27% increase in trading volume. CoinGecko data shows that its peers in the AI sector are already rallying, among them Internet Computer (ICP), Arkham (ARKM), and Nosana (NOS).
The surge seen in the AI crypto coin sector comes after Apple closed a deal with OpenAI to use the latter’s technology in its new iPhone, Bloomberg reports.
Apple has closed in on an agreement with OpenAI to use the startup’s technology on the iPhone, part of a broader push to bring artificial intelligence features to its devices https://t.co/2t2Jq0JtpO
— Bloomberg (@business) May 13, 2024
The deal is part of a broader initiative to bring artificial intelligence features to Apple devices. There will be more concrete announcements about what artificial intelligence will bring to the brand.
Such announcements could come as soon as during the release of iOS 18, expected on the first day of the Worldwide Developers Conference on June 10.
Traders are optimistic about the Render price, with some alluding to the 4% plunge being part of a healthy correction.
$RENDER – Look at where we bounced again. 😮💨 pic.twitter.com/7H7aCVwrzA
— Doji 🥷 (@SatsDoji) May 13, 2024
“Generative AI is going to be growing exponentially for a while,” says @Rendoshi1, citing a burgeoning “new era of computing.”
Generative AI is going to be growing exponentially for a while. This new era of computing has just begun.
Sit back, relax, and stack tokenised GPU compute $RENDER https://t.co/mkyUuVuwC2
— Rendoshi Tokamoto ⭕️ (@Rendoshi1) May 12, 2024
Render Price Prediction
The Render price is trading with a bullish bias despite the 4% pullback on Monday. RNDR has maintained a steady streak of higher highs since the onset of May, amid growing bullish sentiment. Evidence of this is the climbing Relative Strength Index (RSI), which points to rising buyer momentum.
The Smooth Moving Average (SMMA) also provide downward support at $10.05, offering the RNDR bulls a point to refresh their buying strength. It is also a good entry point for sidelined or late bulls. Also, the histogram bars of the Awesome Oscillator (AO) are growing in size, reinforcing bullish sentiment for the Render price.
Increased buying pressure above current levels could see the Render price make a decisive candlestick close above the 61.8% Fibonacci retracement level at $10.92. Such a move would encourage more buy orders, potentially sending the RNDR price to the 78.6% Fibonacci retracement level of $12.21.
In a highly bullish case, the gains could extend for the AI token’s market value to take back the range high of $13.86, levels last seen on March 17. Such a move would constitute a climb of nearly 25% above current levels.
GeckoTerminal: RNDR/USD 1-day chart
Converse Case
Conversely, if the RNDR bears have their way, the Render price could succumb to selling pressure. This could see the Render price drop below the confluence of support between the 50% Fibonacci placeholder and the SMMA at around the $10.02 level.
Enhanced seller momentum, enough to plunge the Render price below the 38.2% Fibonacci placeholder at $9.11 would invalidate the bullish thesis. Effectively, this would mean the altcoin’s price has dropped out of the Golden Zone. The dire case could see the RNDR token price roll over to the 23.6% Fibonacci retracement level of $7.98.
Meanwhile, 5SCAPE is turning heads as the world-first AR/VR crypto presale charges toward $6 million. Oscar Ramos, a renowned Crypto YouTuber who boasts over 80k subscribers, says the project ticks all the boxes he requires for presales to invest in.
Promising Alternative To Render Token
5SCAPE is the native cryptocurrency for the 5th Scape ecosystem. It calls itself the gateway to the next big thing of the decade, with the official website describing it as the “world’s first AR & VR ecosystem that connects the smartest minds together.”
5th Scape is out to be a game-changer in the VR and AR space, bringing in a new age for this technology. It plans to use the Cage Conquest MMA game model, currently in beta version, to help deliver this revolution.
🥊 Exciting news, fight fans! 🥊 Step into the adrenaline-fueled world of mixed martial arts with "MMA Cage Conquest" – the ultimate VR experience for MMA enthusiasts.
🎮 Now available on the META store in beta version!
Checkout👉https://t.co/ocnZmChmKV
🚀 Train, fight, and… pic.twitter.com/sekC30LWFV
— 5th Scape (@5th_scape) May 9, 2024
While VR games are at the heart of the project, there are plans to feature other forms of content such as educational, social applications, and creative tools.
Step into new worlds of imagination. 🕹️🚀@5thScape is building a next-gen #VR and #metaverse ecosystem to redefine virtual reality.
Collect rare digital assets. The possibilities are endless!
Join the community – https://t.co/ewBcsEeltG#gaming #innovation #blockchain pic.twitter.com/hUe3cDDYnT
— 5th Scape (@5th_scape) February 11, 2024
The ticker for the 5th Scape project, 5SCAPE, is a utility token within the ecosystem. It gives token holders unlimited access to premium VR content, voting rights, and potential staking opportunities. Besides being an entry ticket, other use cases of 5SCAPE include:
- Provides access function: Holders receive exclusive access to games, experiences, and features within the platform.
- Play to Earn (P2E) function: Enables players to get incentives with 5SCAPE tokens that can be traded upon listing.
- Staking function: Comes as the project plans to offer staking mechanisms.
With 5SCAPE, step into a world where the only limit is your imagination. Here’s what awaits you:
Lifetime Free Access 🎁: Say goodbye to subscriptions! Enjoy a never-ending library of curated VR content that evolves with your tastes.
Exclusive In-Game Advantages 🔒: With… pic.twitter.com/AiPTd6NWer
— 5th Scape (@5th_scape) May 9, 2024
Buy 5SCAPE In The Presale
5SCAPE tokens are priced at $0.00327 each. With the listing price fixed at $0.01, it means investors can lock in gains of almost 206% by buying now.
With a 15% price increase coming soon, interested investors should act quickly to secure the best deal.
Also Read:
- How To Buy 5th Scape – 5SCAPE Token Presale Review
- 5th Scape Crypto Price Prediction – 5SCAPE Price Potential for 2024
- The VR Industry Is All Set To Receive A Massive Boost Thanks to 5th Scape (5SCAPE)
- If You Believe In The Future Of AR/VR, 5th Scape (5SCAPE) Is The Best Project To Invest In
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