{"id":517401,"date":"2024-05-06T09:30:58","date_gmt":"2024-05-06T09:30:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=517401"},"modified":"2024-05-06T09:52:14","modified_gmt":"2024-05-06T09:52:14","slug":"is-it-too-late-to-buy-rndr-render-price-pumps-11-as-experts-say-this-new-depin-token-has-10x-potential","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/is-it-too-late-to-buy-rndr-render-price-pumps-11-as-experts-say-this-new-depin-token-has-10x-potential","title":{"rendered":"Is It Too Late To Buy RNDR? Render Price Pumps 11% As Experts Say This New DePIN Token Has 10X Potential"},"content":{"rendered":"

The Render price rose 11% in the last 24 hours <\/span>to trade at $10.05<\/span><\/a> as of 00:32 a.m. EST on trading volume that surged 7% to $337 million.<\/span><\/p>\n

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.<\/span><\/p>\n

Render Price Set To Reclaim Its ATH<\/span><\/h2>\n
\"Render
RNDRUSD Chart Analysis Source: Tradingview.com<\/figcaption><\/figure>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

Render Price Prediction<\/span><\/h2>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n