The Render Network is the first decentralized GPU rendering platform, empowering artists to scale GPU rendering work on-demand to high-performance GPU Nodes around the world.
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Render network gained momentum after coinbase said that it would add support for the perpetual futures of Render.
RNDRUSD prices surged nearly 50% this month. It hit a high of $6.57 and currently trading around $5.87. The pair is holding well above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).
The near-term resistance is around $6.20, any indicative breach above will take the pair to $6.60/$7.15/$8. On the lower side, immediate support is $5.50, and any violation below target is $4.95/$4.50.
Indicators ( 4- hour chart)
CCI (14)- Bearish (below -100)
CCI (50)- Bullish (below 100)
Average directional movement Index - neutral.
It is good to buy on dips around $5.50 with SL around $4.50 for TP of $8.
