Join our Telegram channel to stay up to date on breaking news coverage
The render price has risen 8% in the last 24 hours to trade at $3,518 at 3:20 am EST, with trading volume increasing by 35%.
ai tokens, including Render, have seen an increase in trading volume since mid-October, according to an analysis by research firm Kaiko.
ai-related token trading volume has increased since mid-October, led by $RNDR, $WLDand $FET. pic.twitter.com/iuR2nMIwsY
– Kaiko (@KaikoData) November 28, 2023
The rendering token has multiple use cases, with the potential to render graphics for the coming metaverses and perhaps much of the internet.
ethereum founder Vitalik Buterin concerned about ai
In the wave of ai mania, ethereum founder Vitalik Buterin expressed his concerns about the potential dangers of ai through a blog post titled “My Techno-Optimism.” In the post, Buterin detailed the unique risks that come with ai, including its potential to evolve into a form of intelligence whose interests do not align with those of humans.
Monster new post: my own current perspective on recent debates about techno-optimism, the risks of ai, and ways to avoid extreme centralization in the 21st century.https://t.co/6lN2fLBUUL pic.twitter.com/h5aIyFNCoh
— vitalik.eth (@VitalikButerin) November 27, 2023
Render token price outlook as RNDR trades within a supply zone
Investors continue to show optimism for the price of the Render token, with some anticipating a prolonged jump to $3.60.
Seems $RNDR It had an incredible uptrend today with a peak that almost reached $3.50.
Let's see if Asia wakes up bullish and buys #RNDR to maintain the upward trend.
I have a feeling they will crush $3.60 tomorrow. pic.twitter.com/CIB9lVL2w5
– crypto D0c (@TheRealD0c) November 30, 2023
This is likely, considering that the Relative Strength Index (RSI) momentum indicator has yet to cross below 70. Similarly, the Awesome Oscillator (AO) indicators are high in the positive territory. Its histogram bars are green and record huge volumes. This shows that the bulls have established a strong presence in the RNDR market.
The rendering price is trading within a supply zone extending from $3.158 to $3.725. Further buying pressure could cause Render price to extend, surpassing the midline of this order block at $3,451. A break and close above this level would confirm the continuation of the trend, confirming the expected $3,600 level.
Further north, Render price could turn the supply zone into a bullish switch. This will be confirmed by a raid marking the $4,150 resistance level. In a highly bullish case, gains could be extrapolated to take the market value of RNDR to $4,607, a move that would constitute a 30% increase above current levels.
Reverse case
On the other hand, if the midline of the supply zone does not hold as a support level at $3.451, Render price could constantly move below the supply zone. Since this supply barrier puts pressure on RNDR, Render price could decline to the $2,825 support level, or lower, testing the 2,238 support level.
In the most severe case, the decline could extend below the ascending trend line. This would invalidate the bullish outlook and expose the price of Render to reaching the psychological level of $1,000. Such a move would constitute a 70% drop below current levels.
However, even if Render price continues within a supply zone, forward-thinking investors have better and more promising alternatives. Among them, bitcoin ETF Token, the only project that rewards token holders when btc spot exchange-traded products are approved.
Describing #BitcoinETF: not just an anticipation of the bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin #ETF increase, but a utility #Symbolic!
A quarter of the offer is allocated to incentives, promoting the strength of the network.
Stay tuned for details on the platform for complete transparency! pic.twitter.com/loXeh8JyMQ
– BTCETF_Token (@BTCETF_Token) November 26, 2023
Promising alternative to rendering
bitcoin ETF Token, which is among the best crypto ICOs to buy in 2023, is a new project in the market leading the btc ETF spot hype. Ahead of what experts consider imminent approvals, the project continues to prosper, giving investors a chance to get in early.
Senior #Bloomberg #ETF Analyst Eric Balchunas reiterates the potential of a spot #BitcoinETF approval before January 10, 2024.
Considering the expected location bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF approval, how do you think it will influence community sentiment and market dynamics within the…
– BTCETF_Token (@BTCETF_Token) November 29, 2023
Its power token, BTCETF, is selling for just $0.006 in the sixth stage of the pre-sale, a price that will remain the same for the next 18 hours. Hurry up and buy BTCETF at the current stage to get discounts for early participants.
#BitcoinETF Stage 6 has officially begun! pic.twitter.com/3fdtIR4TyK
– BTCETF_Token (@BTCETF_Token) November 28, 2023
So far, pre-sale collections have exceeded $2,107 million, over the set goal of $2,498 million.
The project has also implemented a burn tax, set at 5% for each transaction, aimed at reducing the supply of BTCETF tokens over time. With reduced supply, demand should increase along with price, depending on supply and demand dynamics.
#BitcoinETF incorporates a 5% burn tax on each transaction, leading to a gradual reduction in the #Symbolic offer as time progresses.
The plan is to burn 25% of the tokens as specific milestones are achieved with the goal of easing selling pressure. pic.twitter.com/odZwrPDn0D
– BTCETF_Token (@BTCETF_Token) November 27, 2023
Go to the bitcoin ETF Token website to buy BTCETF in the pre-sale here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
Join our Telegram channel to stay up to date on breaking news coverage
