Render Token (RNDR) Price Prediction 2023-2030: Will RNDR Price Hit $10 Soon?

• The bullish Render Token (RNDR) price prediction ranges from $3.87 to $4.01.
• RNDR price might also reach above $6 in 2023.
• RNDR’s bearish market price prediction for 2023 is $0.604.

Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies. Render Token (RNDR) is one of them.

RNDR is an ERC-20 compatible utility token used to pay for animation, motion graphics, and VFX rendering on the distributed Render Network. It is a peer-to-peer GPU compute network that connects creators who require additional computation power for rendering their scenes to providers who receive RNDR tokens in exchange for their GPU power.

If you are interested in the future of RNDR and want to know its predicted value for 2023, 2024, 2025, and 2030, keep reading!

Render Token (RNDR) Market Overview

What is Render Token (RNDR)?

The Render Token (RNDR) is an Ethereum token that enables distributed graphics processing using the Render Network protocol. Render Network connects people seeking to render images and video with those with idle graphics processing capacity using RNDR as the medium of exchange.

In 2009, OTOY, Inc. created the OTOY. CEO Jules Urbach launched in 2017. RNDR performed its initial public token sale in October of that year, followed by a private sale period from January 2018 to May 2018, during which 117,843,239 RNDR were sold at 1 RNDR = $0.25 for each token. During the private sale period, early adopters were onboarded onto the RNDR Beta Testnet, where beta node operators and artists collaborated with the RNDR team to create and test the network before its public launch on April 27, 2020.

Artists on the network can trade RNDR, an ERC-20 utility token, for GPU compute power from GPU suppliers. Prior to payment disbursal and art release, RNDR uses a manual and automatic proof of work system, or in this case, proof of render, to ensure that all art has been successfully rendered. 

Utilizing the Ethereum blockchain’s built-in security features, proprietary assets are hashed upon upload and sent in pieces to nodes for rendering. All RNDR payments are held in escrow during rendering and released to node operators after being manually approved as successful by the commissioning artist. 

All assets rendered on the network are watermarked until payment is successfully disbursed, at which point unwatermarked renderings may be downloaded. This prevents malicious actors in both user bases. All payments are held in escrow until an asset is manually checked to ensure it is correctly rendered.

Analysts’ Views on Render Token (RNDR)

Analysts are saying that due to the hype of ChatGPT, AI is becoming the biggest play for 2023.

Render Token (RNDR) Current Market Status

According to CoinMarketCap, Render Token (RNDR) is hovering over $3.03 at the time of writing, with a total of 371,908,453 RNDR in circulation. RNDR has a 24-hour trading volume of $350,517,637, with a 0.79% increase. And during the past seven days, the price of RNDR increased by 31.88%. 

The most popular exchanges to trade Render Token (RNDR) are Binance, Coinbase, KuCoin, Kraken, and Uniswap. Let’s continue with our RNDR price research for 2023.

Render Token (RNDR) Price Analysis 2023

RNDR ranks 51 on CoinMarketCap’s list of the biggest cryptocurrencies by market capitalization. Will RNDR’s most recent improvements, additions, and modifications help its price rise? First, let’s focus on the charts in this article’s RNDR price forecast.

Render Token (RNDR) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

The candlestick broke above the Bollinger Bands and continues to trade above the upper band. This trading activity is often seen as an overbuying sentiment. Moreover, the green candlestick on November 15 could have been responsible for pushing RNDR above the upper band. Ideally, traders would be expecting a retracement in this scenario after a few days of overbought trading activity.

Render Token (RNDR) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as an overbought region, and traders expect the price to fall soon.

The RSI, on the other hand, suggests that overbuying activity happened way back. This could be seen when the RSI entered the overbought region by crossing the 70 level. Currently, the RSI touched the overbought region and fell immediately. It is currently pointed downward. This could suggest that a bearish cross may happen soon.

Render Token (RNDR) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data.

The MACD highlights that, in the short term, RNDR seems to be making bullish movements. This could be seen through the green bars forming on the histogram. Moreover, the MACD line is moving upward after making a bullish crossover. It is still too early to determine whether RNDR will experience a fall in the future.

Render Token (RNDR) Price Prediction 2023

The candlesticks seem to have moved away from the $2.273 level with their sudden surge. Moreover, the Bull vs Bear Power also confirms that the market is ruled by the bulls. Moreover, if the candlesticks continue to move upward, they could hit the $3.941 level. Although earlier, RNDR hardly showed any signs that it might cross $3, the altcoin regained the confidence of traders in the hopes of breaking its resistance level. However, two indicators already confirmed that the trading activity was caused by a massive number of buyers, and an upcoming selling activity could trigger a bearish sentiment in the market. 

Meanwhile, the forecast for RNDR remains bullish and is expected to reach beyond the level of $4.01. The bearish price prediction for RNDR ranges from $0.450 to $0.604. However, on the off chance that RNDR experiences an extremely bullish sentiment again, there is a high possibility that it will trade beyond the level of $6.

Render Token (RNDR) Price Prediction – Resistance and Support Levels 

The candlesticks broke above the 0.382 Fib level this year, which indicates that the altcoin is highly influenced by the extreme bullish pressure. Moreover, there are high chances that the candlesticks may hit the 0.5 Fib level. If it does reach that level, traders can expect that the prices will fall to 0.382. It should be noted that this prediction is for 2023 only, RNDR will easily cross beyond the $3.8 level in 2024.

Render Token (RNDR) Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. RNDR could also be affected by Bitcoin halving and could trade beyond the price of $11 by the end of 2024.

Render Token (RNDR) Price Prediction 2025

RNDR could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, RNDR will continue to rise in 2025, forming new resistance levels. It is expected that RNDR will trade beyond the $16 level.

Render Token (RNDR) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, RNDR could tumble into its support region of $129. Moreover, when RNDR remains in the oversold region, there could be a price correction soon. RNDR, by the end of 2026, could be trading beyond the $17 resistance level after experiencing the price correction.

Render Token (RNDR) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears’ claw. RNDR is expected to rise after its slumber in the bear season. Moreover, RNDR could even break more resistance levels as it continues to recover from the bearish run. Therefore, RNDR is expected to trade at $21 by the end of 2027.

Render Token (RNDR) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be another Bitcoin halving. Like many altcoins, RNDR will continue to form new higher highs and is expected to move on an upward trajectory. Hence, RNDR would be trading at $28 after experiencing a massive surge by the end of 2028.

Render Token (RNDR) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, RNDR could be trading at $31 by the end of 2029.

Render Token (RNDR) Price Prediction 2030

After witnessing a bullish run in the market, RNDR and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, RNDR could be trading at $33.

Render Token (RNDR) Price Prediction 2040

The long-term forecast for RNDR indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as HODLERS may expect to sell some of their tokens at the ATH point. However, RNDR may face a slight fall before starting its upward journey once again. It is expected that the price of RNDR could reach $51 by 2040.

Render Token (RNDR) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, RNDR could surpass the resistance level of $71.

Conclusion

To summarize, if investors continue to show interest in RNDR and add these tokens to their portfolio, then it could continue to rise. RNDR’s bullish price prediction shows that it could pass beyond the $4.01 level in 2023. Moreover, RNDR could surpass the $71.75 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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