Render Token (RNDR) Price Prediction 2023-2030: Will RNDR Price Hit $5 Soon?

• Bullish Render Token (RNDR) price prediction ranges from $2.813 to $3.16.
• RNDR price might also reach above $3.9 this 2023.
• RNDR’s bearish market price prediction for 2023 is $0.6.

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 RNDR 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)?

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. 

Utilising 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 payment is held in escrow until an asset is manually checked to ensure it was 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 $1.52 at the time of writing, with a total of 371,908,453 RNDR in circulation. RNDR has a 24-hour trading volume of $21,407,373, with a 6.69% increase. And during the past 24 hours, the price of RNDR increased by 1.45%. 

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

Render Token (RNDR) Price Analysis 2023

RNDR ranks 58th 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 is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand 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 candlesticks is currently trading in the top half of the region and moving closer to the upeer band. After facing a fall for some time, The candlesticks finally escaped the bottom half of the Bollinger Band. There may be a chance that the prices continue to rise as the upper band points upward, which could be a sign that it may move upwards. 

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 the overbought region, and traders expect the price could fall soon.

The RSI is currently valued at 53.74 after after experiencing a bullish crossover. When the RSI crossed above the SMA, there was a significant rise in its value and crossed beyond the 50 level. This significant rise could be attributed to buyers coming in to defend the altcoin. There may be a chance that the RSI could cross above 60, hence, proving it has strong trend in the market.

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 indicator shows that there are green bars forming on the indicator, hence, RNDR may have begun experiencing a bullish signal. The green bars continue to grow signaling that the bullish trend may continue to rise for some time. The MACD line also continues to move while increasing the gap between the signal lines. There is a high chance that MACD may continue to move upward for some time.

Render Token (RNDR) Price Prediction 2023-2030 Overview

Render Token (RNDR) Price Prediction 2023

Looking at the chart, the candlesticks seem to have been forming a falling wedge pattern. During its falling wedge pattern, RNDR formed low lows and low highs subsequently falling below the $1.6. The sudden surge of RNDR could be the altcoin’s entry into the uptrend market. If the candlesticks maintain this bullish momentum, then, there is a high chance that it would reach around $1.97.

Meanwhile, the forecast for RNDR remains to be bullish and is expected to reach beyond the level of $2.8. The bearish price prediction for RNDR ranges from $450 to $0.604. However, on the off chance, that RNDR experiences an extremely bullish sentiment again, there is a high possibility that it trade beyond the level of $3.9.

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

After hitting the support at $1.303, RNDR may have begun its ascend. The analysis shows that RNDR could reach the $1.975 resistance level if it maintains its bullish momentum. Moreover, it could take some time before the RNDR reaches the $2.359 level as observed from its previous market sentiment. The next resistance level could be near the $2.893 and it could take an extremely bullish sentiment to reach the next target level.

Render Token (RNDR) Price Prediction 2024

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. Since the Bitcoin trend affects the direction of trade of other cryptocurrencies, we could expect RNDR to trade at a price not below $3.36 by the end of 2024.

Render Token (RNDR) Price Prediction 2025

We should expect the price of RNDR to trade above its 2024 price due to the possibility of most cryptocurrencies breaking more psychological resistance levels due to the Bitcoin halving over the previous year. Hence, RNDR could end 2025 by trading at around $4.38.

Render Token (RNDR) Price Prediction 2026

Since the maximum supply of RNDR is approached by 2026, the bearish market that follows a solid bullish run impacts its previous price due to the entrance of more institutional investors to its platform. With this, the price of RNDR could break the usual trend and trade at $5.3 by the end of 2026.

Render Token (RNDR) Price Prediction 2027

Investors expect a bullish run next year, 2028, due to Bitcoin halving. Hence, the price of RNDR could consolidate on the previous gains and even break more psychological resistance levels due to investors’ positive sentiment. Therefore, RNDR could trade at $6.310 by the end of 2027.

Render Token (RNDR) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain higher high values. Render Token (RNDR) could hit $7.944 by the end of 2028. Also, RNDR is likely to break its ATH value.

Render Token (RNDR) Price Prediction 2029

By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of RNDR to $12.1207 by the end of 2029.

Render Token (RNDR) Price Prediction 2030

The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Render Token (RNDR) to trade at around $18.37 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.

Render Token (RNDR) Price Prediction 2040

According to our long-term Render Token price estimate, Render Token prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $44.1089 by 2040. If the market becomes bullish, the price of Render Token may increase beyond our 2040 forecast.

Render Token (RNDR) Price Prediction 2050

According to our Render Token forecast, the average price of Render Token in 2050 might be above $97.0397. If more investors are drawn to Render Token between these years, the price of Render Token in 2050 could be far higher than our projection.

Conclusion

To summarize, if investors continue to show interest in RNDR and add these tokens to their portfolio, then, it could continue to rise up. RNDR’s bullish price prediction shows that it could pass beyond the $2.8 level. Moreover, RNDR could surpass the $108 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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