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Render’s price soared 23% to trade for $13,301 at 04:04 EST and trading volume soared 80%.
RNDR has outperformed its peers in the crypto AI space, including Fetch.ai (FET) and SingularityNET (AGIX).
It comes amid continued enthusiasm for the sector as the Nvidia GTC Conference 2024 kicks off on March 18 in Silicon Valley. The event, which marks AI chipmaker Nvidia’s biggest event, is expected to be a gateway to the next wave of AI innovations.
#NVIDIA #GTC24 it’s happening!
This is the gateway to the next wave of #AI innovations.
Any major announcement here could blow up Crypto AI! 💪$RNDR $FET $AGIX $GRT https://t.co/AaU2fdkUju pic.twitter.com/6yK79ukPJ8
— CriptoBusy (@CryptoBusy) March 18, 2024
With this, the market capitalization of AI cryptocurrencies has exceeded $44.2 billion, with the sector’s trading volume increasing by 45%.
🚀 AI coins are gaining momentum in anticipation of the NVIDIA conference! Here are the latest price movements:
– RNDD: +20%
– APR: +11%
– GRT: +8%
– FET: +12%
– AGIX: +13%Stay tuned for more updates as the market reacts to the latest developments in the AI sector! 🌐💡 #AI… pic.twitter.com/1K4Tv6adt1
-BoKuBu (@atrungbs87) March 18, 2024
However, data shows that amid the AI cryptocurrency mania, FET is recording the most social activity.
Main AI projects by social activity 🤖$FET$AGIX$GRT$RLC$ CLIMATE$PHA$CGPT$LINE$PRQ$social networks
All eyes are on AI cryptocurrencies ahead of the #NVIDIA AI conference taking place tomorrow.$RNDR He’s the only one who talks there ⭕️.
My two missing gems are $LAI… pic.twitter.com/q295urrwYa
— The Guru Learner (@GuruLearner01) March 17, 2024
Notably, Render’s price has outperformed its peers in the sector, with Near Protocol (NEAR), Bittensor (TAO), FET, and AGIX all rising.
Render Price Outlook Amid Crypto AI Euphoria
Render price has hit an all-time high of $13,838, driven by “buying buzz” surrounding the Nvidia GTC conference. Since the event will begin on Monday, March 18, the “selling the news” situation is likely to play out as well. This could cause the price of Render to drop.
The Relative Strength Index (RSI) position at 92 shows that RNDR is massively overbought and therefore at high risk of correction. However, taking into account Welles Wilder’s suggestion that an asset is only ripe for selling once the RSI crosses below 70, traders with currently open positions for Render price should probably leave them open.
However, marginalized and late bulls should probably proceed with caution. This is because with the rise, fear of missing out (FOMO) is expected to increase, and could lead to a correction as traders look to cash in while the market is still hot.
Meanwhile, the market is leaning strongly in favor if the upside and Render price can break the high of $13,838 before a northward extension. Such a directional bias could cause Render price to record a new all-time high at the psychological level of $14,000 or higher.
Note the strong presence of bulls in the RNDR market. The large and growing volumes of the Awesome Oscillator (AO) histograms demonstrate this.
TradingView: RNDR/USDT 1-week chart
Reverse case
On the other hand, extrapolating the overbought narrative, Render price might need a correction. There are already signs of decline, as shown by the reduction of the volume indicator, proving that the current trend is starting to lose strength.
If the bears take back the market, driven by profit booking, Render price could decline, first losing support due to the 78.6% Fibonacci retracement level at $10.958. A prolonged decline could see the AI cryptocurrency test the most critical 61.8% Fibonacci retracement level at $8,697.
In a severe case, Render price could fall below the 50% Fibonacci position marker at $7,109. A break and close below this level would invalidate the bullish thesis, confirmed by a decline below the ascending trend line below the psychological level of $6,000.
Meanwhile, investors are flocking to 5LANDSCAPE, a new VR/AR pre-sale. It is the symbol of the 5th Scape ecosystem, billed as the world’s first AR and VR ecosystem connecting the smartest minds.
Promising alternative to rendering
5th escape says it is the gateway to the next big breakthrough of the decade, unlocking the limitless potential of the virtual realm.
Community members can experience a hyper-realistic virtual reality game world through a wide range of gaming experiences. The wide variety of offerings include everything from adrenaline-filled battles to precision archery, high-speed racing and immersive sports.
🌐✨Embark on an innovative journey with 5th Scape! 🚀 We don’t just create games; We are forging immersive realities. As developers of the virtual reality ecosystem, our goal is to redefine the gaming landscape. 🎮✨ 🌌🕶️ #5th landscape #VRInnovation #Immersive games #Technological revolution 🚀🎮 pic.twitter.com/khmgW84Kti
– Fifth landscape (@5th_scape) December 28, 2023
The 5th Scape VR ecosystem enables the Web3 industry to move into tomorrow by unleashing the next wave of gaming innovation in the virtual reality industry.
The platform aims to become the architect of alternative realities by creating a complete integrated system with hardware and software.
Experts say it has the potential to increase profits 100-fold at launch.
The 5th Scape VR ecosystem also features a developer hub to give builders access to the right resources to bring their worlds to life and unleash a new wave of gaming innovation.
You can become an early adopter of this budding ecosystem with pre-sales still active.
Join us now!!!!!#cryptocurrency #Symbolic #5tolandscape pic.twitter.com/yNEeQrrbP1
– Fifth landscape (@5th_scape) March 16, 2024
So far, pre-sale sales have surpassed $1.5 million as the project moves toward its $2.5 million goal.
Investors looking for buy 5SCAPE, the token of the 5th Scape ecosystem, can do so for $0.00215. With a 15% price increase in just over five days, it is best for interested investors to buy now.
Visit and purchase 5SCAPE here.
Also read:
New crypto mining platform: Bitcoin Minetrix
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free Bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 50% APY
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