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Render price is up 8% in the last 24 hours to trade for $3.518 as of 3:20 AM EST, with a trading volume surge of 35%.
AI tokens, including Render, have been recording a surge in trading volume since mid-October, according to analysis by research firm Kaiko.
Trade volume for AI-related tokens has surged since the middle of October, led by $RNDR, $WLD, and $FET. pic.twitter.com/iuR2nMIwsY
— Kaiko (@KaikoData) November 28, 2023
The Render token bears multiple use cases, with the potential to render graphics for the metaverses to come, and perhaps much of the internet.
Ethereum Founder Vitalik Buterin Concerned Over AI
In the wave of the AI mania, Ethereum founder Vitalik Buterin raised concerns over 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 misalign with those of humans.
New monster post: my own current perspective on the recent debates around techno-optimism, AI risks, 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 demonstrate optimism for Render token price, with some anticipating an extended leap to $3.60.
Seems like $RNDR had an amazing uptrend today with a spike that almost reached $3,50.
Let’s see if Asia wakes up bullish and buys #RNDR to keep the uptrend going.
I have a feeling $3,60 will be crushed tomorrow. pic.twitter.com/CIB9lVL2w5
— D0c Crypto ⭕️ (@TheRealD0c) November 30, 2023
This is likely, considering the Relative Strength Index (RSI) momentum indicator is yet to cross below 70. Similarly, the Awesome Oscillator (AO) indicators are high up in the positive territory. Its histogram bars are green, recording huge volumes. This shows the bulls have established a strong presence in the RNDR market.
Render price is trading within a supply zone extending from $3.158 to $3.725. Increased buying pressure could see Render price extend, breaking past the midline of this order block at $3.451. A break and close above this level would confirm the continuation of the trend, confirming that awaited $3.600 tag.
Further north, Render price could flip the supply zone into a bullish breaker. This will be confirmed by a foray that tags the $4.150 resistance level. In a highly bullish case, the gains could extrapolate for RNDR market value to tag $4.607, a move that would constitute a 30% climb above current levels.
Converse Case
On the flip side, if the midline of the supply zone fails to hold as a support level at $3.451, Render price could steadily move below the supply zone. With this supply barrier imposing overhead pressure on RNDR, Render price could descend to the $2.825 support level, or lower, testing the 2.238 support level.
In the dire case, the slump could extend below the ascending trendline. This would invalidate the bullish outlook and expose Render price to tag the $1.000 psychological level. Such a move would constitute a 70% fall below current levels.
However, even as Render price continues to tread within a supply zone, forward-looking investors have better and more promising alternatives. Among them, Bitcoin ETF Token, the only project that is rewarding token holders when spot BTC exchange-traded products are approved.
Describing #BitcoinETF: not just an anticipation for the #Bitcoin #ETF surge, but a utility #Token! 🚀
A quarter of the supply is set for incentives, promoting network strength.
Stay tuned for details on the platform for full transparency! pic.twitter.com/loXeh8JyMQ
— BTCETF_Token (@BTCETF_Token) November 26, 2023
Promising Alternative To Render
Bitcoin ETF Token, standing among the best crypto ICOs to buy in 2023, is a new project in the market that front-runs the spot BTC ETF hype. Ahead of what experts say is imminent approvals, the project continues to thrive, giving investors a chance to get in early.
Senior #Bloomberg #ETF Analyst Eric Balchunas reiterates the potential for a spot #BitcoinETF approval before January 10, 2024.
Considering the expected spot #Bitcoin ETF approval, how do you believe it will influence community sentiment and market dynamics within the…
— BTCETF_Token (@BTCETF_Token) November 29, 2023
Its powering token, BTCETF, is selling for only $0.006 in the sixth stage of the presale, a price tag that will endure for the next 18 hours. Hurry and buy BTCETF in the current stage for early entrant discounts.
#BitcoinETF Stage 6 has officially started! 🎉 pic.twitter.com/3fdtIR4TyK
— BTCETF_Token (@BTCETF_Token) November 28, 2023
So far, presale collections have reached over $2.107 million, out of the set target of $2.498 million.
The project has also implemented a burn tax, set at 5% for every transaction, intended to reduce the supply of BTCETF tokens over time. With reduced supply, demand should go up along with the price, based on supply and demand dynamics.
#BitcoinETF incorporates a 5% burn tax on every transaction, leading to a gradual reduction in the #Token supply as time progresses.
The plan is to burn 25% of the tokens as specific milestones are achieved aiming to alleviate 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 presale here.
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