Today, it can be said that Render (RNDR) is gaining popularity among artificial intelligence coins. Not only has RNDR outperformed its competitors in the field, but it has also shown a more impressive upward trend compared to most other alternative cryptocurrencies.
Render Ecosystem Announces Launch of New Launchpad
Over the past 24 hours, the price of Render has risen by 10%, and nearly 12% compared to last week. The ecosystem has announced the launch of a new launchpad. Render is paving the way for the Long Dragon launchpad, which aims to simplify the participation process for emerging Web 3.0 projects.
The Long Dragon launchpad will thoroughly evaluate projects and may even invest in a portion of their funding rounds. The platform has a user-friendly structure that will attract both Web 2.0 and Web 3.0 investors.
Render’s Long Dragon will provide the opportunity to stake with its native or booster token, LD. This will allow token holders and stakers to compete in the same market as major investors and benefit from the advantages of scale. These advantages include higher yield opportunities, access to top-tier presales, the best airdrops, and market-making opportunities.
In addition to staking, the LD token can also be used for farming, governance, investment opportunities, and access to all features of the Long Dragon ecosystem. The token will also be utilized to incentivize user participation in the ecosystem and reward them.
Render Price Soars Amid Launch Excitement
Render’s price has experienced a significant breakout as it surpassed the declining trend line in recent weeks. This breakout was confirmed with a higher peak. Furthermore, the Awesome Oscillator (AO), a lagging momentum indicator, has entered the positive zone, indicating a potential rise. The breakout was further strengthened by the Relative Strength Index (RSI) entering the region above the average level of 50.
With the RSI showing increasing momentum, the Render price is currently heading towards the $10.10 resistance level. However, surpassing this level could also mean surpassing the psychological resistance level of $11.00. In such a case, the price could increase by over 10%. If the price continues in this direction, it may test the next resistance at $10.50. A close above this level could further accelerate the price, potentially aiming for levels above $13.00.
However, if profit-taking occurs, a pullback in the price could be observed. Falling below the $8.00 level could be worrisome for long-term investors and could result in a declining trend. However, the bullish trend would only be invalidated if the price closes below $7.44.
Disclaimer: This article does not provide investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks. It is recommended to conduct thorough research before making any investment decisions.