Render Rises 25% in a Week, Supported by Analysts for $50 This Year

Leading AI cryptocurrency Render, which focuses on DePINs, has demonstrated notable relative strength lately, rising more than 20% this week.

But a well-known market analyst has forecast that there may be much more upside ahead.

Render May Increase by 5X While Bulls Hold Off $7 Resistance 

Render has been in the fight for $7 since a couple of weeks now between bears and bulls.

This highlights why the price level is crucial for where Render may be headed next from a technical perspective. Crypto Patel believes that such a hold would start "a parabolic move higher into 2022".

Render this month is in a +1.8% from the overall market, 25% higher then last week and for today's time frame grew by an average of 10%. It trades at $9.8 now.

It is important to also consider the broad market selloff this past month, a decline which Render has since recovered from following last week's rapid rebound that remains underway even though it might not appear overly bullish in monthly terms.

With a market value of $3.8 billion and a 24-hour trading volume of $353 million, it has increased by 10% today.

After analyzing Render's price on Saturday, Crypto Patel backed it to $50, which is more than five times the current price.

The analyst indicated that a hold above $7 is very bullish and pointed out two support levels at $7 and $3.5.

Having said that, he cautions that a loss of the $7 level might signal a sharp decline toward the $3.5–$4 region.

"RNDR has gained 34x in a year and 10x in 7 months," said Crypto Patel in his explanation. For new investments, though, the risk is currently very high.

He went on, "RNDR can reach new ATHs and aim for $50 if it holds $7 support." However, if $7 breaks out, consider purchasing at the strong support level of $3.5–$4.

Using a more compressed time frame, well-known trader World Of Charts projects that Render may rise to $15–$16 in the upcoming weeks.

The analyst pointed out that RNDR recently broke out of a bullish pennant chart pattern, which usually signals an upward reversal.

In fact, it's clear from the price chart that Render has a very bullish outlook. 

Render offers a decentralized network of computing power for media, AI, AR, and VR applications that need graphics rendering, according to its website.

Its recent excitement has been fueled by its position at the intersection of many emerging fields, but another project that crosses multiple trending narratives is 5th Scape, a presale that has raised $5.5 million thus far.

After Raising $5.5 Million During The Presale, Is 5th Scape The Next Big Vr Crypto?

The closeness of 5th Scape to a developing cryptocurrency story and its strong presale momentum point to a promising future.

It is a virtual reality ecosystem that offers incredibly lifelike gaming experiences. Numerous games are in development, the first of which is Cage Conquest, a mixed martial arts game.

The group will then release games for racing, cricket, soccer, and archery.

5th Scape is also creating custom VR headsets and gaming chairs in an effort to become a market leader. These will prioritize visual realism and ergonomics to deliver unmatched elevated experiences.

The project's $5.5 million total funding raise demonstrates the enduring interest of investors in its innovative use case. Expert analysts, though, are also coming out in favor.

Prominent analyst Decrypt Crypto hypothesized that 100x gains are involved in a recent YouTube video.

Although profits of this kind are uncommon, they are considerably more likely in developing industries like virtual reality (VR), which open up new markets.

The $5SCAPE presale price is currently $0.00327, but it will increase gradually over the course of the campaign. The next surge will happen when the entire amount raised reaches $6.25 million. 

Furthermore, a 205% markup, or $0.01, is the scheduled exchange listing price.