The wind of Render (RNDR) is currently sweeping through the world of artificial intelligence coins, demonstrating superior performance and a more impressive upward trend compared to its counterparts.
Render Ecosystem is set to unveil a new launchpad, contributing to the recent surge in Render’s price. Over the past 24 hours, the price of Render has surged by 10%, and nearly 12% compared to the previous week. The ecosystem’s announcement of the Long Dragon launchpad has generated excitement within the market. This launchpad aims to simplify the process of participation for emerging Web 3.0 projects.
The Long Dragon launchpad will meticulously assess projects and may even invest in a portion of their funding rounds. It boasts a user-friendly structure that will attract both Web 2.0 and Web 3.0 investors.
Render’s Long Dragon will present an opportunity for staking using its native or booster token, LD. This allows token holders and stakers to compete on equal footing with whales, benefiting from economies 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 utilized for farming, governance, investment opportunities, and access to all features of the Long Dragon ecosystem. It will also serve as an incentive for user participation within the ecosystem, rewarding them accordingly.
Render’s price has experienced a significant breakout, surpassing the declining trend line in recent weeks. This breakout has been confirmed by a higher peak and supported by the positive movement of the Awesome Oscillator (AO), a lagging momentum indicator. Moreover, the Relative Strength Index (RSI) has entered the region above the average level of 50, further reinforcing the breakout.
With rising momentum indicated by the RSI, Render’s price is currently approaching the resistance level of $10.10. Surpassing this level could potentially lead to a breakthrough of the psychological resistance level at $11.00, resulting in a price increase of over 10%. If the price continues in this direction, it may test the next resistance level at $10.50. A close above this level could accelerate the price towards higher levels, potentially reaching above $13.00.
However, if profit-taking occurs, a price pullback may be observed. A drop below the $8.00 level could be concerning for long-term investors and could initiate a declining trend. Nevertheless, the bullish trend would only be invalidated if the price closes below $7.44.
Disclaimer: This article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research.
