Important update on the Crypto Market; understand RNDR!Quick Intro
In this fundamental analysis article, we will explore RNDR (RenderToken), a distributed GPU rendering network built on the Ethereum blockchain. RNDR aims to revolutionize the rendering industry by connecting artists and studios with GPU providers in a decentralized manner. We will delve into the workings of RNDR, its token utility, and the notable aspects of the project.
Overview of RNDR:
RNDR was conceptualized by Jules Urbach, CEO of OTOY, Inc., in 2009 and launched in 2017.
The project conducted its first public token sale in October 2017, followed by a private sale period from January to May 2018.
RNDR raised a total of 117,843,239 tokens during the private sale, with each token priced at $0.25 USD equivalent.
The RNDR Beta Testnet involved early adopters, including beta node operators and artists, who collaborated with the team to refine and test the network.
On April 27th, 2020, RNDR went public with its official launch.
How RNDR Works:
RNDR operates on the Ethereum blockchain, utilizing the ERC-20 standard for its utility token.
Artists on the network can exchange RNDR tokens for GPU compute power provided by GPU operators, enabling efficient rendering of complex graphics.
RNDR employs a combination of manual and automatic proof of render mechanisms to ensure the successful completion of rendering tasks before payment is disbursed and the artwork is released.
The network utilizes the inherent security properties of the Ethereum blockchain to hash and distribute proprietary assets to nodes for rendering.
Payments for rendering services are held in escrow during the process and released to node operators upon manual verification by the commissioning artist.
To prevent malicious activities, rendered assets remain watermarked until payment is received, and all payments are held in escrow until successful verification.
About RNDR:
RNDR is backed by OTOY, Inc., with its team based in Los Angeles and members located worldwide.
The advisory board includes industry leaders such as Ari Emanuel, JJ Abrams, and Brendan Eich, providing guidance in aligning the project's objectives with the cryptocurrency and Hollywood production communities.
RNDR has seen growth in its user base, with the number of active addresses reaching 29,000 compared to 22,000 three months ago, indicating increasing adoption and interest.
tldr:
RNDR presents a unique use case for blockchain technology in the rendering industry, providing artists and studios with access to efficient GPU compute power. The combination of decentralized rendering, secure payment mechanisms, and a renowned team backing the project positions RNDR as a potential disruptor in the field. As the project continues to grow its user base and expand its network, the future adoption and utility of RNDR will be key factors in determining its long-term success.
My mid-term thoughts on the price:
The TPI is currently in the negative territory, to we might go lower in the mid-term (couple of days / weeks).
On the Long term I do see the price of RNDR going up if the strength of the cryptomarket continues to go up; the current long-term TPI is quite high.
Long term Crypto market is only slightly bullish on the long-term TPI:
Down below I linked a previous idea I made where I explain how the TPI works
I also linked the momentum channel indicator that I made, it's free for use here on TradingView, I made it a public script
RNDRUSDT trade ideas
RNDRUSDT long ideaThis can be a good scenario for a long position. We have both static support and dynamic support at this point. There is also a possibility of a head and shoulder pattern forming. The numbers in the chart do not mean my entry or exit point and I will enter the position after confirmation
⚠️ "Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
RNDRUSD ❕ broke down the channelAfter breaking through the channel, the movement of the asset has acquired a downtrend.
I believe that the RNDR will continue to decline after the price fixes under the support level.
RNDRUSDTHello and welcome back,
*Mars Signals Team wishes you high profits*
This is a one-day-time frame analysis for RNDRUSDT
According to our last analysis on May 4, we expected a decline for the price to happen and currently we have this expectation happening well. In the present chart, R1 and R2 are the resistance areas to mention and both express the unsuccessful attempts of price in order to rise. S2 and S3 used to be resistance areas. And finally at the bottom, S1 is a long-term support line at which the support of price at various points is clearly seen. We can observe that the price was in a rising trend after breaking S3 upward but via some rejections and disabilities in order to rise more to higher amounts, it was supported well at S1 line and made its rise toward R2. There the pressure of sellers forced another decline and it fell toward S1 line again via a negative Marubozu Candle. At the moment, the price is fluctuating below R1 area and we believe the price to have more decline to touch S2 area or even by falling more and activating our stop-loss point, more support and fixation would happen and another rising trend is waiting for it to reach higher amounts such as R1 or R2 (which are believed to be great points to save your profits). By the time the price loses the support at S2 and moves below this area, it certainly faces more decline toward S3. So wait for it to have some support and fixation there, and then enter trading in its retest trend upward. Our prediction would be less decline when the price is moving and fluctuating over S1 line. Please be cautious about various points and details and remember that for enjoying less risky trades. You can obtain every piece of information and details through our analyses and updates. So keep moving with our team.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Have a great time
RNDR - Alot of room to the downsideRNDR has had a great run. The consolidation here leaves the minor and major supports really far from the current price action making it probably one of the most optimal short opportunities. Tight stops, gl hf.
RNDR Finishing its ABC waveRNDR Finishing its ABC wave, might see an upward movement from here for a while.
Good luck.
RNDRThe price has dropped to the lower boundary of the ascending channel on the logarithmic chart and the 200 EMA. The price is oversold on multiple timeframes. Some indicators show bullish divergences, which may indicate a price rebound upwards. A breakout of the lower boundary of the channel and the 200 EMA will confirm a downtrend, and the price will head towards the weekly 50 EMA.
RNDRUSDT on 4h support and likely to head to 2.16The price has hit the previous low which is also 4h support zone. I expect the price to bounce here as the long side trade is favorable. The target for this trade shall be at least 2.16 and probably 2.18.
Rndrusdt Retesting Rndrusdt
Retesting big horizontal breakout level on higher time-frame
Incase of succesful breakout expecting massive bullish wave
Keep eyes on it
RENDER TOKEN BUY 🚀RNDRUSDT is currently forming a higher low before creating a higher high. My target is at arround the $3.00 mark.
Risingwedge pattern wait and watch guysrisingwedge pattern in watch cryptp RNDUSDT binance futures trade
RNDRUSDTHello again,
*Mars Signals Team wishes you high profits*
This is a one-day-time frame analysis for RNDRUSDT
As we analyzed on April 23, we predicted a rise to happen and here we observe a great rising trend which means our expectation happened correctly. In the present chart, R1 is the resistance area to mention and it expresses the unsuccessful attempts of price in order to rise. S1, S2, and S4 used to be the resistance areas. And finally at the bottom, S3 is a long-term support line in which the support of price at various points is clearly seen. We can observe that the price was in a rising trend when it broke S4 upward and could rise toward S1 but at some rejections, it faced a decline down to S3 line at which it received well supports and finally at its last point support, it experienced a notable rise toward higher amounts. The existence of some candles with shadows at R1 shows the pressure of sellers which made the price to fall again via two negative Marubozu Candles. Hence, it is fluctuating over S1 when it was supported there and we believe the price to have another increase by giving us more fixation and rising signs and then more increase is waiting for it up to R1; that is a good point for having your profits saved but wait for the price to reach this area and after retesting the market situation and the trend of the price, you can make sure of saving your profits. By the time we have the fluctuation of price over S1, we won’t have so much decline. Bear in mind that by the time the price loses the support at S1 and moves below this area, it faces more decline certainly toward S2. Our suggestion is less decline when the price is moving and fluctuating over S1 line. Please be cautious about various points and details and remember that for enjoying less risky trades. You can obtain every piece of information and details through our analyses and updates. So keep moving with us.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Good luck
TA practice:Trade 1:
Daily reaching FVG area and reversed below most recent highs.
Trade 2: Aggressive entry compounding my position to target VAL
*mindset: cascade and bearish order flow at resistance
HOW TO TRADE A CHANGE IN TREND WITH DOUBLE BOTTOM REVERSAL CHARTExplaining where the support level and how to find double bottom trend reversal patterns.
I find the support where the coin has been trading that is your support. I logged a double bottom and show the trend on the chart.
I posted the resistance level in which the price goes up then hasnt broken it.
I charted the massive breakout, and charted a massive breakout, I then put a box under that to show if the price retests the broken resistance, and goes up, this would be a great example of a bullish reversal, but the levels need to retest support then break back out. Excellant pattern if the price retests and goes back up which is called a bullish reversal, using double bottom trend reversal.
Rising Wedge Reversal Possible, zoom in on chartPurple Lines on Chart are the possible rising wedge that has formed on the 15min, 18min, 21min, 25min charts respectfully.
I use this chart on 5m, 8min, 10min, 12min,16min, 25min, 30min, 45min, if I were to trade during those times.
I really like the 1 hour time frame on this particular coin.
I am showing 4 major support areas, I included this time the Fib replacement tool.
I used 0, 28, 50, 61, 78, 100, 128 on that fib retracement tool.
I included a major support at levels 2.02
1st support of around 2.24
2nd support of around 2.30
3rd suport at around 2.33
I also included the major resistance at the area of the atl of past week of around 2.36
I included the 128 fib due to not alot of people actually using this tool at this level, I would definatly sell at that point if I was on a long, but a grea area to short, be careful of the swings
1st support 2nd support be mindful of the STOCH RSI as it will trick you, the chart shows just a perspective. I would add volumn to the chart as well, I use 3 different screens for any coin I look at. This one does not have it.
Enjoy I included a update as requested from a comment.
ChrisGtr Out
thanks enjoy your Wednesday
RNDR (Y23.P2.Video1). Bearish short term and here is whyHi traders,
My thoughts on RNDR and why this is a local top. However I do give conditions for potential more highs to occur and also why to be bearish in the short term.
Please give me a like and share,
Regards,
S.SAri
#LQR #TOBTC #RNDRimportant Support level are painted as green area
these red lines are Resistance you must add it to you'r watchlist.
RNDRUSDT: I'm waiting for a short 20%Disclaimer
High Risk Investment
Trading cryptocurrencies and Forex carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency and Forex trading, and seek advice from an independent financial advisor. Since Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. The Bibres will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed are owned by the respective writer and should never be considered as advice in any form.
A qualified professional should be consulted before making any financial decisions.
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RNDRUSDT at support, likely to reach 2.34Longed RNDRUSDT from the support zone. Expect it to reach 2.34 level.
#RNDRUSDTPERP | Short | Trade#RNDRUSDTPERP | Short | Trade
Entry Conditions
| Bearish Divergence
| Indicator Signal
| Room to move down before 20 Daily EMA is tested again
| Untested Weekly Pivot
rndrWe are in this box. It can break from any side, it can lead to a possible path. Downward and support lines, or the upward path that I am thinking of.
RNDRUSDT at resistance, a retrace likelyThe price has hit 4h resistance. I expect a pullback from here. Actually I am expecting more than a pullback. The price may slide to the next 4h support around 2.26 zone. Lets see how it develops. I will adjust the targets accordingly.
