Render, a market-leading AI and DePIN-focused cryptocurrency, has displayed significant relative strength recently, pumping over 20% this week.
However, a prominent market analyst has predicted much more upside could be on the horizon.
Render Could 5X as Bulls Defend $7 Resistance
Bulls and bears have grappled for control of Render’s $7 level for some weeks now.
Consequently, the price level holds technical significance to Render’s future trajectory, with Crypto Patel speculating that holding above could ignite a parabolic rally to the upside.
Render is currently trading at $9.8, having pumped 10% today, 25% this week, and 1.8% this month.
While its monthly performance may not look bullish, it’s important to consider the recent market-wide selloff, which Render has now effectively recovered from.
It holds a $3.8 billion market cap and a $353 million 24-hour trading volume, up 10% today.
Crypto Patel analyzed Render’s price on Saturday and backed it to hit $50, equating to more than a 5x from today’s price.
The analyst highlighted two support levels at $7 and $3.5 and alluded that a hold above $7 is highly bullish.
That said, he also warns that losing the $7 level could spell a drastic downside movement toward the $3.5-$4 mark.
Crypto Patel explained, “RNDR has gained 34x in a year and 10x in 7 months. However, it’s a high risk for new investments now.”
He continued, “If RNDR holds $7 support, it can reach new ATHs and aim for $50. But if $7 breaks, look for buying at $3.5-$4, a strong support level.”
Taking a shorter time frame outlook, prominent trader World Of Charts predicts Render could advance toward $15-$16 in the coming weeks.
The analyst highlighted that RNDR recently broke out of a bullish pennant chart pattern, a formation that typically ignites a reversal to the upside.
Indeed, based on its price chart, there’s no doubt that Render’s outlook is overwhelmingly bullish.
As per its website, Render provides a decentralized network of computing power for graphics rendering used by media, AI, AR, and VR programs.
Its position at the crux of numerous emerging fields has fueled its recent excitement, but another project that spans multiple trending narratives is 5th Scape, a presale which has raised $5.5 million so far.
Is 5th Scape the Next Big VR Crypto After Raising $5.5M at Presale?
5th Scape’s proximity in an emerging crypto narrative and impressive presale momentum both indicate a bright future.
It is a VR-centered ecosystem, providing hyper-realistic gaming experiences. There are a slew of games in the pipeline, starting with a mixed martial arts themed venture called Cage Conquest.
Following on, the team will release soccer, racing, cricket, and archery games.
In a bid to establish itself as an industry leader, 5th Scape is also developing proprietary VR headsets and gaming chairs. These will help deliver unparalleled heightened experiences with ergonomics and visual realism as top priorities.
The project’s $5.5 million total raise reflects deep-rooted investor interest surrounding its novel use case. However, expert analysts are also rallying in support.
In a recent YouTube video, prominent commentator Decrypt Crypto speculated that 100x gains are at play.
While gains of this magnitude are rare, they are much more possible in emerging fields like VR, which penetrate into untapped markets.
The current $5SCAPE presale price is $0.00327, but this will rise incrementally throughout the campaign. The next uptick will occur when the total raise hits $6.25 million.
What’s more, the scheduled exchange listing price is $0.01, a 205% markup.
