Render Price Forecast: $30 Within Reach as RENDER Approaches $10

Highlights:

• Render price is in a breakout after a 9-day consolidation
• Rally paves the way for a rally to $10 in the short term
• A strong use case and a bullish broader market puts Render on course to $30 or more

The cryptocurrency is in the green today after a slow day on Thanksgiving Day. Bitcoin is up strongly and is uplifting the broader market with it. Render is one of the top altcoins that are leading the way in gains. When going to press, Render was trading at $8.88, up by 9.76% in the day.

Trading volumes are on the rise for Render as well, up by 22.25% in the day to stand at $1.12 billion. All this points to the rising investor expectations that as the crypto regains the momentum that pushed Bitcoin to $99k. The rising investor expectations around Render are not without basis.

Render Price Boosted by Strong Use Case

The cryptocurrency market has lots of coins and tokens that have no real use case in the real world. This means they only derive their value from speculation, which may not be sustainable long term. It means cryptocurrencies that have a real use case could see a surge in money flow both from short-term speculators and long-term investors. Render easily stands out on this front.

Yesterday, November 28, the Render team took to X to ask the community how Render had impacted their work. The post led to multiple replies all of which pointed to how Render was making life a lot easier for creatives.

One of the replies touched on how Render outperformed other top platforms when it came to 24,000 by 12,0000 rendering. Another reply pointed to cost-efficiency when using Render for their workflow. The reply added that by using Render, they could save time, which could now go into the creative aspect of their work.

Q. How has @RenderNetwork impacted your workflow and the quality of your art @annibale_sic? pic.twitter.com/QZMvYdmjvk

— The Render Network (@rendernetwork) November 28, 2024

All this points to a cryptocurrency with a strong use case, a factor that could play a role in drawing in both retail and institutional money into Render. This may explain why there is rising FOMO around Render as the broader market gains bullish momentum.

The Hype Around AI Cryptocurrencies is Still Strong

However, it’s not just the strong use case and adoption that is giving Render traction. Even for speculative short-term investors, Render still makes a lot of sense to hold. That’s because Render is in one of the markets that are drawing in a lot of hype this cycle. Render is often classified among AI cryptocurrencies.

Despite the slowdown in hype around AI, it is still a big narrative, one that will see relevant cryptocurrencies gain traction this bull cycle. This ability to draw speculative investors on top of the big use case that is drawing in long-term adoption is a big deal. It could play a major role in pushing Render price to new heights once alt-season starts.

Technical Analysis – Render Price in a Breakout as Bulls Take Control

Render’s charts are already pointing to a potentially strong move coming soon. On the day chart, for instance, Render is in a bullish breakout. This is after a consolidation between the $8.0096 resistance and $7.324 support. The breakout now puts the $10 psychological resistance in focus in the short term.

A rally through this level could pave the way for a Render price rally to prices as high as $30 or more in the short term. Such price targets are realistic considering Render’s strong use case, and its low circulating supply of 517 million. Render’s current market cap is also quite low, standing at $4.6 billion, and makes the case for a Render to $30 or even higher prices.