As an analyst with over two decades of experience in the tech and crypto markets, I find myself continually impressed by the rapid growth and innovation within the Render network. The recent release of their Cinema 4D Wizard tool is a testament to this, as it has the potential to revolutionize the media industry and drive adoption of the RENDER token.
As a crypto investor, I’m thrilled to see Render continuing its impressive bull run, recording an 11% surge according to CoinGecko. Although the market has experienced a minor dip, the overall picture remains optimistic with most major cryptocurrencies hitting their targets and displaying green figures. This upward trend can be attributed to the recent advancements within the Render network.
Fans of the network have observed ongoing growth since the launch of their Cinema 4D Wizard tool, a powerful asset in the media industry with great promise. This innovative tool allows artists to produce high-quality results swiftly by reducing work hours and enhancing work efficiency.
New Wizard Tool Shortens Artist Workflow
Last week, on August 20, Render unveiled the Cinema 4D Wizard, a tool designed to make life easier for 3D artists like myself. By using this plug-in, we can significantly reduce the time spent on our projects and optimize our workflows within the Cinema 4D application – one of the most commonly used software for 3D rendering.
As per Render’s data, this tool comes equipped with various characteristics at its launch. One of the standout features is the scene checker, which examines several aspects that could influence the final result. This function helps artists to refine their renderings, ensuring each element is in pristine condition.
— The Render Network (@rendernetwork) August 20, 2024
NVIDIA Earnings Might Push RENDER Higher
As an analyst focusing on the Render network, I’ve noticed that its emphasis on decentralized computing makes graphics cards the essential foundation for its position within the Decentralized Physical Infrastructure (DePIN) sector. With Nvidia’s upcoming earnings call approaching, the potential impact on RENDER’s price fluctuations over the coming weeks is significant.
On August 28th, it’s crucial for both investors and traders to keep a close eye on developments. Any favorable or unfavorable news could influence the token’s short-term performance when the date arrives. In the long run, the company’s expected next-generation AI chips may provide a significant boost for RENDER.
RENDER Exhausted After A Week Of Upward Momentum
Currently, the token’s advance has been halted at the $6.3 resistance, with a bearish candle emerging during today’s trades. This suggests a minor downturn in the near future due to a temporary loss of momentum by the RENDER bulls in the short term.
The token’s strong relative strength index suggests a fierce battle between buyers (bulls) and sellers (bears), with sellers currently holding an upper hand in the short term. However, RENDER’s potential correction phase might be brief. There is still excitement among investors and traders for Nvidia’s upcoming earnings call, which could extend this week into another bullish spell.
Currently, it’s advisable for bulls to concentrate on fortifying their stand and making the RENDER token move steadily within the $5.8 to $6.3 price zone. This area provides the best foundation for any potential upward trend. At this point, trying to regain lost ground in the near future may not be sufficient and could potentially offer bears a chance to exploit any momentum RENDER has to drive the price down from $5.8 to $5.3 over the short term.
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2024-08-25 18:04