Crypto Analyst highlights 90% potential upside for RENDER

• The analyst highlights a potential upside of 90% if RENDER holds above key levels with confirmed bullish signals.
• The recent sideways strength suggests the potential for bigger moves and surpassing ambitious goals.

In a tweet, popular crypto analyst Javon Marks noted that Render Network’s token, RENDER, is targeting the $7,843 mark, with confirmed bullish trends suggesting possible significant increases above that level.

Marks notes that a sustained hold above $7,843 could pave the way for gains towards around $15,338, reflecting a possible upside of 90% and possibly more. Furthermore, he saw the strength shown in RENDER’s recent sideways movements, which could allow the token to exceed even the highest expectations.

Meanwhile, reflecting a 3.24% profit in the last 24 hours ia 5.69% rise in the last 7 days, DISPLAYING switched hands around $7.61 at the time of writing. This success brought its market capitalization closer to the $4 billion mark.

RENDER is gaining momentum with increased liquidity and whale activity

According to the prior CNF reportCoinbase has added permanent futures contracts for RENDER in the third quarter of 2024, enhancing trading capabilities on its worldwide platform. This action helped RENDER to have more liquidity and affordability, thereby improving its position in the crypto space.

Furthermore, clearly demonstrating the growing usage and involvement in its ecosystem, the Render Network has seen a significant expansion of rendering services and active addresses.

In addition, whale activity around RENDER has recently increased. From 148,460 tokens, the massive transactions grew to a whopping 866,180 tokens. While this increase highlights increasing interest among institutional or high net worth investors, it may also cause price volatility to rise in the short term.

Strategic joint projects have further strengthened RENDER’s ecosystem. OTOY, the Rendering Network Foundation and the Blender Foundation announced in April 2024 a collaboration to bring Cycles’ native GPU ray tracing engine, Cycles, to the Rendering Network.

This project aims to give over two million Blender users free access to the Render Network’s scalable and powerful rendering tools.

Complementing their desired map of the future, Render network revealed in November 2024 plans to tap the computing capacity of 100 to 200 million Apple GPUs. This project aims to greatly increase the capacity of its dispersed network, making Rendering a major player in decentralized computing.