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Render Holds Key Support After 29% Drop, Analyst Targets $12

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Render (RENDER) is currently trading above a crucial support level following a substantial 29% decline from its recent highs. Amidst widespread market selling pressure, Render’s ability to maintain this technical level could set the stage for a significant price surge in the coming weeks.

As the broader market experiences turbulence, Render stands out for its resilience at this pivotal point. Analysts and traders are closely monitoring the situation, with one chart expert offering a bold prediction for the altcoin trajectory over the next few months. If the support level holds firm, the price could see an aggressive upward movement, making it a critical asset to watch for potential gains.

Render Looks Past $11 

As the market undergoes another correction since its highs in March, traders and investors are adjusting their positions for the upcoming months, with many optimistic about Render’s potential. Amidst this market volatility, it has captured significant attention due to its performance and potential for substantial returns. Top charting analyst Marco Polo recently shared on X an analysis that highlights Render’s recent bottoming out on August 5. Polo’s projection indicates that the price could reach $11.88 by the end of the year, which is a critical resistance level.

Render $11.7 price target.
Render $11.7 price target. | Source: Marco Polo on X RNDRUSDT chart on TradingView

Polo’s analysis suggests that once Render starts its uptrend, the movement is expected to be both aggressive and rapid. This rapid ascent could present challenges for retail investors trying to enter the market early. The anticipated surge may create a situation where the price gains momentum quickly, making it difficult for those who are not already positioned to take advantage of the initial stages of the rally.

The current market dynamics, coupled with Polo’s bullish forecast, suggest that Render could be poised for significant gains if it continues to hold above its key support levels. Traders and investors are closely monitoring the price, positioning themselves in anticipation of a potential breakout. As it approaches crucial resistance levels, the market will focus on its ability to sustain its technical strength and capitalize on the anticipated uptrend.

Technical Levels To Watch 

Render is currently trading at $5.27, maintaining its position above the 4-hour 200 moving average (MA) of $5.10. This key technical indicator is crucial for assessing price strength, as it often signals support when respected.

Render testing 4H 200 MA as support.
Render testing 4H 200 MA as support. | Source: RNDRUSD chart on TradingView

After a brief dip below this moving average for a few hours, the price has since recovered and is now trading above it again. This recent price action suggests that a potential move toward higher prices could be on the horizon in the coming days.

Should the price fail to hold the 4-hour 200 MA as support, the next critical level to watch is around $4.63. This level would be the next point of testing if the current support fails, potentially indicating further downside.

Traders should closely monitor the price action around these levels, as holding above the 200 MA could signal continued bullish momentum, while a drop below could prompt a deeper correction.

Featured image from Shutterstock, chart from TradingView



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Bonk Whale Becomes A Huge GoodEgg Early Investor Experts Predicts 100x In Coming

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As the cryptocurrency market evolves, it’s becoming evident that hype alone can’t sustain a token’s value. This realization has led some of the largest Bonk (BONK) holders, known as “whales,” to diversify their portfolios by investing in GoodEgg (GEGG). Experts are now predicting a potential 100x return on GoodEgg (GEGG), with some of the most prominent Bonk (BONK) whales taking early positions in the token’s presale.

More Than A Memecoin: Bonk Whale Shift to GEGG

One of the largest Bonk (BONK) holders, previously known for their substantial investments in the meme coin space, has recently made headlines by becoming an early investor in GoodEgg (GEGG). This shift comes as Bonk (BONK) continues to face declining momentum, losing 2% in value over the last 24 hours, with weekly losses stacking up to 10%. The whale’s move reflects a growing sentiment that the current meme coin market is becoming oversaturated, with investors searching for projects that offer more than just speculative gains.

Bonk (BONK), once a rising star on the Solana network, has seen a significant reduction in trading volume, and many analysts believe that its future will depend heavily on finding new utility or partnerships to maintain investor interest. While the Bonk (BONK) community remains hopeful, the shift of whales to projects like GoodEgg (GEGG) highlights a growing trend among larger investors who prioritize long-term growth over short-term gains.

GoodEgg’s Strong Fundamentals

In contrast, GoodEgg (GEGG) offers more than just hype. It is a utility-driven project with an AI-based dating platform that leverages blockchain for security and privacy. The project’s innovative approach to online dating has sparked interest from investors who see it as a real-world solution with significant potential for user adoption.

GoodEgg’s presale has already raised over $495,000, showing that investors are eager to get in early on this project. The platform’s combination of blockchain security and AI matching technology provides a fresh approach in a saturated online dating market, which is expected to grow significantly in the coming years.

Experts Predict 100x Gains and Long-Term Scalability

Market analysts are now predicting that GoodEgg (GEGG) has the potential to generate 100x returns for early investors, particularly as its platform begins to attract more users and integrates additional features. The scalability of GoodEgg (GEGG) in the dating industry, combined with its AI-driven capabilities, gives it an edge over traditional meme coins like Bonk (BONK).

While Bonk (BONK) struggles to maintain its market position, GoodEgg (GEGG) is gaining traction among both retail and institutional investors. The whale’s entry into GoodEgg (GEGG) has further validated the project’s potential, with many now looking at it as the next big thing in the crypto space.

As the presale continues, those who missed out on Bonk (BONK) during its early days are now looking at GoodEgg (GEGG) as their next opportunity for massive gains. With strong fundamentals and a clear roadmap, GoodEgg (GEGG) is positioned to become a major player in the crypto market, leaving Bonk (BONK) in the dust as it builds a long-term, sustainable future.

Join GoodEgg (GEGG) For More Information On Presale, Use links below to join our community: 

Visit GoodEgg (GEGG)

Telegram: https://t.me/GEGG_OFFICIAL

X/Twitter: https://x.com/GoodEggToken

 



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Solana Coins MEW & FIDA Prices Surge Over 25% On Major Listings

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FIDA and MEW, cryptocurrencies based on the Solana blockchain, saw noteworthy positive sentiment on Thursday as they secured vital listings. Solana Name Service (FIDA) secured a listing on Binance, whereas cat in a dogs world (MEW) scored a listing on Upbit. These listings have garnered significant attention globally as the tokens’ prices skyrocketed 25%-30% in tandem with the announcement.

Solana Tokens FIDA & MEW Secure Vital Listings On Binance & Upbit

According to official announcements by the mentioned exchanges on September 19, both the tokens are set to witness particular listings today. As per Binance’s official announcement, the crypto exchange is set to launch FIDAUSDT USD-Margined perpetual contract today at 12:30 UTC. Simultaneously, Upbit’s announcement revealed that it listed MEW with BTC and USDT pairs on the same day.

Intriguingly, Binance revealed that it listed FIDA with up to 75x leverage for users on the platform. Further, the crypto exchange set the capped funding rate at +2.00% / -2.00%.

Simultaneously, Upbit Korea listed cat in a dogs world within BTC and USDT markets. The Asian crypto exchange revealed that it will also add transaction support starting today.

The Solana coins listings have primarily sparked market optimism over future movements, paving the way for new money inflow into the tokens.

Tokens’ Prices Rocket Over 25%

Simultaneously, FIDA price gained nearly 45% against the backdrop of Binance’s listing announcement. The coin rested at $0.3243 today with an intraday low and high of $0.2204 and $0.3297, respectively.

Similarly, MEW price pumped nearly 26% to reach $0.00533 riding the back of Upbit listing. The coin’s 24-hour low and high were $0.00407 and $0.005728, respectively.

Meanwhile, the rising price action primarily aligns with today’s listing announcements, as seen with numerous tokens previously. CoinGape Media reported Kadena (KDA) price surged nearly 30% with its futures listing on Binance.

Also, another report reveals that PEPE and BRETT prices pumped notably on their listings on Upbit. Altogether, the exchanges’ listings rationalize today’s massive price gains.

Simultaneously, Coinglass data illustrated an 82% surge in MEW’s futures OI to $76.31 million. Additionally, the coin’s derivatives volume skyrocketed 531% to $735.63 million today. This surge has projected further optimism for the Solana-based token. Also, it’s worth noting that Solana (SOL) price upsurged 8% to trade at $140 today.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ripple Partner SBI Confirms Participation in BIS Project Agora

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XRP News: Ripple-partner SBI Holdings has confirmed participation in Project Agora, a joint initiative led by the Bank for International Settlements (BIS) and seven central banks. XRP community reacted to the development due to speculation of potential integration or alignment for the cross-border payments over a unified ledger initiative.

Ripple Partner SBI Reveals Participation in BIS-Led Project Agora

In a press release on September 19, SBI Holdings revealed participation by the bank in Project Agora. Ripple’s partner participation the initiative brings XRP in the spotlight as the bank is a key partner for XRP and XRP Ledger adoption.

Project Agora is an initiative jointly led by the Bank for International Settlements (BIS) and central banks to improve the functionality of cross-border transactions through tokenization. The central banks are Banque de France, the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York.

“Through this project, we hope to improve the functionality of the financial system while maintaining the two-tiered structure of central bank money and private bank deposits, and provide new solutions that utilize smart contracts and programmability, thereby providing highly convenient services in cross-border transactions.”

The BIS/SWIFT-led initiative uses digital tokens representing assets, on a unified ledger, with smart contracts. The Institute of International Finance has convened 41 private sector institutions such as JPMorgan, Standard Chartered, Sygnum Bank, Visa, Mastercard, Citi, and HSBC.

XRP News: Token and XRPL In the Spotlight

While the initiative to revolutionize cross-border payments through tokenization doesn’t specifically mention XRP and XRP Ledger, the community believes Ripple’s technology aligns with Agora Project.

Ripple has focused on exploring the possibilities of tokenization on the XRP Ledger. In June, the company partnered with Archax to bring tokenized real-world assets (RWA) onto the XRP Ledger.

Moreover, the unified ledger concept resonates with Ripple’s Interledger Protocol (ILP), which connects banks and blockchains. This suggests a potential role for Ripple’s technology in the framework, if not XRP directly.

XRP community claims Ripple and BIS and several central banks have collaborated earlier for developments including central bank digital currencies (CBDC). Currently, Ripple CEO Brad Garlinghouse said that the company is seeking adoption in traditional finance.

XRP price jumped 2% in the past 24 hours, with the price currently trading at $0.58. The 24-hour low and high are $0.563 and $0.589, respectively. Furthermore, the trading volume has increased by 25% in the last 24 hours, indicating a rise in interest among traders.

Notably, Ripple is also a leader in remittance. If it captures 50% of the global remittance market, which is projected to reach $11.53 trillion in 2024 and $16.59 trillion by 2028, XRP price could even hit $5.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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