Skip to content

‘Nvidia of crypto’ flashes buy signal; $200 on the horizon

‘Nvidia of crypto’ flashes buy signal; $200 on the horizon

With Render (RNDR) returning above the psychologically important price level at $10, cryptocurrency market experts have observed that the token, popularly referred to as ‘Nvidia (NASDAQ: NVDA) of crypto,’ has flashed buy signals that could kick it off to $200.

Specifically, after hitting a local bottom at $7, Render managed to gather bullish momentum last week that saw it advance over 27% during that period and cross the $10 level, gaining nearly 10% on the day, according to the most recent chart data obtained by Finbold on May 6.

Render price 24-hour chart. Source: Finbold
Render price 24-hour chart. Source: Finbold

Bullish signs for ‘Nvidia of crypto’

At the same time, Render’s recent gains have coincided with the artificial intelligence (AI) token’s growing number of crypto wallets and the relative strength index (RSI) increasing and breaking the 53 zone, a bullish sign earlier predicted by Crypto Devil in mid-April.

Render price action prediction from mid-April. Source: Crypto Devil
Render price action prediction from mid-April. Source: Crypto Devil

Meanwhile, Mister Crypto, a pseudonymous professional crypto trader with a massive following on social media platform X, has noticed Render’s bullish price action and has suggested that Render might hit a new all-time high (ATH) of $200 in this cycle, according to the X post on May 5.

AI events trigger bullishness

Notably, after sluggish price movements last month that saw Render decline a whopping 30% in a single month, the slew of upcoming AI events has triggered a bullish sentiment that has also seen other AI tokens wake up, also including the likes of Fetch.ai (FET), SingularityNET (AGIX), and others.

Indeed, these events include the Enterprise Generative AI Summit in California on May 21, the Tech & AI LIVE in London on the same day, and many more, as the revival of interest in AI technology sweeps multiple regions around the world and might usher more gains for AI assets like the ‘Nvidia of crypto.’

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.