Render Network shows potential recovery signs after sustained bearish pressure, with its RNDR token trading near $1.70. Strong buying interest has been observed near the $1.00 support level. A breakout above the critical $2.16 resistance could open a path toward $4.00, according to a crypto analyst. The network’s evolution is driven by the RNP-023 proposal, which integrates the Salad application as a specialized subnet and shifts payments on-chain using RENDER tokens.
Render’s RNP-023 proposal enables the integration of Salad as a specialized subnet and shifts payments and rewards on-chain. By tapping into an infrastructure of 60,000 GPUs, this expansion aims to generate millions in new revenue and utilizes the Burn-and-Mint Equilibrium model.
RENDER is currently trading below the 216-day EMA but shows steady recovery from a $1.000 support floor. Recent price action suggests the market is attempting a significant structural shift, with rising volume indicating accumulation.
A crypto analyst stated that a daily close above $2.169 would signify a major change in trend. Conversely, a fall below $1.250 would indicate a break in the current recovery trend.
From a technical point of view, the RSI indicator shows the price is in a neutral zone and has lost momentum. The MACD histogram is decreasing, indicating the bull momentum is dying off fast.
If successful, the RNP-023 integration could establishRender Network as a significant player in decentralized AI infrastructure. This development could be beneficial for the value of the RNDR token by solidifying its position in the expanding market for AI and GPU compute.
