Render continues its upward trajectory with an impressive 11% increase as shown. Queen GeckoAlthough the market is down a bit, the majority of it is still lighting up in the green with Major Cryptocurrencies These companies have achieved their own goals. However, recent developments in the Render Network have made this upward trajectory possible.
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Fans of the network continue to see growth after the platform launched the Cinema 4D Wizard tool, which sees huge potential in the media industry. This new tool helps artists achieve top-notch output while reducing work hours and streamlining workflows.
New Wizard Tool Shortens Artist Workflow
Makes released Cinema 4D Wizard was released last week, August 20, to help 3D artists reduce work time and streamline their workflow. This add-on works on top of Cinema 4D, one of the most widely used 3D rendering software.
According to Render’s Knowledge baseThe tool has several features when running, most notably a scene inspection tool that analyzes many factors that may affect the final output. This helps artists clean up their renders, making sure each piece is in tip-top shape.
— Render Network (@rendernetwork) August 20, 2024
NVIDIA RENDER EARNINGS COULD PUSH UP
With the Render Network focusing on decentralized computing, graphics cards form the backbone of the platform’s position in the decentralized physical infrastructure (DePIN) industry. Nvidia’s upcoming earnings call will influence RENDER price action in the coming weeks.
August 28 This will be the date that investors and traders should watch. Any positive or negative news will impact the token’s performance once D-Day arrives. However, the company’s expected next-generation AI chips could give RENDER a boost in the long run.
RENDER Exhausted after a week of upward momentum
At the time of writing, the token was rejected by the $6.3 resistance level as a red candle was formed in today’s trading activity. This represents a slight decline in the coming days as RENDER bulls are losing their momentum in the near term.
The coin’s high RSI indicates a strong struggle between bulls and bears, with the latter currently winning in the short term. The RENDER correction period may have started, but it won’t last long. Investors and traders are still waiting for Nvidia’s earnings call that could turn the correction into another week of upside.
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For now, bullish investors should focus on consolidating their position and consolidating the token’s movement between the $5.8-6.3 price range, as this will be their strongest platform for any upward movement. Any attempt to regain the lost ground in the near term will not be enough and may give bearish investors an opportunity to exploit the slight momentum that RENDER has to break through $5.8-5.3 in the near term.
Featured image from Medium, chart from TradingView
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