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FxWirePro- Render network (chart of the day)

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Sheena Jordan reporter

Mon, 23 Sep 2024, 10:00 am UTC

The Render Network® Provides Near Unlimited Decentralized GPU Computing Power For Next Generation 3D Content Creation. The Render Network allows GPU owners to monetize otherwise idle GPUs by offering their compute power to creators in search of rendering resources.

RNDRUSD prices surged more than 35% in the past 5 days. It hit a high of $6.18 and currently trading around $6.08. The pair is holding well above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).

The near-term resistance is around $6.60, any indicative breach above will take the pair to $7.25/$8. On the lower side, immediate support is $5.80, and any violation below target is $5.37/$5/$4.30.

Indicators ( 4- hour chart)

CCI(50)- Bullish

Directional movement index - Bullish

It is good to buy on dips around $5.40 with SL around $4.30 for TP of $7.25

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