Render Price Prediction as RNDR Blasts Up 20% – Will the Launch of Apple's VR Headset Boost Metaverse Tokens?
The Render price has surged by 20% in the past 24 hours, with the cryptocurrency benefitting from the news yesterday that Apple will reveal its long-awaited VR headset on June 5.
At $2.36, RNDR has also risen by 38% in a week and by 18% in the last 30 days, with the altcoin also rising by more than 480% since the beginning of the year.
Because the Render blockchain is used to provide a decentralized GPU network that will have applications in virtual reality and the metaverse, the market expectation is that the launch of Apple's VR headset will ultimately increase adoption for Render.
And with Render recently launching a version of its app for iPads, there's a very real chance that developers for Apple's new headset could end up using the Render network, boosting RNDR's price considerably.
RNDR's chart provides a fairly clear indication that the token is in full breakout mode, with its indicators all suggesting that it may be the near the peak of its current rally.
In particular, its relative strength index (purple) surged to 80 earlier this morning, something which generally suggests an asset is overbought.
Still, momentum remains high, with RNDR's 30-day moving average (yellow) racing strongly above its 200-day average (blue), indicating that its rally may still have plenty of time left to run.
What's encouraging in this respect is that the altcoin has stuck to new support levels today, signalling that it will consolidate around a higher price.
And as we noted above, its rally is largely due to anticipation surrounding Apple's reveal of its VR headset, whch is expected on June 5.
The reason why RNDR in particular is responding to this news is that Render's parent company launched OctaneX in December, an app for M1 and M2
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