Render price gains 28% as bullish trend continues

Render (CRYPTO:RNDR) has experienced significant growth, with its price increasing by 28% over the past month.

This rise has positioned RNDR as the third-largest artificial intelligence (AI) coin by market capitalisation, following FET (CRYPTO:FET) and TAO (CRYPTO:TAO).

Indicators suggest that the coin's bullish momentum could persist, supported by increased social activity and strong technical signals.

In recent days, RNDR has moved to second place in social dominance among the top five AI coins, reflecting heightened discussions and investor interest.

According to data from Santiment, the coin’s social activity has nearly doubled over the past week.

This surge in attention aligns with RNDR’s nearly 40% price increase during the same period, placing it as the second-best performer in the AI coin sector, trailing only AIOZ Network (CRYPTO:AIOZ), which saw a 73% rise.

Technical analysis shows that RNDR’s BBTrend, a metric that gauges momentum in relation to Bollinger Bands, reached a monthly high of 12.7 on November 10.

A positive BBTrend value typically indicates strong bullish momentum.

Following this peak, RNDR’s BBTrend fell to 1.17, showing a reduction in momentum.

However, it has since rebounded to 4.83, suggesting a renewed but moderate uptick in positive momentum.

The current recovery in BBTrend may signal increasing buying interest.

If this trend continues and positive sentiment remains, further gains could be seen.

Despite fluctuations, RNDR’s consistent performance underscores its growing presence in the AI coin market and highlights investor interest in projects with strong fundamentals.

RNDR’s recent growth also places it ahead of other notable AI projects such as TAO, FET, and WLD (CRYPTO:WLD), emphasising its competitive position and potential for continued momentum.

At the time of reporting, the Render (RENDER) price was $6.73.