Render (RNDR) price rose sharply on Thursday as the altcoin reacted higher on Nvidia earnings that crushed expectations. With hype around AI hitting a new high after another huge guidance from Nvidia, RNDR price looks poised for a retest of the key supply zone near $1.58.Demand for the Render technology cuts across gaming, metaverse, AI, NFTs, and VR narratives. These sectors are heavily tapping into GPU rendering. Some of the companies and crypto platforms working with the project include Cinema 4D, Nvidia, Solana, Mattel, and Metaplex.The price of Render’s native token jumped more than 10% in intraday trading to hit highs of $1.54. The upside saw the cryptocurrency come close to a weekly ceiling around $1.58 – likely the area to trigger further demand to $2.00. RNDR’s market cap was up 11% to over $564 million while 24-hour trading volume spiked 168% to over $44.6 million.A look at the RNDR/USD price on the 4-hour chart shows bulls have work to do if they are to push higher. The price is below the key technical area of $1.58, the range from which prices plummeted more than 8% on August 17. Although short-term momentum looks to favour buyers as suggested by the 4-hour MACD and RSI, the price needs to break above the highlighted hurdle to strengthen the bullish outlook. If price flips lower, immediate support is around $1.45 and then $1.40 (where the 20-day simple moving average is slightly upturned).Maker (MKR) crypto price jumped on Thursday as investors cheered the rising demand for the Dai stablecoin. The coin jumped to a high of $1,100, which was much higher than last Friday’s low of $978. Its recovery also coincided with the strong comeback of tech stocks following Nvidia’s earnings. MakerDAO is known for the Dai stablecoin, the 12th-biggest cryptocurrency and the third-biggest stablecoin in the world. Dai’s market cap has jumped by more than $1 billion in the past few weeks, giving support to MKR’s token.Render (RNDR) price rose sharply on Thursday as the altcoin reacted higher to Nvidia’s earnings that crushed expectations. The semiconductor giant reported a net income of $6.7 billion for the quarter ending July 30, which was 422% up on the same period a year ago. This triggered a sector-wide boost, with AI stocks and crypto AI tokens surging. Render, whose AI-powered blockchain technology targets the largely untapped GPU rendering market, could ride the Nvidia AI hype to greater adoption.The price of Render’s native token jumped more than 10% in intraday trading to hit highs of $1.54. The upside saw the cryptocurrency come close to a weekly ceiling around $1.58 – likely the area to trigger further demand to $2.00. A look at the RNDR/USD price on the 4-hour chart shows bulls have work to do if they are to push higher. The price is below the key technical area of $1.58, the range from which prices plummeted more than 8% on August 17. Although short-term momentum looks to favour buyers as suggested by the 4-hour MACD and RSI, the price needs to break above the highlighted hurdle to strengthen the bullish outlook.Maker (MKR) crypto price jumped on Thursday as investors cheered the rising demand for the Dai stablecoin. The coin jumped to a high of $1,100, which was much higher than last Friday’s low of $978. MakerDAO is known for the Dai stablecoin, the 12th-biggest cryptocurrency and the third-biggest stablecoin in the world. Dai’s market cap has jumped by more than $1 billion in the past few weeks, giving support to MKR’s token.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
positive |
| Relevance Score |
8 |
| People |
Nvidia, Mattel, Metaplex, Solana, Fetch.ai |
| Companies |
Nvidia, CoinGecko, Cinema 4D, Solana, Mattel, Metaplex, MakerDAO |
| Currencies |
Render (RNDR), Dai (DAI), Bitcoin (BTC), Ethereum (ETH), Maker (MKR) |
| Securities |
None |
