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- $RENDER and $VIRTUAL have soared over 4% with the bullish momentum amid the turmoil in the crypto market
- $RENDER’s price is sitting above major short-term moving averages, including the 20-day and 50-day lines
- $VIRTUAL has also gained upward momentum after it broke above recent resistance levels
Amid the bearish conditions in the crypto market, $RENDER and $VIRTUAL have witnessed small spikes over the past 24 hours, sparking a discussion in the crypto community.
As of March 24, the $RENDER token is trading at around $1.75 after soaring 3.97% over the last 24 hours. Its market capitalization is approximately $910 million, while the 24-hour trading volume reaches around $98 million with a circulating supply of 518 million tokens, according to CoinMarketCap.
At the same time, Virtual Protocol token $VIRTUAL revolves around $0.725 following a 4.25% increase in the last day. The market capitalization for $VIRTUAL is $476 million, according to CoinMarketCap.
Technical Indicators Show Balanced Momentum for Both Tokens
Both tokens are showing a strong bullish momentum amid the turmoil in the crypto market, where major cryptocurrencies face a downward trend.
Technical indicators are suggesting that $RENDER is in a neutral to bullish setup in the short term. The price is currently holding above major short-term moving averages, including the 20-day and 50-day lines, which shows that buyers maintain control after the recent consolidation zone.
The Relative Strength Index (RSI) is revolving around the mid-50s level, which means that the token might avoid overbought conditions and create room for further upward momentum. On the chart, volume patterns are showing healthy participation on up days.
On the other hand, $VIRTUAL has recently broken above recent resistance levels on growing volume. The Relative Strength Index is remaining balanced, and the token trades near its upper Bollinger band. Amid the growing participation, the cryptocurrency is rapidly building strength for upward momentum.
For the same reason, oscillators are neutral across daily time frames for both assets and longer-term averages. These indicators are showing a steady accumulation, which is sparked by the AI boom.
$RENDER and $VIRTUAL Expand with Major Developments
$RENDER Network is actively working to expand its decentralized GPU infrastructure with new integrations that are directly associated with AI rendering tasks. The project has recently unveiled its plans linked to NVIDIA’s AI agent initiatives.
This expansion of the $RENDER Network is matching its compute power with enterprise-level demands for graphics and machine learning tasks. Its network activity is also showing constant growth in frames rendered and active GPU nodes. This comes at a time when the network is continuously working on the expansion of its compute subnet.
Apart from this, a new funding round of $100 million from leading venture firms has improved its financial stability.
Similarly, the Virtual Protocol is also working on its AI agent framework through various live integrations and incentive programs. The protocol launched a $1 million monthly renewed program to increase user engagement via autonomous agents.
There are new collaborations taking place on the network, which help it to bring agent commerce capabilities to chains such as XRP Ledger and BNB Chain. It allows AI agents to handle payments and transactions without human intervention.
Also Read: Monero (XMR) Price Falls by 5% Amid Surging Demand