# [NFA]RNDR Analysis By [3HOUSE](https://paragraph.com/@3house) · 2023-04-03 --- Author: 3HOUSE user @Halo Fundamental =========== RNDR is a cryptocurrency that bridges GPUs across the world, It is the process of generating digital images or animations using blockchain technology. This process involves using the computing power of a blockchain network to render images or animations, which can be used in a variety of applications, including gaming, virtual reality and advertising. The mission of RNDR is to bridge the gap between GPU supply/demand through the use of distributed GPU computing. RNDR is built on the Ethereum \[ERC-20\] blockchain. It is used to pay for animations, motion graphics and VFX rendering on the RNDR network. By using OTOY’s Octane render, the network is capable of huge projects producing the best cinema quality work. Users can register their workstations on the network, where they will earn RNDR tokens for completing jobs. The concept of using blockchain technology for rendering is relatively new, but it has already gained significant attention in the tech industry. The main advantage of using blockchain technology for rendering is that it allows for highly decentralized and distributed processing of images and animations. This means that instead of relying on centralized servers or cloud computing providers, the rendering process can be distributed across a network of computers that are connected through a blockchain. This results in a more efficient, cost-effective, and secure rendering process that can be scaled up or down as needed. A quote from one of RNDR’s advisors, Brendan Eich: “This project will revolutionize the way that 3D assets and their respective digital rights are transferred and distributed across people and entities. OTOY is transforming their state-of-the-art expertise for rendering into a decentralized network that will cater to a wider audience”. Render promises three things, one: protect the rights of creators. Two, monetization and three, bringing power back to the individual. RNDR state that the internet has evolved, and it's become almost impossible for Independant artists to track their work. Blockchain technology and RNDR promise those three points listed. Their vision is to turn boring and slow distributed GPU compute power into a decentralized economy of connected 3D assets, where any object or environment can be authored, shared, remixed and monetized through the blockchain. One of the features not mentioned often that Render is capable of is its use of non-fungible tokens (NFTs). NFTs are unique digital assets that are stored on a blockchain and can be used to represent ownership of a particular image or animation. This allows artists and content creators to monetize their work by selling NFTs to collectors, who can then use them to access or display the corresponding image or animation. The use of NFTs also adds a layer of authenticity and provenance to digital artwork, which has traditionally been difficult to establish. With Render, artists can create unique and verifiable digital assets that can be easily tracked and traced on a blockchain, providing a new level of transparency and trust in the digital art world. In conclusion, RNDR is a cryptocurrency built on the ERC-20 blockchain. Its main goal is to bridge the gap between GPU supply/demand and provide fast and decentralized distributed CPU computing power. RNDR is always being updated and is one of the biggest breakthroughs in this industry. It is supported by huge names and many industries are using its power like, Architecture firms, gaming, nfts, virtual reality companies, advertising and many more. The community have noticed that Apple have shown viewers what appears to be the RNDR logo in a recent iPad pro commercial, and that got the community thinking, will we see companies like this using the network. It has a great community, and it continues to grow. But for now, we can watch as RNDR keeps developing and dominates this space! Technical analysis ------------------ Lets take a look at the overall market before jumping into RNDR analysis. We will look at BTC, S&P 500 and DXY. ![](https://storage.googleapis.com/papyrus_images/70297f75b45e53dc3cc825e2d8546491b158ffcb057b6bac5f4b1c7ee9620220.png) This image above shows us the S&P 500 INDEX, we have broken out of this wedge that we have been in for the past few months, and we have retested the breakout. We had a nice reaction and are making are way up to the high of the breakout once again. This for the crypto market is good and can add confluence to our trades. This gives us one bullish confluence to trade with. ![](https://storage.googleapis.com/papyrus_images/2e83c0741c8da705decbaede0f4abe705929e8e74b00d34e2e656493bd9c2ec3.png) As we can see we rejected a strong level on DXY, this is bad for us. But we have after rejected an order block that was created, and we are back to this level we originally rejected. I hope we can break below this level soon as the economy has started to do better. A break of this level would result in the crypto moving upwards again, therefore this is another bullish confluence to add to our trades. ![](https://storage.googleapis.com/papyrus_images/194adfdfea8fb8c96fd4b94d598484fdbae85be75a13b59cafa9abbf23285669.png) Looking at BTC heatmap we can locate where all the liquidity in the market is hiding. We this week took out the liquidity at 28.5k to 29k level. ![](https://storage.googleapis.com/papyrus_images/35301621878d327bac9d81bc8f7c47c0789c53ccce2e1a09fd535acd0956fe9e.png) We have this week rejected the top of this daily FVG, we saw a lump of liquidity at this level and there is a stacking amount of liquidity around the 25200 to 25900. This can be taken at any point. The market will need to retrace to the liquidity in order to move up, so short term we could see a bearish move, but this is good for us. ### RNDR ![](https://storage.googleapis.com/papyrus_images/83a8b5c7232869f830724f39553795cd9e1f692a7c017a9b1a49e70e4e89e186.png) Looking at this chart of RNDR we can see some strong key levels, one being at 0.87870 to 0.93095. This level is where we retraced back to after our 705% move to the upside from the low. We created imbalance and a daily FVG where price came to and rejected. We have a short opportunity that could come up and it looks like this: ![](https://storage.googleapis.com/papyrus_images/432735a361f9dcaaffabf6bebd96f1fc6a82d417cd6b783eeb1f8350739cff0c.png) We would aim for this 8H order block with an entry at the 1.47325 level. We would have our stop loss at the swing high of 1.59780. Take profits would be along the way with the first one being at 1.37335, a second one at 1.25350 and last one at 1.14780. This is one scenario that could play out here for RNDR, we need to keep watching BTC to see how it moves and we can use that as confluence. Now its hard to say when we could see it break above the swing high again but if are analysis is correct, we can see if when BTC retraces back and then goes to break new highs. We will need to watch DXY and S&P 500 closely this week ![](https://storage.googleapis.com/papyrus_images/5c2bf125c215fb43fd93622ebab37e3f1d22823c2b40e3f04efe7080b24267fa.png) A bullish scenario for us to follow would be price retracing down to this 12h FVG. We have seen price in this zone once already and I anticipate price to move to it again. This is where we will see an entry for a long position. Seeing price fall further than this level is slim. We would look to enter at the support level of 1.12250 with our stop loss at 0.99970. We would look to take profit along the way. Our first tp would be 1.37725, the second tp being at 1.58345 and a final one at 2.13985. If price falls further to the bottom of the FVG we would look to pick up a very good spot entry, but at this level if you do not want to overexpose your capital trade spot with no leverage. Key points of both trades: -------------------------- 1. At TP 1 take 25% of your position out and place your stop loss to break even! 2. At TP 2 take another 25-30% of your position out and place stop loss up so it's in profit 3. At TP 3 take the remaining position out of this trade! Overall, RNDR is a solid project; It has an experienced development team. As we can see it performs very well in past bull markets and had over a 705% pump from the low and since January this year, we have seen over a 400% rise. It is definitely a coin to have on your watchlist and in your portfolio. we will be able to see this coin go very high during the next Bullrun. Ultimately this is why we write these articles, to make sure everyone is prepared for when it comes around. This is not financial advice, trade at your own risk. **ABOUT 3HOUSE NFA** NFA is a showcase of the high-quality alpha shared on 3HOUSE and an opportunity for the development team to recognize and celebrate the well-researched and expertly-constructed predictions made by some of our 3HOUSE community members. **Important note:** Despite yielding positive returns for many investors, as the name states, NFA is Not Financial Advice and does not guarantee any results. NFA is merely to inform investors of potential market movements and general sentiment. Always do your own research. --- *Originally published on [3HOUSE](https://paragraph.com/@3house/nfa-rndr-analysis)*