Render, Enjin, & 5th Scape See Gains as VR Tokens Turn Bullish
Virtual reality (VR) cryptocurrencies are heating up, with tokens like Render (RNDR) and Enjin (ENJ) seeing bullish momentum.
Alongside these established projects, presale sensation 5th Scape (5SCAPE) is also gaining traction – and being touted as the next hot VR crypto to watch.
Render Rallies 4% as VR Token Tests Key Support
Render has been one of the top VR cryptos catching traders’ attention, up 4% from yesterday’s lows to trade around $9.48.
The price spike looked even more impressive earlier today, with RNDR up as much as 9% before pulling back in the last few hours.
Despite the recent volatility, the token seems to have found support at $9.20 – a level it also bounced off on March 7.
Interestingly, the last time RNDR touched that support, it sparked a 40% rally over the next several days as buyers took control.
RNDR may face some major hurdles before mounting a bigger run.
The token is still below its 20-day exponential moving average (EMA) on both the 4-hour and daily charts, meaning rallies could be limited in the near term.
But with VR projects firmly back in the spotlight, any decisive move above those EMAs could quickly attract fresh bullish momentum.
Enjin Surges 5%, Reclaims $0.44 as VR Crypto Rally Intensifies
Enjin is also feeling the VR love, up 5% from yesterday’s lows to trade at $0.441 at the time of writing.
Like RNDR, ENJ was up even more earlier today, yet profit-taking has prompted a minor dip.
The good news is that ENJ has managed to sustain itself above the $0.440 level, which acted as stiff resistance yesterday.
ENJ’s ability to reclaim that area as support could be a bullish signal for traders.
The level had already been tapped twice in March, and when ENJ broke below earlier this week, many believed that a more significant decline was on the cards.
However, the swift recovery suggests that the bulls are still very much in control, at least for now.
But where could ENJ head if the momentum persists?
The psychologically important $0.50 is one potential target for bulls, which would mark a 13% rally from current levels.
ENJ will likely face some resistance as it approaches this level, but a clean break above could unleash even more buying pressure from traders sitting on the sidelines.
5th Scape’s $3.6M Presale Puts VR Crypto Project in Spotlight Ahead of Exchange Listings
While Render and Enjin are grabbing attention, another project called 5th Scape is creating its own buzz – and investors are taking notice.
As outlined in the project’s whitepaper, 5th Scape has an ambitious vision to create the crypto market’s first comprehensive VR and AR ecosystem.
From cutting-edge hardware like the VR Ultra headset and SwiftScape VR Chair to a library of immersive games, 5th Scape aims to push the boundaries of what’s possible.
At the heart of this virtual ecosystem is the 5SCAPE token, which will serve as the universal currency across all games, products, and even the developer marketplace.
5SCAPE holders will enjoy perks like discounts, free access to VR content, and voting rights on fund allocation.
And if the project’s presale is any indication, 5th Scape’s team may be tapping into something big.
Over $3.6 million has already been raised from investors worldwide who want to secure 5SCAPE tokens at the discounted price of $0.00248.
With a fixed supply of 5.2 billion tokens and a massive $15 million fundraising target, the hype is building fast.
Adding to the project’s credibility, 5th Scape has undergone a rigorous audit by blockchain experts Coinsult and secured verification from leading KYC provider SolidProof.
With these boxes ticked and presale interest growing, 5th Scape is a VR project to keep a close eye on.
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