Render (RNDR) price plunge looms amid investor exits. Render (RNDR) faces a price downturn as investor sentiment weakens. Active addresses, reflecting network participation, plummeted from 3,530 to 1,580 within a week.
JUST IN: Indicators Show Render (RNDR) Price May Lose Its $10 Support
— Crypto Chiefs News (@CryptoChiefNews) April 2, 2024
This exodus signals investors’ anticipation of deeper losses, prompting them to withdraw until recovery initiates. Moreover, analysis reveals profit-taking tendencies among RNDR holders. Approximately 77% remain at break-even, while 21% observe profits. Their actions imply a desire to cash in before the potential price declines. Should this selling pressure escalate, Render’s price is poised to endure additional bearish trends.
Key Render Levels To Watch – April 3
The market’s order flow was bullish as prices rallied alongside a rising trendline. However, the recent CHoCH (Change of Character) reveals the intention of the bears to drag prices lower.
Following the recent liquidity grab below $9.1820, RNDR heads upward. Price seems to be making a pullback into the bearish order block at the premium zone. The bearish trend is likely to resume once the order block is reached.
RNDR Key Levels
Resistance Levels: $10.1750, $12.0200, $13.6290
Support Levels: $5.6800, $3.3740, $1.2940
Render Metrics
Total Market Capitalization: $2.46T
Render Market Capitalization: $3.53B
Render Volume: $292M
Market Rank: #35
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