Render (RNDR) Retraces 4%, Creating New Investment Opportunity Amidst Whale Confidence

Render (RNDR) experienced a brief 4% price retracement today due to profit-taking by a significant investor. However, this presents a potential buying opportunity for new investors as the price retraces. Whale 0x1Cb’s transfer of 265,000 RNDR, valued at $2.78 million, to Binance shows confidence in the token’s liquidity.

Render Price Slips As Whale Offloads $3M RNDR, What’s Next?
The top AI coin, Render (RNDR) price dropped 4% after a major investor sold $3 million in tokens, but optimism remains for future gains amid upcoming tech sector events.https://t.co/68ilG0Qy9w

— baloblack (@baloblack) May 20, 2024

This investor still holds 100,000 RNDR, worth about $1.1 million, underscoring continued faith in RNDR. Additionally, other major holders have capitalized on RNDR’s recent price rise, with six whales transferring 7.16 million RNDR tokens, valued at $77.9 million, to exchanges and securing around $61 million in profits. Despite the recent sell-offs, many investors are optimistic about RNDR’s future, especially with upcoming technological advancements.

Key Render Levels To Watch – May 20

The market is currently in the premium zone of its trading range. RNDRUSD seems to be declining downward in a bid to make a downward correction.
 
Despite the ongoing pullback, the overall trend on the daily chart is bullish. Once the major trendline is hit at the discount zone, RNDRUSD is likely to resume its bullish trend.

RNDR Key Levels

Resistance Levels: $11.580, $12.020, $13.630
Support Levels: $8.1220, $5.680, $3.370

Render Metrics

Total Market Capitalization: $2.42T
Render Market Capitalization: $3.97B
Render Volume: $294.07M
Market Rank: #26

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