Render

2024

Secure

Coin

<p>Most of the crypto market is on the recovery track. However, the Render (RNDR) price chart still shows red bars and other bearish cues.</p> 
<p><a href="https://www.thecoinrepublic.com/price-prediction/render/">Render</a> token underperformed other top AI crypots in the last few weeks. The token’s MVRV ratio declined, which is a bearish signal.</p> 
<p>A recent recovery from the $3 mark set the stage for RNDR bulls to cover the losses, but due to lack of buying pressure, it started consolidating and hovering around the 20 day EMA mark.</p> 
<p>This means that buyers are not confident. The increase in trading volume during the price drop suggests that sellers are eyeing to breach the $4 mark soon.</p> 
<p>At press time, RNDR was trading at $4.60 with an intraday drop of 1.90%, reflecting bearish cues on the charts. It has a monthly return ratio of -22.30% and 170.20% yearly, reflecting a short term bearish trend.</p> 
<h2 class="wp-block-heading" id="h-render-rndr-price-looks-bearish-can-rndr-bulls-secure-4"><strong>Render (RNDR) Price Looks Bearish: Can RNDR Bulls Secure $4?</strong></h2> 
<p>The daily chart depicts bearish cues, as the token is in a downtrend, trading below the key moving averages. Trading inside a declining channel, it persisted in displaying the lower low ticks.</p> <iframe loading="lazy" title="Santiment Chart: Price (RENDER), Volume (RENDER)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ordi&amp;pt=ORDI&amp;df=2024-02-13T18%3A29%3A59.649Z&amp;dt=2024-08-13T18%3A29%3A59.649Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Brender%3BRENDER%5D%3B%5B1%3Bvolume_usd%3Brender%3BRENDER%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The Relative Strength Index (RSI) line is currently at 36, reflecting neutral to slightly bearish sentiments. Hovering in the bearish region , it represents that the selling pressure is greater than the buying pressure.</p> 
<p>Likewise, the MACD indicator showed a bearish crossover. The MACD line is at -0.087, below the signal line at -0.120, implying bearish momentum.&nbsp;</p> 
<p>@Crypto Patel in his tweet said that, RNDR has shown a recovery from its bottom mark of $3 and can go upward.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">RNDR/USDT Bullish Analysis Toward $50 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RNDR</a> has taken a hit, dropping 75% from its recent peak, but it's now trading around $4.58 and has made a strong recovery from the $3 support level.<br><br>Key Buying Zones:<br>Entry 1: $4 – $3.5<br>Entry 2: $2 – $1.7<br>Target: $50<br><br>If RNDR can hold… <a href="https://t.co/ytL5mul0U0">pic.twitter.com/ytL5mul0U0</a></p>— Crypto Patel (@CryptoPatel) <a href="https://twitter.com/CryptoPatel/status/1823236790129451357?ref_src=twsrc%5Etfw">August 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>The token is in the bears’ grip, reflecting sustained bearish pressure. The crypto asset could soon revisit the $4 mark, the support level.</p> 
<h2 class="wp-block-heading" id="h-on-chain-metrics-suggest-negative-outlook"><strong>On-Chain Metrics Suggest Negative Outlook</strong></h2> 
<p>Sustained selling pressure pushed the weighted sentiment data to -0.332, reflecting negative investor sentiment.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (RENDER), Development Activity (RENDER)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ordi&amp;pt=ORDI&amp;df=2024-02-13T18%3A29%3A59.649Z&amp;dt=2024-08-13T18%3A29%3A59.649Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_volume_consumed_total%3Brender%3BRENDER%5D%3B%5B1%3Bdev_activity%3Brender%3BRENDER%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D" scrolling="no"></iframe> 
<p>Similarly, the development activity data indicated a negative outlook as the value dipped to the 0.048 mark.</p> 
<h2 class="wp-block-heading" id="h-total-liquidation-chart-outlook"><strong>Total Liquidation Chart Outlook</strong></h2> 
<p>Amid the significant price downtick, the short liquidations were noted at $27.2k, whereas the long liquidations were noted at $68.27k, which signifies signs of bearish trend.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="273" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119-1024x273.png" alt="Liquidation Chart&nbsp; Source: Coinglass" class="wp-image-661609" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119-1024x273.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119-300x80.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119-768x205.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119-150x40.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119-696x186.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119-1068x285.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-119.png 1419w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Liquidation Chart&nbsp; Source: Coinglass
 </figcaption>
</figure> 
<p>The futures Open Interest (OI) fell 5.37% to $19.28 Million, indicating that buyers panicked and unwinded their long positions.</p> 
<p>Sustained bearish pressure could drop RNDR to the $4 mark, followed by the $3.50 in the short term.</p> 
<p>On the other hand, if the token succeeds to sustain beyond the $5 mark, it may ascend the recovery toward the $5.60 followed by the $6 mark ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/13/render-rndr-price-in-bearish-water-more-losses-to-come/">Render (RNDR) Price in Bearish Water: More Losses to Come?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Render (RNDR) Price in Bearish Water: More Losses to Come?

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