CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2025-03-09 06:56:51

RENDER Price Poised for 30% Drop? Bearish Pattern Spotted

The post RENDER Price Poised for 30% Drop? Bearish Pattern Spotted appeared first on Coinpedia Fintech News Render (RENDER), one of the top-tier crypto AI projects, is poised for a price decline due to the formation of bearish price action on the four-hour time frame. Bearish Market Sentiment As of today, March 9, 2025, the overall cryptocurrency market sentiment appears bearish. Leading assets like Bitcoin (BTC), Ethereum (ETH), and XRP have experienced notable price declines, influencing the broader market and contributing to a major downturn across the sector. RENDER is currently trading near $3.45 and has registered a price drop of over 3.55% in the past 24 hours. During the same period, its trading volume declined by 55%, indicating lower participation from traders and investors as the price reached a crucial level. RENDER Price Action and Upcoming Levels According to expert technical analysis, RENDER has formed a bearish head and shoulders pattern on the four-hour time frame and is on the verge of a neckline breakdown at $3.40. Based on recent price momentum and historical patterns, if the asset breaches the neckline and closes a daily candle below $3.35, there is a strong possibility of a 30% decline, potentially reaching the $2.22 level in the coming days. Source: Trading View Besides this bearish price action, RENDER’s Exponential Moving Average (EMA) indicates that the asset is still in a downtrend, which may be contributing to the lack of participation from traders and investors. Traders Over-Leveraged Positions Traders are currently over-leveraged at $3.39 on the lower side and $3.60 on the upper side, having built $382K worth of long positions and $800K worth of short positions in the past 24 hours, according to on-chain analytics firm Coinglass . When combining these metrics with technical analysis, it appears that bears are in control and could soon push RENDER below the neckline, potentially triggering further decline.

Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine