Render (Render), one of the first -class Crypto AI projects, is preparing for a decrease in the price due to the formation of declining prices on the time frame for four hours.
The morale of the descending market
As of today, on March 9, 2025, the morale of the comprehensive cryptocurrency market appears to be down. The leading assets such as Bitcoin (BTC), ETAREUM (ETH) and XRP have seen noticeable prices, affecting the broader market and contributing to a significant decrease throughout the sector.
Render is currently trading near $ 3.45 and a decrease in prices for more than 3.55 % over the past 24 hours. During the same period, the trading volume decreased by 55 %, indicating a decrease in participation from traders and investors as the price reached a crucial level.
Provide the movement of the price and the next levels
According to expert technical analysis, Render formed a major pattern of landing and shoulders in the four -hour time frame and is about to collapse the neckline at $ 3.40.
Based on the latter price momentum and historical patterns, if the assets violate the neck line and a daily candle closes less than $ 3.35, there is a strong possibility of a 30 % decrease, and may reach a level of $ 2.22 in the coming days.
Besides this declining price procedure, the Si -moving average (EMA) indicates that the original is still in the declining direction, which may contribute to the lack of participation of merchants and investors.
Excessive trading in situations
Currently, merchants are excessive at $ 3.39 on the underside and $ 3.60 on the upper side, after they built long sites worth 382 thousand dollars and 800 thousand dollars from short centers in the past 24 hours, according to a company analysis company Coinglass.
When combining these scales and technical analysis, the bears appear to be in control and can soon push down the neckline, which may lead to a further decrease.
