Render (Rentand), one of the top encryption AI projects, is preparing for price drops due to 4 hours of weak price behavior.
Weakness
As of March 9, 2025, the overall cryptocurrency market sentiment seems to be weak. Major assets, such as Bitcoin (BTC), Ethe (Ethe) and XRP, have experienced notable price drops, influencing a wider market and contributing to major stagnation in the sector.
Render is currently trading near $ 3.45 and has registered more than 3.55% of the price drop over the last 24 hours. During the same period, the volume of trading decreased by 55%, indicating that the participation of traders and investors was low as the price reached a decisive level.
Render price behavior and upcoming levels
According to expert technical analysis, Render has a weak and shoulder pattern for 4 hours and is just before the $ 3.40 neckline failure for 4 hours.
Based on the recent price momentum and historical patterns, assets violate the neckline and close the candles of less than $ 3.35 daily, and it is likely to decrease by 30%, which is likely to reach $ 2.22 in the future.
In addition to this weak price behavior, Render’s index moving average (EMA) is still in a decline in assets, which can contribute to the lack of participation of merchants and investors.
Merchant’s overpower
According to CoingLass, a merchant analysis company, merchants are currently increasing excessively from the bottom to $ 3.39 at the bottom and $ 3.60 from the top, and have built a long position worth $ 382K and a short 800 million dollar in the last 24 hours.
When combining these metrics with technical analysis, the bear is in control and can soon be rendered under the neckline, which can potentially reduce additional reductions.