RENDER price is up more than 10% in the last 24 hours, solidifying its position as the largest AI coin by market cap, ahead of competitors like FET and TAO. Despite this recent surge, on-chain data reveals mixed signals about its future trajectory.
Whale activity has hit its lowest level since December 2022, and the BBTrend indicator has turned negative, hinting at weakening momentum. With EMA lines presenting both bullish and bearish possibilities, RENDER faces a pivotal moment that could lead to either new highs or significant corrections.
RENDER Whales Hit Its Lowest Level Since 2022
Although RENDER price is up 56% in the last 30 days, with its market cap now close to $5 billion, the biggest among artificial intelligence coins, whale activity tells a different story. The number of addresses holding between 100,000 and 1,000,000 RENDER has dropped to 151, its lowest level since December 2022.
This decline indicates that large holders, or “whales,” are not accumulating during the recent price surge, which could signal a lack of confidence in sustained upward momentum. Without whale support, the rally may struggle to maintain its strength, leaving RENDER vulnerable to potential sell-offs.
Tracking whales is crucial because they often play a key role in driving market trends. Their buying activity can signal bullish sentiment, while their selling or lack of accumulation may foreshadow price corrections. The steady decrease in RENDER whale addresses over the past few weeks highlights a concerning trend.
This suggests that major investors may be reducing their positions, potentially capping price gains in the short term. If this pattern continues, RENDER price could face increased selling pressure and struggle to sustain its current momentum.
RENDER BBTrend Is Now Negative
RENDER’s BBTrend indicator is currently at -4.13, marking its lowest level since November 29. After remaining positive between December 7 and December 10, where it peaked at 17.6 on December 8, the BBTrend has now turned negative.
This shift suggests that RENDER has moved from a bullish phase to a bearish one, reflecting a decline in momentum and increased downside pressure on its price.
BBTrend, or Bollinger Bands Trend, measures the strength and direction of a price trend using Bollinger Bands. A positive BBTrend indicates a strong bullish trend, while a negative value signals bearish momentum.
With RENDER BBTrend turning negative, the price may face resistance in maintaining upward momentum. If bearish sentiment persists in the short term, this could lead to consolidation or further downside movement.
RENDER Price Prediction: $10 or $8 Next?
RENDER’s Exponential Moving Average (EMA) lines present a mixed outlook. The shortest EMA line recently crossed below a longer one, signaling bearish momentum. However, it has started rising again and could soon cross back above, which would indicate a potential bullish reversal.
If this bullish crossover occurs, it could spark renewed buying interest, pushing RENDER price to test resistance at $10.8. Breaking above that level might propel the price further to $11.9, pumping its market cap to roughly $6.2 billion.
Despite this possibility, data from whales and BBTrend suggests that bearish momentum is building. A downtrend could lead RENDER price to test support at $9.2, and if that level fails to hold, the price could decline further to $8.2 or even $7.1.
Disclaimer
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