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The Render price plunged over 6% in the last 24 hours to trade at $10.53 as of 12:25 a.m. EST as investors offload their holdings in the altcoin.

The RNDR price drop was enough to pull its weekly performance into the red zone as well, but it’s still up more than 16% over the past month.

The Render Price Testing Crucial Support

4-hour chart for RNDR/USD (Source: GeckoTerminal)

The Render price plummeted out of a bullish channel that had emerged on its charts over the past 48 hours. This was after the altcoin was rejected by the $11.55 resistance throughout the past day of trading. 

Following the rejection, RNDR broke below the $10.90 support and is now testing the next key mark at $10.33. If bears continue to exert pressure on the crypto, the Render price could be at risk of falling to as low as $9.70 in the short term.

However, RNDR maintaining a position above $10.33 for the next 12 hours might invalidate the bearish thesis. In this alternative scenario, traders could identify the Render price’s current level as a buy entry.

With this potential buy volume, RNDR might attempt to reclaim the $10.90 support. A 4-hour candle close above this threshold could then give the altcoin the technical foundation needed to keep climbing. RNDR might rise to $11.55 as a result.

Technicals Warn Of A Continued Render Price Drop

Technical indicators on RNDR’s 4-hour chart suggest the crypto could fall some more in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bearish.

Over the past 12 hours, the MACD line crossed below the MACD Signal line. Traders usually identify this technical occurrence as an indication that a crypto has entered a negative phase. If the MACD line starts to break away below the Signal line, the Render price might lose the $10.33 support level soon.

Meanwhile, the RSI shows that sellers have gained the upper hand against buyers. This is after the RSI’s value dropped substantially throughout the past day of trading. 

Given its current value below 50, it seems bears are stronger than bulls. Should they capitalize on this advantage, sellers could pull RNDR down further in the short term.

While the Render price remains at the mercy of sellers, the same can’t be said for WienerAI, which is going ballistic in presale as it closes on $3 million raised.

An Advanced AI Trading Companion

WienerAI (WAI) is unlike many other canine-themed meme coins because it is backed by powerful AI technology. It also offers real world utility by acting as a sophisticated and loyal trading companion for traders.

Backed by cutting-edge AI models, WienerAI can help its users make more informed investment and trading decisions. Users will also be able to interact with the predictive AI models through an easy-to-use user interface.

With the market anticipating a bull run, crypto YouTuber Jacob Bury believes WienerAI could be a 100X speculative opportunity.

WienerAI token holders also can take advantage of seamless swap capabilities offered through Sausage Swaps, and will gain access to MEV protection, ensuring they never get front run by a MEV bot again.

All of these features come with zero fees as well.

Investors Rushing To Buy WAI

Buyers may also be flocking to the meme coin’s ICO for its lucrative staking opportunity.

Anyone who purchases WAI at this early stage will be eligible for a 375% APY. With more than 2.7 million tokens already locked up, it’s fair to say that many have already booked their slot.

🌭🤖2 MILLION WIENERS!!!!🌭🤖

🌭🤖🌭🤖🌭🤖🌭🤖🌭🤖🌭🤖 pic.twitter.com/gOQKIlihTq

— WienerAI (@WienerDogAI) May 17, 2024

Anyone who wants to exposure to WAI can do so through the project’s official website. Embedded on the home page is a simple buy widget, which can be used to purchase WAI.

Currently selling for $0.000709, WAI can be bought using either ETH, USDT, BNB or bank card. Investors will want to hurry, because the meme coin’s price is set to increase imminently.

Purchase and stake WAI tokens here for a 375% APY.

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