Render (RNDR) Price Analysis
The price of Render (RNDR) has been in a downward trend since May, and the bearish sentiment has further intensified this week. The cryptocurrency has fallen by nearly 9% in the past 24 hours, and this ongoing downward trend has caused significant losses for investors.
The broader artificial intelligence sector has also been in a slump, and this situation has also affected the market sentiment of RNDR and other related tokens. The Chaikin Money Flow indicator shows bearish signs and is currently below the zero line, indicating that funds are flowing out in large quantities.
At the beginning of this month, RNDR lost important support levels and the price fell below $7. Although it managed to stay above $6, RNDR fell again on Thursday by more than 8% to $5.97.
In the current trading day, RNDR continued to fall by 2.59%, showing a trend of sellers controlling the market. If this seller pressure continues, RNDR may fall to around $5.50 or even $5.
Overall, Render (RNDR) faces a difficult market environment, with important technical support levels being broken, and market sentiment is low and bearish. Investors should remain cautious and pay close attention to market dynamics and possible price changes.
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