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Is Render (RDNR) Price About to Lose $10 Support? – These Indicators Suggest So

Render price has been declining for the past two weeks after marking an all-time high in March. But it seems like this sentiment among investors has dissipated.

With declining activity, could RNDR be on the verge of losing crucial psychological support?

Render Investors Back Down

Render price is witnessing bearish cues building up not only because of the broader market cues but also because of its own investors. Active Addresses, which represent the investors participating in the network and conducting transactions, have noted a massive decline.

In the span of a week, these addresses have come from 3,530 to 1,580. This shows that with the decline in price, investors are convinced of further losses, motivating them to pull out and sit still until recovery begins.

Render Active Addresses.
Render Active Addresses. Source: Santiment

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Not only this but upon breaking down the active addresses, it appears that there is still some inkling of profit-taking among RNDR holders. The distribution of active addresses by profitability shows that 77% of the investors are at the money, noting no profits or losses, and another 21% are witnessing profits.

Render Active Addresses by Profitability.
Render Active Addresses by Profitability. Source: IntoTheBlock

RNDR Price Prediction: More Downside on the Way?

Render price, if impacted by the above-mentioned bearish cues, could lose the $10 support level to slip to $8.7. If this support floor is lost, the altcoin will likely fall to $8.05 to mark a 20% correction.

RNDR/USDT 12-hour chart.
RNDR/USDT 12-hour chart. Source: TradingView

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On the other hand, if the psychological support of $10 remains unbroken, Render price will potentially have a shot at initiating a recovery. Should it manage to flip the 50 and 100-day Exponential Moving Average (EMA) into support, it would invalidate the bearish thesis.

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In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.


In conclusion, the decline in Render price is a result of bearish cues in the market, leading to a decrease in active addresses and a potential loss of crucial psychological support. This indicates that investors are withdrawing from the network and waiting for a potential recovery before re-entering. Additionally, there is evidence of profit-taking among RNDR holders, further contributing to the downward pressure on the price. If Render price fails to hold the $10 support level, it may experience a significant correction to $8.7 and potentially even lower. However, if it can maintain the psychological support of $10 and flip key moving averages into support, there may be a possibility of a recovery in the future.

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