Bitcoin and Altcoins Decline

With Bitcoin trading under $90,000 for the first time since November 2024, altcoins are also on a downtrend. Multiple altcoins struggle to maintain critical support levels, putting Render at risk of a potential breakdown.

Will There Be a Crash?

Render Price Analysis: A Bearish Outlook?

The weekly chart of Render reveals a significant decline from a swing high of $11.75. The bullish trend could not maintain its momentum, resulting in a reverse in early December, leading to a nearly 65% drop in market valuation. Currently, Render trades at $3.72, down 10.71% this week. This marks its second consecutive week of decline, with a total drop of 14% over two weeks. Since December, Render has not recorded more than three bullish weeks, maintaining a consistent bearish trend.

The weekly RSI is nearing the oversold boundary, while the 50 and 100-week EMA lines suggest a potential crossover, indicating further price decline. Render is approaching the $3.60 support level, and a bearish continuation below this could lead to a fall towards $2.73 or even $1.19.

Analyst Prediction: Break Below $3.30?

Crypto analyst Ali Martinez warns of a possible massive downswing for Render. He identifies crucial support at $3.30, and a break below this could push the price down to $1. However, lower price rejections near $3.60 indicate a possible bounce back. If Render reverses bullishly, the 100-day EMA at $5.81 would be a key resistance, representing a 40% upside potential if it stays above $3.60. Conversely, the downside risk could extend from 27% to nearly 70%.