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RENDER Price Falls 25%, Key Metric Suggests Buy Despite Risks Beincrypto 1 lună în urmă

RENDER Price Falls 25%, Key Metric Suggests Buy Despite Risks 📉

Render Santiment
The price of Render (RENDER) has declined 25% over the past week, dropping to a seven-month low of $4.14. While the Market Value to Realized Value (MVRV) ratio indicates that RENDER may be undervalued and presents a buying opportunity, caution is advised. Currently, RENDER is trading at $4.62, below its 20-day EMA and 50-day SMA, hinting that the downtrend could continue in the short term. These technical indicators suggest the altcoin remains bearish. RENDER's Relative Strength Index (RSI) stands at 31.36, indicating that the asset is oversold and experiencing a decline in buying activity. If demand does not increase, RENDER could drop further to $3.41. However, increased buying activity could push the price back up to $5.87. The market’s response in the coming days will be crucial in determining RENDER's future trajectory.

Sursă: beincrypto.com ↗

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