RENDER Price Poised for 30% Drop? Bearish Pattern Spotted
Rendering (rendering) is one of the top crypto AI projects and is expected to fall due to bearish price action formed over a four-hour timeframe.
Bearish market sentiment
As of today, March 9 to March 9, 2025 Cryptocurrency Market Sentiment seems to be bearish. Leading assets such as Bitcoin (BTC), Ethereum (ETH) and XRP have experienced significant price drops, impacting the wider market and contributing to the massive declines across the industry.
Rendering is currently trading at close to $3.45, down more than 3.55% over the past 24 hours. During the same period, its trading volume fell by 55%, indicating that traders and investors’ participation declined as prices reached key levels.
Rendering price action and upcoming levels
According to expert technical analysis, the rendering forms a bearish head and shoulder pattern over a four-hour time frame and is on the verge of a neckline failure of $3.40.
Based on recent price momentum and historical patterns, if the asset violates the neckline and closes $3.35 below the daily candle, it is likely to drop 30%, possibly reaching $2.22 in the coming days.
In addition to this bearish price action, the rendered exponential moving average (EMA) indicates that the assets are still on a downward trend, which may lead to insufficient participation from traders and investors.
Traders over-leverage
According to Link Analysis Company Small shop.
When these metrics are combined with technical analysis, it seems that the bear is in control and may soon push the render toward the neckline, potentially triggering further declines.
