CandleFocus RENDER Price Gains 10% in a Day, Retains AI Coins Crown Amid Challenges
2024-12-12
Author: Content Editor
RENDER's price has increased by over 10% in the past 24 hours, solidifying its position as the largest AI coin by market cap. However, on-chain data reveals mixed signals for its future trajectory. Whale activity has reached its lowest level since December 2022, and the BBTrend indicator has turned negative, suggesting weakening momentum. The number of addresses holding RENDER has also decreased, indicating a lack of confidence in sustained upward momentum. The decline in whale activity and negative BBTrend indicator may lead to potential sell-offs and a struggle to maintain current momentum. The EMA lines offer a mixed outlook, with a potential bullish reversal if the shortest EMA line crosses back above a longer one. However, bearish momentum is building, and a downtrend could lead to price declines and a test of support levels.
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