• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Friday, June 13, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

RENDER Drops 25%, Key Metric Indicates Buy Despite Risks

Jordan Avery by Jordan Avery
August 6, 2024
in News
Reading Time: 3 mins read
0
render-rndr-blockdag-tech 1
Share on TwitterShare on Facebook

The price of the leading artificial intelligence-based token, Render (RENDER), has plummeted 25% over the past week. While a key on-chain metric suggests this may be a good time to buy the altcoin, its price remains at risk of falling further.

Render Buyers Should Take Caution

As of this writing, RENDER trades at $4.62. During Monday’s market downturn, the altcoin plummeted to a seven-month low of $4.14. 

According to RENDER’s market value to realized value (MVRV) ratio, now may be a good time to buy the altcoin as it is currently undervalued. The negative values of this ratio, when assessed over different moving averages, confirm this. Per Santiment, RENDER’s 30-day and 90-day MVRV ratios are -9.47 and -25.79, respectively.

RENDER Drops 25%, Key Metric Indicates Buy Despite Risks
RENDER Drops 25%, Key Metric Indicates Buy Despite Risks

This metric measures the ratio between an asset’s current price and the average price at which all its coins or tokens were acquired. When its value is positive, the asset’s market value is higher than the cost basis for most investors. Here, the token is overvalued, and coin holders can sell for profit.

Conversely, an MVRV ratio below zero indicates that the asset’s market value is less than the average purchase price of all its circulating tokens, signaling that it is undervalued.

A negative MVRV ratio presents a good buying opportunity, as it connotes that the asset trades at a lower price. This allows traders to accumulate it, hoping to sell it at a higher price later.

Price Below 20-Day EMA and 50-Day SMA, Downtrend to Continue?

However, RENDER’s price action on a daily chart hints at the continuation of its downtrend in the short term. At its current price, RENDER trades below its 20-day exponential moving average (EMA (blue line) and its 50-day small moving average (SMA) (yellow line).

An asset’s 20-day EMA is a short-term moving average that reacts quickly to price changes. It reflects the average closing price of an asset over the past 20 days. Meanwhile, the 50-day SMA, on the other hand, is a longer-term moving average that reflects an asset’s average closing price over the past 50 days.

When an asset trades below these moving averages, it indicates its price has declined over both short—and medium-term periods. This bearish trend is seen by traders as a signal to sell or avoid buying until the asset shows signs of recovery above these moving averages.

Render Price Analysis. Source: Tradingview

Additionally, RENDER’s Relative Strength Index (RSI) is in a downtrend at 31.36 at press time. This indicator measures an asset’s oversold and overbought market conditions. At 31.36, RENDER’s RSI confirms a decline in buying activity.

RENDER Price Prediction: Token May Revisit 7-Month Low

The further the demand for RENDER dries up, the more it is at risk of devaluation. Once it sheds its gains of the past 24 hours, the altcoin will revisit its seven-month low of $4.14 and may even fall below it to trade at $3.41.

Render Price Analysis. Source: Tradingview
Render Price Analysis. Source: Tradingview

However, if more traders begin to “buy the dip” and RENDER accumulation steadies, its price may climb to $5.87.

Tags: Buying RiskMarket TrendsMVRV ratioPrice DropRender
Previous Post

Optimism Grows as Notcoin (NOT) Traders Respond to Double-Digit Surge

Next Post

Bitcoin Whales Have Accumulated $23 Billion in the Last Month

Related Posts

Market Analysis

XRP Price Prediction: Is History About to Repeat Itself?

June 9, 2025
Featured

Zhao DEX Could Challenge HyperLiquid

June 8, 2025
Featured

Trump vs Elon Musk: Dogecoin Tumbles on Market Fear

June 7, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes
News

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
Featured

Dow Rises, Tesla Drops After Musk-Trump Feud

June 5, 2025
Can XRP Hit $5? Technicals and Whales Say Yes
Market Analysis

Can XRP Hit $5? Technicals and Whales Say Yes

June 4, 2025

Press Releases

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes
News

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

by Alex Mercer
June 6, 2025

Introduction When Donald Trump and Elon Musk get into a digital brawl, you know something's about to break—and this time,...

Read more
Binance Beats SEC—Crypto Cheers the Legal Victory

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier