- Render Bulls challenged the level of resistance of $ 4.4, aimed at $ 7.
- Distribution trends and lack of development activity were warning signs.
In an article on X last week, the BitCoinsensus User noted that Render (rendered) had to climb up the $ 3 application area.
A repair of $ 4.4 could create an escape beyond $ 7 and present an opportunity to purchase, as indicated in the attached graph.
Source: bitcoinsensus on x
The massive retracement in 2024 and 2025 was considered to be part of the Haussier pennant that Altcoin formed. A step beyond $ 7 would signal an escape from this pennant, which makes the previous summit at $ 13 per target.
The level of resistance of $ 4.4 was disputed at the time of the press. If it has been returned to support, should merchants and investors buy more rendering?
Rendering warning signs
Source: Santiment
The development activity behind the supplier of decentralized GPU rendering solutions has been negligible, according to health data.
It was a major concern for investors because it reported less improvements and fixes for the network.
The 7 -day RSI was 50 years old, signaling a change of bullish dynamics. Social volume has slowly increased in the last month. However, this does not indicate a rally of rendering by itself.
Source: Santiment
Another sign of concern came from the value measures of the network. The average age of the parts has dropped quickly in the last three months and has been at the level seen for the last time in August 2024.
The age of the average currency said that the older parts were spent or moved, a sign of pressure from holders.
The price rebound in the past two weeks has taken the 90-day MVRV above zero. This has shown that medium -term holders were at a slight profit, but also underlined a strong distribution trend.
Together, he did not present a purchase signal.
The active daily newspaper approaches metric is also in a downward trend since November 2024. The recent price wave has not been in parallel with an increase in network activity.
Consequently, there was a good chance that the price rebound could wave, giving the holders a chance to leave their positions.
The technical analysis highlighted the importance of the resistance of $ 4.4.
However, the lack of participation in the network, as well as the distribution phase of the last three months, meant that investors should be careful if they want to bid on the rendering.
