The Render price has plunged over 11% on the weekly timeframe following a 3% loss in the past 24 hours to trade at $6.02 as of 11:45 a.m. EST.
With its poor performance during the short-term time frames, the RENDER price is also in the red by more than 15% over the past 30 days. It is, however, still up over 231% year-to-date.
The Render Price Testing A Critical Support
4-hour chart for RENDER/USD (Source: GeckoTerminal)
The Render price is trapped in a negative bearish channel after the altcoin recorded multiple lower highs and lower lows over the past few days. Now, the crypto is testing the crucial support level at $5.9448. A drop below this key price point might lead to RENDER falling to the subsequent mark at $5.7106 in the following 24 hours.
On the other hand, the Render price maintaining a position above $5.9448 for the next 12 hours could invalidate the bearish thesis. In this alternative scenario, traders might identify RENDER as a buy opportunity. With this potential bullish volume, the altcoin could try to break above $6.3352 to escape from the descending price channel.
A 4-hour candle close above $6.3352 in the short term might then lead to the Render price rising to as high as $6.6604.
Technicals Suggest The Render Price Could Keep Dropping
Technical indicators on RENDER’s 4-hour chart show that the altcoin is currently in a bearish trend and could keep falling in the next 24 hours. In addition to the Moving Average Convergence Divergence (MACD) indicator flashing bearish, the orientation of 9 and 20 Exponential Moving Averages (EMAs) also shows that sellers have the edge over buyers.
Throughout the past 48 hours, the MACD line has been positioned below the MACD Signal line. Traders usually see this as a sign that a crypto is in a short-term negative cycle. As a result, the Render price might continue to fall in the coming 24 hours.
Meanwhile, the 9 EMA is positioned below the 20 EMA to signal that momentum is currently in favor of sellers. What’s more, the growing gap between the two technical indicators suggests the short-term bearish momentum is intensifying.
While RENDER tries to fight off bears, investors are FOMO buying WienerAI (WAI) before its presale comes to an end in less than 2 hours.
A Meme Coin With High Levels Of Utility
WienerAI (WAI) is a dog-themed crypto looking to establish itself in the vibrant meme coin ecosystem. However, unlike many of the tokens that came before it, WienerAI comes with high levels of utility given its powerful AI capabilities.
The project is able to take in large amounts of market data and uncover hidden insights and trade opportunities that even veteran traders would miss. With WienerAI’s market analytics, traders can focus more energy on the timing and capital allocation of their orders to maximize profits.
WienerAI also offers users a seamless token swap solution called Sausage Swap. This tool ensures traders and investors never miss a golden opportunity again.
Users will also never have to worry about being frontrun by MEV bots, given the constant MEV protection that the project provides as part of its suite of trading tools.
With everything WienerAI has to offer users, coupled with the project’s appeal to meme coin investors, it is easy to see why renowned YouTuber ClayBro is bullish on WAI.
In a recent video, he told his 120K subscribers that the meme coin could undergo a 20X surge after launch.
Investors Rush To Buy WAI Before Its ICO Ends
Almost $9 million has been sent to WienerAI’s ongoing presale as investors rush to buy the meme coin at presale prices.
With just hours left until WAI’s ICO concludes, time is running out for investors to acquire the token at this early stage and get in on the 125% annual staking yield on offer to presale buyers.
Charging up power⚡️
This is your last chance to join the WienerAI presale! pic.twitter.com/taI4Wjavky
— WienerAI (@WienerDogAI) July 30, 2024
To unlock the staking rewards before it’s too late, investors can utilize the simple buy widget embedded on WienerAI’s website to purchase WAI.
Selling for $0.00073, the token can be bought using either USDT, ETH, BNB or bank card.
Buy WAI tokens here before its presale ends.
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