Render price remains in a stable range near $5.50 after a period of consolidation and increased whale activity.
The falling long-short ratio and OI-weighted funding ratio indicate a potential shift in market sentiment.
Recently, the price of Render [RENDER] has been consolidating in a symmetrical triangle pattern, indicating indecision in the market.
Throughout this period, a major uptrend respected a strong support level, which was frequently tested but never broken.
With whale activity up 4,843%, according to data from IntoTheBlock, market participants are watching to see if this surge can push prices above current resistance levels.
Source: IntoTheBlock
Render long/short ratio shows market caution
The long-short ratio has been falling steadily over the past three days, indicating an increase in short positions in the market. Currently, the ratio stands at 0.9223, signaling bearish sentiment.
This change could indicate that market participants are being cautious and could contribute to the price staying below important resistance levels.
Source: Coinglass
The funding ratio indicates the balance
According to data from Coinglass, the OI-Weighted Funding Ratio chart for RENDER had some interesting developments from September 2nd to October 9th.
After a drop to $5.00 in mid-September, the price has recovered and stabilized around $5.50. Funding rates have also remained stable, reflecting a balanced market with little volatility in market participants’ positions.
This balance shows that both buyers and sellers are waiting for a stronger catalyst to break the current range.
Source: Coinglass
Could Render Whale Activity Trigger a Breakout?
The combination of increased whale activity and strong uptrend support creates an interesting dynamic on Render.
On the other hand, a steadily falling long-short ratio and a flat funding rate could signal a potential breakout in the near future.
These key metrics—volume, funding rate, and long/short ratio—will be important to watch to hint at whether whale interest can save Render from further declines.
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