🖖 RNDR/USDT - Render's recent correction proved to be insignificant in the broader market: according to data from the Santiment analytics platform, the altcoin's price and daily active addresses are increasing, creating favorable conditions for further rally. Forecast: At the time of writing, Render is trading at $10.8. The altcoin is close to confirming the formation of a double bottom: once it surpasses the $11.2 resistance, the pattern will be completed. If bullish sentiment persists, the asset's price may continue to rally towards $11.5 and beyond. However, potential selling pressure could nullify the momentum. In such a case, the altcoin's price could drop to $9.2, making #RNDR vulnerable to further correction.
🤫 AVAX/USDT - The price of #Avalanche has been holding below the $40 mark for almost a month. Overcoming this level is crucial for the altcoin to rise to $45. However, the chances of this happening in the coming days are slim: the DAA indicator is currently signaling sell, indicating potential divergences between market valuation and network activity. Forecast: At the time of writing, Avalanche is trading at $37, attempting to close above $40. Confirmation of this level as support typically leads the altcoin to break through to $45. However, considering the aforementioned bearish signals, a price correction for #AVAX towards $32 followed by sideways movement appears much more realistic. If the $40 resistance is breached, Avalanche may attempt to break through to $45. Such a scenario would negate the bearish thesis and initiate the asset's recovery.
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