Render (RENDER) Price Could Plunge 30%: Bearish Pattern Signals Trouble Ahead

Render (RENDER), a prominent project in the crypto AI space, may be on the verge of a significant price drop, as recent technical indicators point to a troubling bearish trend. With the overall cryptocurrency market sentiment leaning bearish, investors and traders are bracing for potential losses. As of March 9, 2025, RENDER’s price has dipped below $3.50, and experts predict that the asset could soon face a decline of up to 30%.

Bearish Market Sentiment Weighing on RENDER The broader cryptocurrency market is currently experiencing a downturn, with leading assets like Bitcoin (BTC), Ethereum (ETH), and XRP all seeing notable declines. This downturn is significantly impacting the price of many altcoins, including RENDER, which is now trading at around $3.45.

In the last 24 hours alone, RENDER has experienced a 3.55% drop in price, signaling growing bearish sentiment within the market. Moreover, its trading volume has decreased by a staggering 55%, suggesting that fewer traders are engaging with the asset. This drop in trading activity often reflects hesitation and caution, which could indicate a larger downward trend ahead.

Technical Analysis: Bearish Head and Shoulders Pattern Technical analysis reveals a concerning development for RENDER, with a bearish head and shoulders pattern forming on the four-hour chart. This pattern is often viewed as a reliable signal of a price reversal from bullish to bearish, and RENDER is now approaching the critical $3.40 neckline. If the price fails to hold above this key level, it could trigger further declines.

Experts suggest that a confirmed breakdown below the neckline at $3.40 would likely lead to a much deeper drop, possibly as much as 30%. In such a scenario, RENDER could dip to the $2.22 level, which would represent a significant loss for investors holding the asset.

The Role of Moving Averages in the Downtrend Looking further into the technical indicators, RENDER’s Exponential Moving Average (EMA) also paints a bleak picture. The EMA is still showing a clear downtrend, which typically indicates that the asset is losing momentum to the downside. This aligns with the bearish pattern observed on the chart and reinforces the expectation of further declines. As traders continue to exit their positions, RENDER may struggle to maintain upward momentum, increasing the likelihood of a breakdown below the critical support levels.

Traders Facing High Over-Leverage An additional factor weighing on RENDER’s price is the high degree of over-leverage among traders. Data from on-chain analytics firm Coinglass reveals that there is significant over-leveraging at the $3.39 and $3.60 price points. In the past 24 hours, traders have accumulated a combined $382K in long positions and $800K in short positions, suggesting that market participants are heavily invested on both sides of the trade.

While long positions indicate optimism, the substantial short interest suggests that bears are firmly in control. Should RENDER fall below the neckline at $3.40, the short positions may trigger a cascade of sell-offs, exacerbating the downward pressure on the price and potentially pushing it lower. This scenario would align with the bearish outlook, signaling a deeper plunge in RENDER’s value.

What’s Next for RENDER? The outlook for RENDER remains bearish for the short term, especially if it fails to maintain support above the $3.40 mark. If the asset breaks below this level and confirms a daily close under $3.35, a 30% decline to around $2.22 could be in store.

Investors and traders looking to navigate these turbulent waters should keep a close eye on RENDER’s price action in the coming days, especially around the neckline of the head and shoulders pattern. A failure to hold support at this level could lead to increased selling pressure, making a further price decline more likely.