Render

Bitcoin

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-struggles-as-altcoins-enter-new-sell-off-phase/" data-wpel-link="internal">Bitcoin Struggles as Altcoins Enter New Sell-Off Phase</a> 
<a href="https://coin-turk.com/reddit-ceosu-bitcoin-artik-kalici" data-wpel-link="internal">Bitcoin</a> price outlook isn’t looking very positive, and the expected support from the ETF channel has not been forthcoming. As a result, <a href="https://coin-turk.com/ethereum-eth-katilleri-ve-oyun-projeleri-bitcoin-btcden-daha-iyi-performans-gosteriyor" data-wpel-link="internal">BTC</a> has not been able to test the ATH level, and a new selling period for altcoins has begun. March was marked by the RNDR Coin, which also took its share of this negativity. So what are the current predictions? 
<h2 style="text-align: justify" id="render-rndr-commentary">Render (RNDR) Commentary</h2> 
The RNDR Coin, which benefits from the excitement in the AI field by renting out GPUs, made a significant impact last month. At the beginning of last year, the team announced a change in the mechanism aimed at increasing the token price with a very ambitious launch. It then became one of the best-performing altcoins of 2023. 
The hype that started with the launch of ChatGPT at the end of 2022, the team’s announcement that they would make the token more valuable, and the general market rise that began at the end of 2023 and has continued to date positively affected the RNDR Coin price. From January 2023 to the peak in March 2024, the price increased by 3152%. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-336209 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/RNDR-Aktif-Adresler.webp" alt="" width="1200" height="800"> 
However, rises and falls do not last forever. Another negative aspect specific to RNDR Coin is the sell signal in the Active Addresses metric, which represents investors joining the network and making transactions. The metric dropped from 3,530 to 1,580 in just a few weeks, showing everyone how much investor interest has weakened. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-336208 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/RNDR-karlilik.webp" alt="" width="1200" height="800"> 
Moreover, since the profitability rate of active addresses is still above 20%, we may see the continuation of profit-taking sales if the general market sentiment turns even more negative. 
<h2 style="text-align: justify" id="rndr-coin-price-prediction">RNDR Coin Price Prediction</h2> 
In the first section, we tried to explain why the price has fallen and may continue to fall. A similar outlook is also present for Solana-based BONK Coin. These details could imply a possible broad market correction that could unexpectedly crash the price of <a href="https://en.coin-turk.com/solanas-price-surge-in-the-crypto-market-2/" data-wpel-link="internal">SOL</a> Coin. Keeping this in mind, one could be more cautious regarding Solana-based tokens (WIF and others). 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-336210 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/RNDR-Grafik-yorum.png" alt="" width="1920" height="802"> 
If the RNDR Coin price loses the key $10 support level, it could fall to $8.7 and $8.05. This would be a correction that could balance the profitability of active addresses. 
However, if the 50 and 100-day moving averages are strongly defended and the weakness on the <a href="https://en.coin-turk.com/bitcoin-surges-past-54000-mark/" data-wpel-link="internal">BTC</a> front returns to normal, the rally could extend. But we must not forget that no one can see the future and that crypto is full of surprises. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-struggles-as-altcoins-enter-new-sell-off-phase/" data-wpel-link="internal">Bitcoin Struggles as Altcoins Enter New Sell-Off Phase</a></h5>

Bitcoin Struggles as Altcoins Enter New Sell-Off Phase

Indice dei contenuti

COINTURK NEWS

Altri articoli pubblicati su 2 apr 2024

XRP Price Dips Below Key Psychological Level

Cryptocurrency Flash Crash Slices 4% Off Crypto Market Cap As Bitcoin, Solana, Dogecoin Plunge

NEAR Protocol Price Prediction: Will NEAR Retest The $5 Mark?

Machine Learning Algorithm Reveals What To Expect From Shiba Inu In April

BNB Chain to reward meme coin issuers with prizes up to $1m

Price analysis 4/2: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, ADA, AVAX

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!