Why Render traders watch $1.75 support after a 12% daily drop
Render [$RENDER] fell nearly 12% in 24 hours as liquidation fears over seized Alameda‑linked tokens intensified market‑wide selling pressure. The decline deepened after reports confirmed U.S. authorities transferred part of the seized assets to Coinbase Prime, sparking speculation about potential sell‑side distribution. Trading activity also weakened sharply, with 24-hour volume falling more than 43% during the correction phase. However, the broader structure still reflected an active ascending channel despite the rejection near overhead resistance. The focus now is whether the $1.75 support region will stabilize price action before another wave of volatility emerges. $RENDER leveraged traders rapidly reduced exposure At the time of writing, Open Interest (OI) dropped 13.73% to nearly $88.49 million as derivatives traders pulled capital from the market during the correction. The decline reflected fading speculative participation rather than aggressive bullish positioning. Many leveraged traders likely closed positions after volatility surged around the government transfer reports. However, the reduction in OI also suggested that excessive leverage had started clearing from the market. The shift slightly reduced the probability of extreme liquidation-driven volatility in the near term. Derivatives activity therefore remained cautious despite Render still trading inside a broader bullish structure. As leveraged exposure cooled, market participants appeared increasingly focused on whether spot demand could
