RENDER rallies 17% to 5-month high as AI tokens heat up – More gains ahead IF…
Tech RENDER rallies 17% to 5-month high as AI tokens heat up – More gains ahead IF… Such a jump in both OI and Volume showed increased market activity, with new positions being opened either long or short. Meanwhile, RENDERs Long/Short Ratio rose to 1.8, with longs accounting for 64% of the total positions. This suggests that traders were bullish and opened long positions in anticipation of further gains. Source: CoinalyzeProfit taking surges, threatening the rally. As RENDER jumped to a five-month high, investors, especially short-term holders, saw their profit margins expand. In fact, the MVRV Long/Short Difference metric dropped to a monthly low of -40%. Source: Santiment The metric is in negative territory, suggesting that recent buyers are currently enjoying higher profits. At the same time, long-term holders have yet to recover profitability. This rising profit margin pushed some to cash out. CoinGlass data showed a positive Spot Netflow, which remained positive for over a week. Source: CoinGlass At press time, Spot Netflow sat at around $2.3 million, with $30 million flowing out compared to $32 million flowing in. This suggests that sellers were active in the market; higher seller dominance often precedes a weakened market. Can the upside hold? With RENDERs upside momentum remaining strong despite profit-taking, it is bolstered









