Render’s (RNDR) price slipped below its downtrend, signaling losses are continuing to rise on the network.

However, this still has not put fear in some investors whose conviction could help the recovery.

Render Investors Exhibit Mixed Signals

Render’s price has noted a considerable drawdown over the past month. During this time, investors lost a huge chunk of their money, and many even receded. The overall Artificial Intelligence (AI) space witnessed bearishness impacting other similar tokens as well. Speaking to the same, Akshay Nassa – Founder of Chimp Exchange, exclusively told BeInCrypto,

“For crypto markets, it’s been a volatile week. AI tokens such as FET, with a market cap of $2.98B, RNDR with a market cap of $2.53B, and GRT, with a market cap of $1.75B, witnessed a substantial decline.Despite the volatile nature of AI tokens in the crypto market, their value propositions are compelling.”

Render’s Chaikin Money Flow (CMF) shows this well, as it has been stuck in a downtrend for the last two months. Currently, it is below the zero line, indicating significant outflows. This typically signifies an increase in selling pressure.

Despite this bearish signal, another key metric tells a different story. Render’s Mean Coin Age continues to show an uptick. This metric measures the average age of coins in the network, indicating how long coins have been held.

An increasing Mean Coin Age suggests that most investors hold onto their coins, showing strong conviction. This behavior contrasts with the selling pressure indicated by the CMF.

Read More: How To Buy Render Token (RENDER) and Everything You Need To Know

The combination of these factors could lead to potential consolidation in Render’s price. While selling pressure is present, the continued holding by long-term investors suggests that a significant price drop may be avoided.

RNDR Price Prediction: Breaking Another Resistance

Render’s price has noted a 40% decline in the last couple of days, invalidating multiple support levels. The altcoin has dropped from $11 to $6.7 in a month, stabilizing above the $6.3 support line.

The mixed signals coming from the investors, however, suggest consolidation above $6.8 and under $8.0. This range has been tested before, and the same could occur again since the market is still volatile.

Read More: Render Token (RNDR) Price Prediction 2024/2025/2030

However, if the upper limit of $8.0 is breached, the Render’s price could rally to $9.0 or more. This would invalidate the bearish-neutral thesis to push the altcoin toward recovery.

Dogwifhat (WIF), the meme coin that took the crypto market by storm in the first quarter of the year, has dropped 23.76% in the last seven days. However, WIF is showing early signs of a rebound even though several indicators continue to give mixed signals. 

While the road to respite may be challenging, BeInCrypto’s deep dive shows that bulls seem determined to drive a higher value for the crypto.

Dogwifhat Bulls Threaten Bearish Supremacy

Recently, WIF encountered a 39.55% decrease between June 5 and 24. During this period, the price fell from $3.42 to $1.60.

However, the token did not take long to rebound to $2.25 on July 1, only to be faced with selling pressure that drove it back to June lows.

According to the daily chart, things seem to be changing in WIF’s favor. This is because of the signs shown by the Cumulative Volume Delta (CVD).

The CVD displays changes in the volume traded by buyers and sellers. If the CVD prints a green bar, it means that the volume change is above zero, and buying pressure outpaces selling pressure.

Read More: What Is Dogwifhat (WIF)?

On the other hand, a red bar for the indicator shows that sellers are dominant in the market. As shown above, the CVD on WIF’s daily chart is green. This position implies that buyers edged sellers by over $307,950.

Should bulls keep up with this dominance, WIF may resist trading below $1.70 again. Instead, the price of the meme coin could be eyeing a higher value.

Furthermore, on-chain analysis, backed by the Open Interest (OI) is a party to this potential. According to Santiment, Dogwifhat’s OI is $166.70 million. 

Though this is a low value compared to July 6, it is an improvement from the figure for Sunday, July 7.

Open Interest refers to the sum of all open contracts in the market. When it increases, buyers are aggressive and increase their net positions. However, a decrease implies that market participants are closing positions and taking their capital out.

While WIF has shown signs of a potential price increase on the chart, the OI has to increase exponentially with it to validate the jump.

WIF Price Prediction: A 20% Rally Is Possible

Another examination of the technical state of the memecoin shows that the Moving Average Convergence Divergence (MACD) sits above the signal line.

The MACD indicates momentum using the difference between two moving averages—specifically, the 26 EMA (orange) and 12 EMA (blue). The indicator also helps spot entry and exit points. 

A positive reading of the MACD indicates a bullish momentum, while a negative reading suggests otherwise. Thus, the reading at press time suggests that WIF’s momentum is bullish, and an entry between $1.68 and $1.72 could yield gains as the price attempts to retest $2.11.

Read More: 5 Best Dogwifhat (WIF) Wallets To Consider In 2024

It is worth noting that WIF does not yet have a clear path above $2. To validate the thesis, bulls must sustain the current momentum and kick off whatever dominance bears want.

If this happens, the WIF’s price may rise above the landmark. But in the event that selling pressure takes over the meme coin market again, this will be invalidated. Should that be the case, WIF will drop below $1.60 again.

Monthly revenue across the Fantom (FTM) network has plummeted by over 30% in the last month. This has occurred despite the uptick in the number of active addresses on the network during the same period.

The decline in Fantom’s revenue is due to the decrease in the value of its governance coin FTM, whose price has plunged by almost 40% in the past 30 days.

Fantom’s Active Addresses Grow, But There Is a Catch

Fantom has witnessed a significant uptick in active users over the past month. With a user count of 593,340 addresses in the past 30 days, the number of unique addresses that have interacted with the blockchain network during that period has risen by 77%.

The cause of this is not far-fetched. During the period under review, FTM’s value has significantly declined. Since gas prices on the network are denominated in FTM, a decrease in FTM’s price makes transactions cheaper for users interacting with the network, hence the surge in active address count.

Due to low gas prices on the Fantom network, transaction fees have totaled $52,490 in the last 30 days, dropping by 31%. The revenue derived from these fees is $15,750, declining by over 30% during the same period.

Fantom’s monthly revenue began to decline after closing at a year-to-date high of $89,377 in March. By the end of Q2, this has dropped by 81%.

Read More: Top 5 Yield Farms on Fantom

So far this month, Fantom’s revenue has totaled $3,506.

FTM Price Prediction: Surging Selling Pressure to Cause Further Decline

As of this writing, FTM exchanged hands at $0.44. The coin’s value has plunged by almost 40% in the last month. This has caused the coin’s price to trade under its 20-day exponential moving average (EMA)  and its 50-day small moving average (SMA)

An asset’s 20-day EMA measures its average price over the last 20 days, while its 50-day SMA tracks its average price over the last 50 days. When an asset’s price falls below these key moving averages, it means that its value is lower than the average price over both short-term and long-term periods, suggesting a potential continuation of the downward trend.

If FTM’s downtrend continues, it may fall to exchange hands at $0.43.

However, if the bulls regain market control and buying momentum spikes, the coin’s value may rise to $0.47.