AI Sector Down Bad — But Whale Clusters Suggest Big Bounce Setup
The artificial intelligence market is seeing hard times, with prices plummeting. However, large investors are showing signs of renewed interest. Recent data reveals the accumulation of certain coins, hinting at possible future gains. This unexpected activity suggests potential rebounds. Discover which digital assets are poised for growth in this shifting landscape.
Render Faces Volatility But Hints at Potential Rebound
Source: tradingview
Render's current price hovers between $1.51 and $2.04, reflecting recent volatility with a 15.63% drop in just a week. Key support lies at $1.31, while resistance waits at $2.36. If Render breaches its nearest resistance, it could climb to the next level of $2.89, offering a rise of over a third from the low end of its current range. However, its journey remains challenging, as past six months saw a plunge of over 60%. At a 43.22 RSI, Render isn't oversold yet, but cautiously optimistic eyes watch for signs of a bounce, despite being below the 10-day and 100-day moving averages.
Artificial Superintelligence Alliance (FET) Eyes Recovery Amid Price Fluctuations
Source: tradingview
The price of Artificial Superintelligence Alliance is currently between roughly 24 and 32 cents. It's facing a resistance wall at 37 cents. The price dances around the 10 and 100-day averages of 28 and 29 cents, showing stability. The RSI reads low, hinting that FET may be oversold and could bounce back up. But growth is needed, as the MACD level suggests some downward pressure. FET benefits from support at 21 cents, offering a safety net. Breaking past the first resistance could lead to a jump, potentially reaching the next level at 45 cents. This would mark a substantial climb of nearly 41%.
NEAR Protocol Eyes Recovery Amid Recent Slump
Source: tradingview
NEAR Protocol's price has been fluctuating between $1.61 and $2.22. Recently, it has struggled, with a drop of nearly one-fifth over the last week and month. If NEAR can break through the resistance level of $2.62, it could signal a positive shift, potentially climbing towards $3.23. This would mark an impressive gain of about half from its current levels. However, if the price falls through the support level of $1.40, it may head lower, approaching the second support at just below $0.80. Despite the recent downtrend, traders are watching for signs of recovery as the market shows potential for future growth.
Conclusion
Whale clusters show strong accumulation signs for RNDR, FET, and NEAR, pointing to potential upward movement. Large investors seem to anticipate significant gains. This suggests a probable bounce-back for the sector, despite current setbacks. Trends and patterns from past data further support an optimistic outlook. These signals indicate that key players see promise and growth ahead.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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