Cryptocurrency investors are finding themselves perplexed by the volatility in the market, particularly when it comes to artificial intelligence coins like Fetch.ai (FET) and Rendr (RNDR). These tokens have recently garnered significant interest and show promise for the future. The question now is whether it is more prudent to hold onto or sell these tokens.
What Can FET and RNDR Offer?
As we delve into the interaction between social media engagement and Bitcoin prices, it becomes apparent that artificial intelligence and trading strategies are taking center stage. However, investors are most interested in the performance of cryptocurrencies like FET and RNDR, and what they can bring in the days ahead.
Recent data from Santiment reveals a noteworthy surge in the number of active addresses for Fetch.ai and Rendr. This can be directly attributed to the growing demand and participation in these cryptocurrencies. However, it is also worth noting that holders are showing a tendency to move their tokens, suggesting the existence of selling pressure.
On the other hand, the re-circulation of old coins and the increase in inactive circulation are also significant developments. However, it remains uncertain how effective these metrics will be compared to the increases seen in December. While Rendr’s price remained relatively stable throughout most of March, recent selling pressure has put buyers in a challenging position.
What Does the Liquidation Heatmap Say About RNDR?
The liquidation heatmap indicates that RNDR prices have declined to a certain level, indicating a notable concentration of liquidation levels. The range of $8.4-$8.7 is believed to carry a higher risk of liquidation.
If the downward trend continues, prices could drop below the $8 mark, and the ranges of $8.4 and $5.7-$5.9 could present attractive buying opportunities for long-term investors. However, it is vital to exercise careful risk management during this process. Analysis of Bitcoin’s price movements suggests that investors should brace themselves for a potential prolonged downtrend scenario in April.
FET’s Rising Performance
Amidst this crucial period, FET’s upward performance on the charts is catching the attention of investors. However, this alone is not sufficient for security. Factors such as the decentralized artificial intelligence alliance also hold importance. The increase in FET’s development activities indicates ongoing significant work behind the scenes. A notable rise in active addresses in March underscores the project’s potential.
However, there are concerns surrounding the increase in inactive circulation and the downward trend in the average age of cryptocurrencies. In the days to come, it is crucial to monitor for clues indicating the start of an accumulation phase.
Finally, after FET’s price reached $3.5, it experienced a decline. Nonetheless, the elimination of liquidation levels around $3.25 is a significant development. Given that the liquidation level is high in the $2-$2.15 range, if prices retreat to this area, there is a possibility of a trend reversal.
Disclaimer:
The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry a certain level of risk. It is important for individuals to conduct their own research.
