Cryptocurrency investors may find themselves puzzled by the volatility in the market, particularly when it comes to artificial intelligence coins like Fetch.ai (FET) and Rendr (RNDR). These projects have recently gained significant interest and show promise for the future. This raises the question of whether it is more advisable to hold onto or sell these tokens.
What Can FET and RNDR Offer?
With the growing importance of artificial intelligence and trading strategies, as demonstrated by the relationship between social media engagement and Bitcoin prices, investors are curious about the performance and potential of cryptocurrencies like FET and RNDR.
Recent data from Santiment reveals a significant increase in the number of active addresses for Fetch.ai and Rendr, which can be attributed to the rising demand and participation in these cryptocurrencies. However, it is worth noting that holders are also moving their tokens, indicating some selling pressure.
Additionally, the re-circulation of old coins and the rise in inactive circulation are noteworthy developments. However, it remains uncertain how these metrics will compare to the increases seen in December. While Rendr’s price remained relatively stable in March, recent selling pressure has made it challenging for buyers.
What Does the Liquidation Heatmap Say About RNDR?
The liquidation heatmap indicates that RNDR prices have declined to a certain level, suggesting a concentration of liquidation levels. The $8.4-$8.7 range is considered to carry a higher risk of liquidation.
If the downward trend continues, prices may drop below the $8 mark, presenting attractive buying opportunities in the $8.4 and $5.7-$5.9 ranges for long-term investors. However, careful risk management is crucial during this process. Analysis of Bitcoin’s price movements suggests that investors should be prepared for a potential prolonged downtrend scenario in April.
FET’s Rising Performance
FET has been gaining attention for its increasing performance on the charts during this critical period. However, investors should not rely solely on this factor for security. Factors such as the decentralized artificial intelligence alliance also play a significant role. The rise in FET’s development activities indicates ongoing work behind the scenes. The notable increase in active addresses in March highlights the project’s potential.
However, concerns arise from the increase in inactive circulation and the downward trend in the average age of cryptocurrencies. In the coming days, it will be important to watch for clues indicating whether the accumulation phase has begun.
Finally, after FET’s price reached $3.5, it experienced a decline. Nevertheless, the elimination of liquidation levels around $3.25 is a significant development. Since the liquidation level is high in the $2-$2.15 range, there is a possibility of a trend reversal if prices retreat to this area.
Disclaimer:
The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry associated risks. It is advisable for investors to conduct their own research.