Investors are facing confusion in the crypto market, particularly when it comes to artificial intelligence coins. Tokens like Fetch.ai (FET) and Rendr (RNDR) have gained attention and show promise for the future. This raises the question of whether it is more sensible to hold or sell these tokens.
What Can FET and RNDR Offer?
The role of artificial intelligence and trading strategies in the crypto market has become a significant topic of discussion, especially after analyzing the relationship between social media engagement and Bitcoin prices. However, the key concern for investors is the performance of cryptocurrencies like FET and RNDR and what they can bring to the table in the near future.
Recent data from Santiment shows a notable increase 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’s also worth noting that token holders are moving their tokens, indicating some selling pressure.
Additionally, the recirculation of old coins and the rise in inactive circulation are important developments to monitor. It remains uncertain how these metrics will compare to the increases observed in December. While Rendr’s price remained relatively stable in March, recent selling pressure has posed challenges for buyers.
What Does the Liquidation Heatmap Say About RNDR?
The liquidation heatmap reveals that RNDR prices have declined to a certain level, indicating a significant 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 could drop below $8, and the $8.4 and $5.7-$5.9 ranges could present attractive buying opportunities for long-term investors. However, it is crucial to practice careful risk management 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’s increasing performance on the charts has caught the attention of investors during this critical period. However, this alone is not enough for security. Factors like the decentralized artificial intelligence alliance also hold significance. The rise in FET’s development activities indicates that significant work is happening behind the scenes. The notable increase in active addresses in March demonstrates the project’s potential.
However, concerns arise from the increase in inactive circulation and the downward trend in the average age of cryptocurrencies. It is important to watch for clues in the coming days to determine if the accumulation phase has begun.
Finally, after FET’s price rose to $3.5, it experienced a decline. However, the elimination of liquidation levels around $3.25 is a significant development. Since the liquidation level is high in the $2-$2.15 range, a trend reversal is possible if prices retreat to this area.
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 risks. It is recommended to conduct thorough research before making any investment decisions.
