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Investors have plenty of reasons to be confused about the volatility in the crypto market, especially regarding the dynamism of artificial intelligence coins. Projects like Fetch.ai (FET) and Rendr (RNDR) are among the tokens that have recently attracted great interest and show promise for the future. So, is it more sensible to hold or sell these tokens?
What Can FET and RNDR Offer?
Following analyses of the interaction between social media engagement and Bitcoin prices, artificial intelligence and trading strategies are holding a significant place in the agenda. However, the main question that catches investors’ attention is the performance of cryptocurrencies like FET and RNDR and what they can offer in the coming days.
Recent data from Santiment reveals a noticeable increase in the number of active addresses for Fetch.ai and Rendr. This situation can be directly related to the increasing demand and participation in these cryptocurrencies. However, another point of interest is the tendency of holders to move their tokens, indicating the presence of certain selling pressure.
On the other hand, the re-circulation of old coins and the increase in inactive circulation are also noteworthy developments. However, it remains unclear how effective these metrics will be compared to the increases in December. Rendr’s price remained relatively stable for most of March, but recent selling pressure has put buyers in a difficult position.
What Does the Liquidation Heatmap Say About RNDR?
The liquidation heatmap indicates that RNDR prices have retreated to a certain level, pointing to a significant concentration of liquidation levels. The $8.4-$8.7 range is believed to carry a higher risk of liquidation.
If the downward trend continues, prices could fall below the $8 mark, and the $8.4 and $5.7-$5.9 ranges could offer attractive buying opportunities for long-term investors. However, careful risk management is important during this process. Analysis of Bitcoin‘s price movements calls for investors to be prepared for a potential prolonged downtrend scenario in April.
FET’s Rising Performance
During this critical period, FET’s rising performance on the charts is catching investors’ attention. However, this factor alone is not sufficient for security. Factors such as the decentralized artificial intelligence alliance are also important. The increase in FET’s development activities indicates that significant work continues behind the scenes. A notable increase in active addresses in March shows the project’s potential.
However, the increase in inactive circulation and the downward trend in the average age of cryptocurrencies bring some concerns. In the coming days, clues should be watched to see if the accumulation phase has started.
Finally, after FET’s price rose to $3.5, it experienced a decline. However, the elimination of liquidation levels around $3.25 is an important development. Since 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.
