Render (RNDR) has seen a sharp 15% price decline over the past three days, a move that reflects broader market uncertainty. Despite this, a significant portion of its holders—around 70%—remain in profit, signaling a resilient investor base. However, this profitability could lead to increased selling pressure, as holders might choose to lock in gains. As the price approaches a critical support level, questions arise about whether RNDR can maintain its upward momentum or if a more significant price drop is on the horizon.

Profitability vs. Sell Pressure

The fact that 70% of RNDR holders are currently in profit is a double-edged sword. On the one hand, it indicates that many investors are still holding onto their positions with positive returns. On the other hand, this high profitability could trigger sell-offs if holders decide to take profits, which would put additional downward pressure on the price.

RNDR is now testing a crucial support level around $8.26. Historically, this level has acted as a psychological barrier, where buyers may step in to prevent further losses. However, if the price fails to hold above this support, it could lead to further declines. In the coming days, the behavior of profitable holders will play a significant role in determining whether RNDR can sustain its current levels or if it will fall further.

Shrinking Whale Activity and Retail Enthusiasm

In addition to the price dip, data from IntoTheBlock reveals that whale activity has been decreasing significantly. Large transactions in RNDR have fallen by 79% over the last 24 hours, signaling that major players in the market are less active. This decline in whale participation could suggest a lack of confidence among large investors, which often precedes bearish trends.

Moreover, retail activity appears to be cooling as well. Active addresses, which represent smaller retail investors, have dropped by around 2% in the same period. While this decline is relatively modest, it suggests that enthusiasm among smaller investors is waning, which could further contribute to a loss of momentum for RNDR.

The Importance of the $8.26 Support Level

As Render’s price continues to decrease, all eyes are on the $8.26 support level. If RNDR fails to maintain this critical price point, it could pave the way for further declines. However, if the 70% of holders still in profit choose to hold through this price correction, they could provide the support necessary to stabilize the market.

Interestingly, a pool of 162,340 positions was liquidated at $8.269, signaling the possibility of a price reversal. If these liquidations are absorbed by the market, it could potentially trigger a rally, bringing RNDR back toward higher levels.

Conclusion

Render (RNDR) faces a pivotal moment. With 70% of holders still in profit, the next steps in the price action will largely depend on their decisions. If profit-taking occurs, the $8.26 support level will be tested. On the other hand, if holders continue to back the asset, the support could hold, and RNDR might regain its upward momentum. With waning whale activity and retail participation slowing down, all eyes will be on this key support level in the coming days to determine RNDR’s next move.