自2023年11月以来的渲染（渲染）代币价格下跌了70％

3月4日，星期二，渲染（渲染）代币价格下跌至3.44美元，标志着其历史最高水平的70％。

The Render (RENDER) token price has dropped to its lowest level since November 2023, and it could be setting up for a rebound if history repeats.

自2023年11月以来，渲染（渲染）代币价格已下降到其最低水平，如果历史重复，它可能会为反弹设置。

Key Takeaways:

关键要点：

Render token price dropped to a 19-month low earlier this week.

本周早些时候，渲染令价格下跌至19个月的低点。

On-chain data reveals that the token could face challenges as it attempts to trade higher.

链上的数据表明，代币试图交易更高时可能会面临挑战。

The MVRV Long/Short Difference is a useful indicator for determining when the cycle has switched to a bull phase or slumped into a bear market.

MVRV长/短差是确定周期何时改用牛相或跌入熊市的有用指标。

For the past seven months, the Render token price has lost more than 70% of its all-time high, dropping to as low as $3.44 earlier this week. This is the lowest level for the token since October 2022, the period when the 2022 bear market bottomed before recovery began.

在过去的七个月中，渲染令价损失了其历史最高高的70％以上，本周早些时候下跌至3.44美元。这是自2022年10月（2022年熊市开始恢复之前触底的时期）以来令牌的最低水平。

This positions the token in a similar spot, sparking interest in whether history could repeat with a rebound, or if there is more downside ahead.

这将令牌定位在类似的位置，引发了对历史是否可以反弹的兴趣，或者是否有更多缺点。

RENDER Increase Meets an Obstacle

渲染增加遇到障碍

Although the RENDER token price has recovered above $4 following an 8% hike in the last 24 hours, on-chain data shows it could face challenges as it attempts to trade higher.

尽管在过去24小时内加息8％之后，渲染的代币价格在4％之后恢复了4美元，但链上的数据表明，它可能会在尝试更高的交易时面临挑战。

One metric revealing this potential challenge is the Market Value to Realized Value (MVRV) Long/Short Difference.

一个揭示这一潜在挑战的指标是实现价值（MVRV）长/短差异的市场价值。

According to a report by crypto analytics firm Santiment, the MVRV Long/Short Difference usually tells when the cycle has switched to a bull phase or slumped into a bear market.

根据Crypto Analytics公司Santiment的一份报告，MVRV长/短差通常告诉周期何时转变为公牛阶段或跌至熊市。

When the metric is positive, it means that long-term holders have more unrealized gains than their short-term counterparts. This is typically a sign of a bullish market.

当指标为正时，这意味着长期持有人的收益比短期同行。这通常是看涨市场的标志。

However, when the metric is negative, it means that short-term holders have more gains, which is bearish for the price.

但是，当指标为负时，这意味着短期持有人的收益更高，这对价格来说是看跌的。

The image above shows that the MVRV Long/Short Difference slid to the negative region mid-February at -0.167.

上图显示，MVRV长/短差滑到2月中旬的负区域，为-0.167。

However, RENDER’s price may not yet have reached its bear market bottom. Historically, recoveries have begun when the metric hovered between -0.19 and -0.21.

但是，渲染的价格可能尚未达到其熊市的最低点。从历史上看，当指标徘徊在-0.19和-0.21之间时，回收率已经开始。

The metric may need to drop to this range if history repeats before a full rebound kicks in.

如果历史重复出现，则指标可能需要降至此范围。

Token Undervalued

令牌被低估了

Meanwhile, the MVRV ratio also seems to support this. The image below shows it is on the verge of breaking above the zero line.

同时，MVRV比率似乎也支持这一点。下图显示，它在零线以上断裂的边缘。

The MVRV ratio shows whether an asset is undervalued or overvalued.

MVRV比率显示资产是被低估还是被高估。

When it is extremely high, it means that there are many unrealized profits, which could trigger selling pressure. But when it is low, it means that holders might be unwilling to sell, which could be bullish.

当它非常高时，这意味着有许多未实现的利润，这可能会触发销售压力。但是，当它很低时，这意味着持有人可能不愿出售，这可能是看好的。

As it stands, it is the latter for the token. Thus, if the 30-day MVRV ratio finally breaks above the zero line, the RENDER token price might trade higher in the short term.

就目前而言，它是令牌的后者。因此，如果30天的MVRV比最终突破了零线，则渲染令价格可能会在短期内更高。

Looking at the daily chart also supports this potential for a higher price. According to the image below, the Chaikin Money Flow (CMF) has risen above the zero signal line.

查看每日图表还支持更高的价格。根据下图，Chaikin货币流量（CMF）已上升到零信号线上。

This position indicates rising accumulation, signaling that some market participants have bought the RENDER dip. Should this continue, the RENDER token price might rise much higher than $4.

该职位表明积累的增加，表明某些市场参与者购买了渲染量。如果继续这样做，渲染的代币价格可能会上涨高于4美元。

Considering the Fibonacci indicator, the possible level for the price to reach could be $6.54 if buying pressure intensifies.

考虑到斐波那契指标，如果购买压力加剧，价格可能达到6.54美元。

However, if RENDER fails to break the $5.11 resistance, the value could decline to $3.28.

但是，如果渲染量未能打破5.11美元的电阻，则该值可能会下降至3.28美元。