RENDER experienced significant exchange pressure after Fireblocks transferred 4.446 million tokens valued at around $5.78 million directly into Binance. According to reports from AMBCrypto, this large deposit came as RENDER was already facing ongoing selling pressure, with the price making lower highs and lower lows on the daily chart. The transfer added to available exchange liquidity during a time when RENDER had limited capacity for additional weakness, reinforcing concerns about near-term supply but not creating a new cause for the bearish structure.
Despite the large Binance deposit, RENDER registered Spot Netflows of about -$1.05 million, as reported by AMBCrypto. This divergence prevented the custody transfer from defining the entire supply picture, as aggregate exchange flows reflected net withdrawals despite the separate $5.78 million deposit. The 90-day Spot Taker CVD remained buyer-dominant, reflecting that aggressive buyers continued to outnumber aggressive sellers, though there was no corresponding price reversal from takers.
Open Interest rose 8.66% to $46.33 million, indicating growing leveraged interest according to AMBCrypto reports. The OI-Weighted Funding rate hit 0.0058%, maintaining a long positioning bias and suggesting more bullish leveraged exposure. Traders expanded their exposure despite RENDER's declining market structure, with buyers continuing to accumulate in the support area. However, the rising Open Interest also increased liquidation sensitivity around $1.25, with expanding leverage potentially amplifying either direction once price moves decisively beyond current structure.
RENDER approached $1.25 after sellers had already broken the previous $1.432 support during the prolonged downtrend, as reported by AMBCrypto. The RSI had fallen to 29.40 while the moving average remained higher at 33.12, signaling oversold conditions that increased rebound potential. However, MACD kept the technical picture bearish near support, with the MACD line reaching -0.006 and remaining below the -0.057 signal line. A $1.25 defense could reopen recovery toward $1.432, with $1.645 as the next meaningful recovery hurdle, but losing $1.25 would expose $1.00 support.
