Render Bulls Battle Against Rising Bear Pressure Near $1.25

Render (RENDER) is facing intense selling pressure after a large Binance deposit of $5.78 million worth of tokens, but buyers are still showing resilience.

The transfer from Fireblocks came at a time when RENDER was already making lower highs and lower lows on the daily chart, leaving buyers with limited support levels before $1.25.

Despite the increase in exchange liquidity, spot outflows provided an important counterweight to the deposit, indicating that net withdrawals are still occurring despite the separate Binance deposit.

Buyers have continued to outnumber aggressive sellers in the 90-day Spot Taker CVD, but this hasn't translated into a price reversal. However, continued outflows have depleted exchange supply elsewhere and provided some support.