The prices of cryptocurrencies continue to experience fluctuations, with Bitcoin recently witnessing a drop followed by a rapid recovery. While these events unfold in the market, analysts are providing their comments on various altcoins. One particular analyst, known as Altcoin Sherpa, has shared his views on three different altcoins.
Altcoin Sherpa maintains his long-term optimism about an AI-related altcoin called Render (RNDR), despite some warnings and question marks noted on his chart. In his statement, he tells his thousands of followers that RNDR is the best AI choice in the current market cycle. The project’s website describes RNDR as the project’s native token, which was trading at $10.78 at the time of writing and continues to interest investors.
Altcoin Sherpa also shares his views on Bittensor (TAO), which is a decentralized blockchain platform focused on machine learning and artificial intelligence. However, he notes that the asset’s chart currently reflects a “scary” structure. As of the time of writing, TAO continues to trade at $440.47, ranking 39th among cryptocurrencies, and has dropped about 1% in the last 24 hours.
Altcoin Sherpa also expresses his views on Wormhole (W), which is positioned as an inter-chain communication protocol. According to the analyst, the period when W’s price rose above the $0.72 resistance was merely a fake rally, and the price then dropped to $0.587. As of the time of writing, W has risen by 0.54% after exceeding the mentioned level and is now trading at $0.6534.
It is important to note that the information contained in this article does not constitute investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.