Cryptocurrency market experts, renowned for their insightful analyses, continue to offer daily commentary on the market. These predictions gain significant attention, especially during periods of price volatility. Notably, a well-known analyst recently cautioned that an altcoin with a focus on artificial intelligence (AI) might outperform others in the broader market.
Will the RNDR token experience a rise? Altcoin Sherpa, in their analysis on X, highlighted Render (RNDR), a decentralized GPU operating blockchain, and observed that it is displaying a strong market structure. Render has managed to maintain its price range as support, leading the analyst to suggest the possibility of an upward breakout. Additionally, Render has been finding buyers at $10.02, despite experiencing a slight drop of approximately 3.29% in the past 24 hours.
Moving on from RNDR, the analyst shifted their focus to Lido DAO’s native token LDO, which serves as an Ethereum (ETH) staking platform. The analyst predicts that LDO may soon test lower Fibonacci retracement levels.
Next, the analyst expressed a bullish sentiment towards TIA, the native token of the modular blockchain network Celestia. However, they also warned that TIA might face a decline in the coming months due to the upcoming locked supply. At the time of writing, TIA was trading at $10.74, with a slight drop of approximately 0.78% in the past 24 hours.
Lastly, the analyst issued a cautionary statement to investors regarding Polkadot (DOT), one of the market’s well-known high-volume projects. They predicted a bearish outlook for Polkadot. Currently, Polkadot is trading at $7, experiencing a 2.12% drop in the past 24 hours. Following the decline, the market cap fell to $10 billion, while the 24-hour trading volume reached $218 million after a 10% drop.
It is important to note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making any investment decisions. Stay updated with our news on Telegram, Facebook, Twitter, and Coinmarketcap.