Cryptocurrency prices are still experiencing fluctuations, with Bitcoin recently seeing a drop followed by a quick recovery. As the market continues to evolve, analysts are sharing their insights on altcoins. One analyst has provided his thoughts on three different altcoins.
Will RNDR Token Rise?
Altcoin Sherpa, a popular crypto analyst, remains optimistic about an AI-related altcoin called Render (RNDR), despite some cautionary notes and uncertainties on his chart. In a statement to his thousands of followers, he expressed that RNDR is the top AI choice in the current market cycle.
According to the project’s website, RNDR is described as the project’s native token. At the time of writing, RNDR was trading at $10.78, a level that continues to attract investors.
Analyst’s Comments on Bittensor (TAO)
Altcoin Sherpa also shared his thoughts on Bittensor (TAO), a decentralized blockchain platform that focuses on machine learning and artificial intelligence. However, the analyst noted that the asset’s chart currently displays a “scary” structure.
As of the time of writing, TAO is trading at $440.47, ranking 39th among cryptocurrencies in terms of market value. It has experienced a decrease of about 1% in the last 24 hours.
Analyst’s Comments on Wormhole (W)
Altcoin Sherpa also provided his insights on Wormhole (W), which is positioned as an inter-chain communication protocol. The analyst believes that the period when W’s price rose above the $0.72 resistance level was just a false rally, as the price subsequently dropped to $0.587.
As of the time of writing, W has experienced a 0.54% increase after surpassing the mentioned level, and it is currently trading at $0.6534.
Disclaimer: The information in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research. Stay updated with our news on Telegram, Facebook, Twitter, and Coinmarketcap.
