Altcoin
Trader Says Render Will Be One of the Strongest Altcoins in the Coming Weeks, Updates Outlook on Three Other Altcoins
A widely followed crypto analyst believes an artificial intelligence (AI)-focused altcoin project is about to outperform the broader market.
Cryptocurrency trader pseudonym Altcoin Sherpa tells its 216,400 followers on social media platform X which has decentralized rendering blockchain GPU Render (RNDR) has a strong market structure.
“RNDR: Still a good place to buy and hold RNDR in my opinion. I think this will be strong in the coming weeks. However, it has no volatility, so it is a terrible active trading vehicle.”
Source: Altcoin Sherpa/X
Looking at his chart, the trader suggests that Render is holding the middle of the trading range as support and is about to break higher.
Render is trading for $10.28 at the time of writing, up nearly 3% over the past 24 hours.
Next, the merchant warns that Lido DAO (I DO), an Ethereum (ET), may soon test the lower Fibonacci retracement levels again.
“LDO: Offers $2.10-$2.30.”
Source: Altcoin Sherpa/X
LDO is trading at $2.33 at the time of writing, down 2.1% over the past 24 hours.
Next is the trader bullish in the short term on the native asset of the Celestia modular blockchain network (TIA). However, he warns that TIA may decline in the coming months due to the upcoming token unlock, which is often perceived as bearish given the new salable supply.
“TIA: In my opinion, this graph looks pretty good. I’m thinking about getting on the train, but I’ll probably be patient. I expect some bullish news so that people buy it before investors get unstuck in a few months. How is exit liquidity generated? Pushing the table first. Don’t hold it long.”
Source: Altcoin Sherpa/X
At the time of writing, TIA is trading at $11.11, up nearly 2% in the last 24 hours.
Finally the merchant He says is bearish overall on the Polkadot interoperability blockchain (POINT).
“A dear friend asked me about the DOT today. Let’s talk about a failed chain and something that succeeded. Will he pump? Yes, it will rise in USDT (probably). Will it outperform the rest of the market? Highly unlikely. I’m not saying you should sell here or anything like that, but if I were exposed I would sell the next pump.
Source: Altcoin Sherpa/X
Polkadot trades for $7.23 at the time of writing, up nearly 2% over the past 24 hours.
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