A closely followed analyst in the cryptocurrency world made significant statements about an AI altcoin in the top 25, predicting a major rally in the coming months. Additionally, he did not hesitate to comment on Bitcoin, the market leader, and two altcoins in the top 5.
Is RNDR Taking Off?
Altcoin Sherpa, a well-known figure in the crypto world, recently made important statements to thousands of cryptocurrency followers on the X application. He suggests that Render (RNDR), a project related to GPUs, could potentially trade at a low range as a support level.
RNDR: I expect this region to hold. $10 is a cheap price. I expect much higher prices in the coming months. I’m still in this.
The analyst, in his chart analysis, suggests that the $10 price level is the bottom of an upper region indicating an upper limit of $12.72.
As of the time of writing, Render was trading around the $10.07 region. The Solana (SOL) based altcoin, ranked 25th, experienced a drop of less than 1% in the last 24 hours.
What Will Be the Price of Bitcoin?
After his RNDR comment, the analyst turned his attention to Bitcoin. He expects a short-term rise on the Bitcoin (BTC) side but indicates that BTC needs to reach higher price regions to understand the upward price movement.
BTC: (the equilibrium of the cryptocurrency range) EQ is generally not where you want to open new long positions, wait for more clarity. Still looks good in the short term.
Bitcoin, after experiencing a slight increase of over 0.3% in the last 24 hours, was trading just below $67,000 at the time of writing.
Analyst’s Comments on Ethereum and Solana
The analyst is also following the price movements of Ethereum (ETH). He suggests that the most voluminous altcoin in the market is facing a crucial resistance amid investor sentiment as of today.
ETH: From a chart perspective, I don’t see much reason to buy. Support/resistance level resistance, 200-day exponential moving average resistance, etc. Also, sentiment is very bad, and ETH holders are sitting in pain while the rest of the market performs quite well. I include myself in this group, which probably means it’s time to buy?
Ethereum experienced a 0.53% increase in the last 24 hours, resulting in a price of $3,114 at the time of writing.
Finally, the analyst stated that he has a long-term bullish outlook on Solana, also known as the ETH killer.
SOL: looks good for higher, but we need to see more follow-through after this 120-150 dollar range break. A month-long cut/consolidation was healthy for this chart, and I still think you should try to accumulate as much as possible.
Solana, after experiencing a 2% increase in the last 24 hours, was trading at $171 at the time of writing.
