A top analyst who predicted the end of the 2021 bull market for the leading cryptocurrency Bitcoin (BTC) has indicated that an altcoin related to artificial intelligence (AI) is poised to reach a new record level. The crypto expert also discussed the leading smart contract platform Ethereum (ETH) and shared his price target.
Momentum Building for RNDR
Known by the pseudonym Pentoshi, the crypto analyst revealed to his followers on social media that the native token of Render (RNDR), a cryptocurrency project aimed at providing a decentralized market for Graphics Processing Units (GPUs), is gearing up for an upward trajectory.
The project, which has recently moved to the smart contract platform Solana (SOL) infrastructure, now uses its GPU network to provide the computational power necessary for tasks such as machine learning training in the field of artificial intelligence. According to Pentoshi, RNDR could be on the verge of surpassing its all-time high of $8.78 recorded in November 2021. The analyst stated the following in his remarks:
I think it will enter price discovery very soon, but it wouldn’t be surprising to see it consolidate and correct for the first few weeks. The middle of this broader range is probably a good area to buy and something I will be watching.
$3,500 Price Target for Ethereum
Another altcoin on the investor’s radar is the leading smart contract platform Ethereum. According to the crypto analyst, speculation surrounding the likelihood of a spot market Ethereum exchange-traded fund (ETF) could bring ETH closer to the critical $3,500 area. The analyst finally said:
As we approach the ETF dates, more people need to speculate. It doesn’t matter whether it’s approved or not, just that they participate.
At the time of writing, according to data from the 21milyon.com website, the value of RNDR was trading at $7.32.
