A closely followed analyst in the crypto world made significant statements about an AI altcoin in the top 25, predicting a major rally in the coming months. Additionally, the analyst did not hesitate to comment on Bitcoin, the market leader, and two altcoins in the top 5.
Is RNDR Taking Off?
Renowned crypto figure Altcoin Sherpa recently shared important insights with thousands of crypto followers on the X platform. He highlighted that Render (RNDR), a project associated with GPUs, might trade within 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’s chart analysis suggests that the $10 price level is the bottom of an upper region marked by a $12.72 upper limit.
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 Bitcoin’s Price?
RNDR comments were followed by the analyst’s focus on Bitcoin. He expects a short-term rise for Bitcoin (BTC) but believes BTC needs to reach higher price regions for a clearer upward price movement.
BTC: (crypto’s range equilibrium) EQ is generally not where you want to open new long positions, wait for more clarity. Still, it looks good in the short term.
Bitcoin was trading just below $67,000 at the time of writing, after experiencing a slight increase of over 0.3% in the last 24 hours.
Analyst’s Ethereum and Solana Commentary
The analyst is also monitoring Ethereum’s (ETH) price movements. He suggests that the most voluminous altcoin in the market is facing a crucial resistance amid investor sentiment.
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 while the rest of the market is performing quite well, ETH holders are sitting in pain. I include myself in this group, which probably means it’s time to buy?
Ethereum was priced at $3,114 at the time of writing, following a 0.53% increase in the last 24 hours.
Lastly, the analyst expressed a long-term bullish outlook for Solana, also known as the ETH killer.
SOL: It looks good for higher, but after a break from this $120-150 range, we need to see more follow-through. A one-month break/consolidation was healthy for this chart, and I still think you should try to accumulate as much as possible.
Solana was trading at $171 at the time of writing, following a 2% increase in the last 24 hours.
