BTC price is searching for a bottom as expected and recently fell to $61,470. The last resistance test failed. As we’ve seen for months, prices quickly retreat after resistance attempts. Therefore, the recent drop is not surprising. Those who lost hope in a rapid rise have been using the peaks as short-selling opportunities for a while.
Tomorrow, the NVIDIA earnings report will be released, which could cause price fluctuations in some altcoins.
Artificial Superintelligence Alliance (FET)
ASI was born from the merger of three major AI tokens and made quite a splash. NVIDIA earnings reports make these altcoins and the current unified token highly sensitive. For example, before the previous announcement, the FET Coin price dropped to $1.9 but rose to $2.5 the next day. The daily chart is relatively favorable for further increases, but a new BTC shock drop could overshadow even a good earnings report.
The awesome oscillator is positive, and FET Coin could increase this week with a good NVIDIA earnings report. The target on the daily chart is $1.93 with closures above $1.7. However, in a bearish scenario, sales could drop to $1.13.
NEAR Protocol (NEAR)
Added to the AI trust by Grayscale, NEAR Coin is among the altcoins that could price in this development. It experienced double-digit growth in the last 7 days due to earnings report excitement. Although it tried to surpass $5.03, the altcoin fell to $4.91. If the upward momentum continues, it could accelerate towards $5.7 with a good report.
In a bearish scenario, the possible target will be $4.24.
Render (RNDR)
Since November 2022, RNDR Coin has significantly benefited from the excitement in the AI field. With a price of $6.17, it is relatively strong compared to others. It increased by 32% in the last 24 hours, naturally leading to profit-taking. We have been writing for weeks that the NVIDIA news could be priced in advance, and this expected scenario occurred here as well.
The strong support at $4.45 suggests that if momentum is maintained, RNDR Coin price could climb to $7.17. Experts are hopeful about the NVIDIA earnings report, but since there has been some pre-report pricing, a sell-the-news scenario could also occur.
