Altcoins
Crypto Trader bullish on Altcoins AI: RNDR, FET, AR, RSS3
- The analyst predicts that AI altcoins led by Render (RNDR) and Echelon Prime (PRIME) could rebound in the latter part of the year.
- According to him, PRIME coin is ready for a bull run and it would be better for investors to accumulate it when it drops to between $15 and $11.
The growing demand for artificial intelligence (AI) has had a drastic impact on related cryptocurrencies, as new technologies and advancements dramatically enter the market. According to our data, the AI and Big Data category of the entire ecosystem reached a market capitalization of $40 billion, causing a price increase of 1.6% at the time of publication.
It is fascinating to see that AI altcoins are expected to rally during the latter part of the year. A pseudonymous analyst known as Altcoin Sherpa spoke on this, affirming that people like Rendered (RNDR), Recover.ai (FET), Arweave (AR), and RSS3 (RSS3) are ready to grow. However, parts like the RNDR have struggled in recent months.
According to our checks, the asset has failed in the last two months to return to its all-time high of $13.6 after obtaining this position on March 17. However, RNDR is back on an upward path with an increase of 4% over the last 24 months. hours, 2.8% in the last seven days and 6% in the last 30 days.
For Altcoin Sherpa, there would be perfect buying opportunities in the coming weeks.
The game right now is just about being patient, adjusting the ones you like, and waiting. We’ve seen a notable pullback on many of them and I think there should be some decent buying opportunities in the coming weeks. I myself am still optimistic about this sector.
PRIME Coin and other AI altcoins ahead of a rally
Another crypto predicted for a bull run is Echelon Prime (PRIME). In the last 24 hours, this asset jumped 5% to trade at $17. However, the analyst believes that the $15-$11 zone is the best point to accumulate.
PRIME is a coin that everyone loves and a good game for this current cycle. We have seen a strong pullback and I personally view the area between $15 and $11 as a good place to accumulate value if you like this project. I probably won’t buy but I’ll watch. Many good TAs (technical analysis) converge there, however, with the key Fibonacci levels of 0.50 and 0.618 + 200-day exponential moving average (EMA).
According to analysts, AI altcoins have become a talking point for every tech enthusiast as major companies including Google, Microsoft, OpenAI, and XAI enter the market. Recently, Ethereum’s Vitalik Buterin expressed his enthusiasm for AI technology, saying that “formal code verification and AI-assisted bug finding” is his favorite application of the technology.
One application of AI that excites me is formal code verification and AI-assisted bug finding. Right now, Ethereum’s biggest technical risk is probably code bugs, and anything that could significantly change the game on that would be incredible.
Similarly, the founder of crypto wallet Frontier, Ravindra Kumar, once said that the increase in opportunities around the AI and Web3 spaces “combines early interest, potential and hype.”