Altcoins
Bullish Crypto Trader on Altcoin AI: RNDR, FET, AR, RSS3
- Analysts predict that AI altcoins led by Render (RNDR) and Echelon Prime (PRIME) could rally in the latter part of the year.
- According to him, the PRIME coin is ready for a bull run and it would be better for investors to accumulate it when it drops to $15-11.
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 has reached a market capitalization of $40 billion, causing a price surge of 1.6% as of this writing.
Interestingly, AI-based altcoins are set to rebound in the latter part of the year. A pseudonymous analyst known as Altcoin Sherpa spoke about this, supporting things like that Rendering (RNDR), Fetch.ai (FET), Arweave (AR), and RSS3 (RSS3) are ready for growth. However, coins like RNDR have struggled in recent months.
According to our checks, the asset has failed to return to its all-time high of $13.6 over the past two months after securing that position on March 17. However, RNDR is turning bullish again with a 4% increase over the past 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 to be patient, adjust to the ones you like, and wait. We have seen a fair amount of pullback on many of these and I think there should be some good buying opportunities available in the coming weeks. I myself am still optimistic about this sector.
PRIME Coin and other AI altcoins are on a rally
Another cryptocurrency set for a bull run is Echelon Prime (PRIME). In the last 24 hours, this asset increased by 5% to trade at $17. However, the analyst believes that the $15-11 zone is the best point to accumulate.
PRIME is a coin everyone loves and a good play for this current cycle. We have seen a strong pullback and I personally view the $15-$11 area as a good strong place to accumulate if you like this project. I probably won’t buy it but I will watch. However, a lot of good TA (technical analysis) converges there with key Fibonacci levels 0.50 and 0.618 + 200 day exponential moving average (EMA).
According to analysts, AI-based altcoins have become a topic of discussion for every tech enthusiast as top companies including Google, Microsoft, OpenAI, and XAI enter the market. Recently, Ethereum’s Vitalik Buterin expressed his enthusiasm for AI technology, claiming that “formal code verification and AI-assisted bug finding” is his favorite application of the technology.
One application of AI that I’m excited about is AI-assisted formal verification of code and bug finding. Right now Ethereum’s biggest technical risk is probably bugs in the code, and anything that would significantly change the game would be surprising.
Similarly, the founder of the Frontier crypto wallet, Ravindra Kumar, once said that the rise of opportunities in the AI and Web3 spaces “combines initial interest, potential and hype.”