While the majority of AI cryptos are collapsing, Render Network (RNDR) is attracting attention, despite a 9% drop today. A new ATH is not far off, and experts are predicting a turnaround.
RNDR no longer knows where to go
The crypto triggered a new bullish move by breaking through key resistance last week. But it didn’t last long. IA cryptos suffered a wave of liquidations, and the market collapsed. But not for much longer.
Another victim of the downtrend, Render was down 9% yesterday. However, it broke through major resistance at $8.60 to currently stand at $8.27.
Some experts agree that the situation is far from serious. Despite its fall, the crypto has been trading in a range between $7 and $13.5 for 100 days now. This tells us that it is currently in an accumulation phase. The next rise could enable it to break out of this period and aim much higher.
At the time of writing, a continuation at around $7 is more than feasible. This target is the nearest support, and if it bounces back as analysts expect, it will be the path to a new ATH.
Hard times for IA cryptos?
As you know, this drop in Render is the ideal opportunity to take profits and fill your portfolio before an explosive rise. Which, according to CoinCodex, could take RNDR to $25.
Better still, while the AI crypto sector is in the red, it’s time to join the most promising sector of our year. With market capitalization down nearly 6% and tokens posting losses, it’s shaping up to be a complicated week for them. But remember, the best time to buy crypto is when it’s losing value.
Interesting crypto project – Overdome : The revolution in the world of crypto-currencies and online gaming
Leave a Reply