The intersection between artificial intelligence (AI) and cryptocurrencies continues to present exciting opportunities in the financial world. Altcoins, which are an important example of this intersection, attract the attention of expert analysts. Pentoshi, a successful analyst, shows the altcoin called Render (RNDR) as the latest example of this intersection.
RNDR, which recently moved to the Solana (SOL) network, displays a notable uptrend relative to Pentoshi. The project offers significant potential for users who want to perform complex tasks such as machine learning in the field of artificial intelligence.
Pentoshi notes that the price of RNDR is about to reach its all-time high of $8.78 in November 2021. However, according to the analyst, it may not be a surprise that there are short-term fluctuations and corrections behind this rise. So much so that, although RNDR has great potential to appreciate, volatility is inherent in the cryptocurrency market.
“I think it will engage in price discovery in the very near future, but it wouldn’t be a surprise to see it consolidate and correct over the first few weeks. The middle of this broader range is probably a good area to buy and one I would keep an eye on.”
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The term price discovery refers to a situation where a cryptocurrency is trading at levels never seen before in its history. In this case, when the price of a cryptocurrency like RNDR reaches an all-time high, a new record is set. RNDR is trading at $7.35 at press time.
Another altcoin on the investor’s radar is the leading smart contract platform Ethereum (ETH). Speculation around the possibility of buying a spot market Ethereum exchange-traded fund (ETF) has pushed ETH to $3,500, according to the analyst. can bring closer.
“As we get closer to ETF dates, more people need to speculate. It doesn’t matter if they are approved or not, they just need to participate.”
You can follow the current price movement here.
