In the cryptocurrency market, the bulls are charging with all their might. Leading crypto Bitcoin has made a vertical climb to levels it hasn’t seen in more than 2 years. The leading altcoin Ethereum strengthens its position above 3 thousand dollars. Therefore, the altcoin market continues to show strength. In this bullish atmosphere, analysts are pointing higher for some tokens. An analyst who sees the end of Bitcoin’s (BTC) 2021 bull market says an altcoin related to artificial intelligence (AI) is poised to rise to a new record high. The analyst also predicts that Ethereum will continue its path.
“RNDR is on the verge of breaking the ATH level of $8.78!”
cryptokoin.comAs you can see from , morale is high in the market. The leading crypto Bitcoin broke the barriers in one fell swoop. According to many analysts, it is likely to continue on its way. Amid this positive sentiment, an analyst with the pseudonym Pentoshi says that Render (RNDR), a crypto project that aims to provide a decentralized market for Graphics Processing Units (GPUs), is bullish on its local presence.
Rendering recently switched to Solana (SOL). The project now uses the GPU network to provide users with the processing power necessary to complete tasks in the field of artificial intelligence, such as machine learning training. According to Pentoshi, RNDR is on the verge of surpassing the all-time high of $8.78 recorded in November 2021. In this context, the analyst makes the following statement for the altcoin:
I think it will engage in price discovery in the very near future. But I wouldn’t be surprised to see it consolidate and improve for a few weeks first. The middle of this wide range is probably a good area to buy. Also, this is something to consider.
Meanwhile, at the time of writing, RNDR was trading at $7.34. The altcoin gained 3.5% and 17.7% on its daily and weekly charts. Reaching the target stated by the analyst means an increase of approximately 20%.
Pentoshi marks $3,500 for the leading altcoin
Another altcoin on the analyst’s radar is Ethereum (ETH), the leading smart contract platform. According to the analyst, speculation surrounding the possibility of a spot market Ethereum exchange-traded fund (ETF) could push ETH closer to $3,500. In this regard, the analyst makes the following statement:
As ETF dates get closer, more people will speculate. It doesn’t matter if they are approved or not, they just need to participate.
Meanwhile, during the summer, ETH was changing hands at $3,250, up 6.5% in the last 24 hours. Reaching the level pointed out by the analyst means a run of approximately 10% for the altcoin.
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