The cryptocurrency market remains neutral for now, going back and forth. Leading crypto Bitcoin is struggling at $68,000 while major altcoins are trading slightly higher. In this uncertain environment, an analyst with a large following shared his latest predictions. The analyst says an AI-focused altcoin will outperform the broader market. In addition, the analyst expects a decline for 3 altcoins on his radar.
According to the analyst, RNDR has a strong market structure!
cryptokoin.comAs you can see from , the market is waiting for inflation data from the USA. According to experts, this data will provide some clues for the direction of the market. However, some tokens give bullish signals in their technical pictures. Decentralized GPU rendering Blockchain Render (RNDR) has a market structure that looks strong, says an analyst with the pseudonym Altcoin Sherpa. In this context, the analyst makes the following statement:
RNDR: I think RNDR is still a good place to buy and hold. I think this will be a strong investment in the coming weeks. There is no volatility on it, so it is a bad active trading tool.
According to the chart, the analyst predicts Render holding the middle of the trading range as support. It also suggests that the token is about to break out to the upside. Meanwhile, RNDR was trading at $10.07 at the time of writing, down about 0.6% in the last 24 hours. The token has seen an increase of over 35% on its monthly chart.
Altcoin Sherpa: LDO will test lower levels!
The analyst then looks at Lido DAO (LDO), an Ethereum staking project. Altcoin Sherpa warns that LDO will soon retest lower Fibonacci retracement levels. In this regard, the analyst said, “LDO: 2.10-2.30 dollars are offered.” says.
The analyst is bullish on TIA in the near term, but…
The analyst then discusses the local presence of modular blockchain network Celestia (TIA). The analyst is bullish on TIA in the near term. However, he warns that TIA could decline in the coming months due to an upcoming token unlock, which is generally perceived as bearish given the new tradable supply. In this context, Altcoin Sherpa says:
TIA: I think this chart looks pretty good. I’m thinking of jumping on the train, but I’ll probably be patient. I’m waiting for some bullish news for people to buy into this before investors unlock it in a few months. How do you create exit liquidity? Previously I was pushing the chart up. Don’t keep this for long.
Overall bearish trend for altcoin Sherpa DOT!
Finally, the analyst is generally bearish on interoperability Blockchain Polkadot (DOT). The analyst shares the following evaluation for this opinion:
A close friend of mine asked me about DOT today. It talks about a failed Blockchain and something that makes a rekt. Will it be pumped? Yes, USDT will also rise (probably). Will it outperform the rest of the market? Not likely. I’m not saying you should sell here, but if I were short I’d sell the next pump.
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