Analyst Predicts Push To All-Time Highs for AI-Associated Altcoin, Updates Outlook on Ethereum

17 views 7:38 pm 0 Comments February 26, 2024

A prime analyst who nailed the tip of Bitcoin’s (BTC) 2021 bull market thinks that one synthetic intelligence (AI)-related altcoin is gearing as much as rally to a contemporary report excessive.

Pseudonymous analyst Pentoshi tells his 756,300 followers on the social media platform X that he’s bullish on the native asset of Render (RNDR), a crypto undertaking that goals to supply a decentralized market for Graphics Processing Models (GPUs).

The undertaking, which not too long ago migrated to Solana (SOL), now makes use of its GPU community to present customers the required compute energy to finish duties within the AI subject resembling machine studying coaching.

Based on Pentoshi, RNDR is on the cusp of breaching its all-time excessive of $8.78, which it recorded in November 2021.

“I do assume it is going to enter worth discovery within the very close to future, however wouldn’t be shocked to see it consolidate and proper for just a few weeks first. The center of this bigger vary possible an excellent space to purchase and one thing Ailing be maintaining a tally of.” 

Supply: Pentoshi/X

At time of writing, RNDR is price $7.32.

One other altcoin on the dealer’s radar is the main sensible contract platform Ethereum (ETH). Based on the analyst, the hypothesis surrounding the potential for getting a spot market Ethereum exchange-traded fund (ETF) might ship ETH near $3,500.

“As we get nearer to the ETF dates, extra folks ought to speculate. Approval or not doesn’t matter, simply that they take part.”

Supply: Pentoshi/X

At time of writing, ETH is price $3,144, up over 2.8% within the final 24 hours.

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