Strategic Buy Zone Identified for Top AI Token Resembling Nvidia in Crypto Market
Crypto expert eyes buy zone for ‘Nvidia of crypto’ AI token
With the majority of assets in the cryptocurrency sector slowing down and consolidating their gains from previous weeks, Render (RNDR) is no different, but the current dip could represent a good opportunity to accumulate some of the ‘Nvidia of crypto.’
RNDR price action analysis. Source: Michaël van de Poppe
According to the analyst’s observations, Render is a “massive project and has yielded a large return,” therefore he was eyeing the above price range for buying into the asset, which at the time represented a 40-50% correction, adding that he wasn’t sure he’ll get the chance, “but if I do, I’ll take it.”
RNDR token price action analysis. Source: Matthew Hyland
Indeed, Render was at that time trading at a price of $10.67, declining from the top of $14 it recorded in late March, and $7 would represent a 50% decrease from that peak. At the moment, RNRD is changing hands at $9.43, placing this crypto asset right below the upper limit of van de Poppe’s range.
RNDR token price 30-day chart. Source: CoinMarketCap
- All things considered, now might be a good time to purchase the RNDR token at a low price before it reverses the trend and returns above its buying zone.
- However, things in the crypto sector can often take unexpected turns, so doing one’s own research and weighing the risks is critical before investing.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.