Crypto strategist Altcoin Sherpa has made some bold predictions for the future of two altcoins in the artificial intelligence (AI) subsector. With a following of over 215,000 on social media platform X, Altcoin Sherpa is closely watched for his timely calls on the market.
According to Altcoin Sherpa, Render (RNDR) and Bittensor (TAO) are both set to see more downside price action in the near future. For RNDR, Altcoin Sherpa believes the project related to Graphics Processing Units (GPUs) could revisit the 0.618 Fibonacci level before experiencing a bullish reversal. Currently priced at $9.06, Altcoin Sherpa advises traders to buy RNDR from its current level down to $6.
As for TAO, a decentralized blockchain platform focusing on machine learning and AI, Altcoin Sherpa sees the coin dropping to the 0.50 Fibonacci level to find support. With Binance recently announcing trading services for TAO, the coin is currently valued at $479.76. Altcoin Sherpa warns that heavy volatility could push TAO down to $320 if the $400 level cannot hold.
Lastly, Altcoin Sherpa has his eye on the interoperability protocol Prom (PROM). He suggests that PROM may experience a significant sell-off event if it fails to maintain its range support around $9.45. Currently priced at $11.07, Altcoin Sherpa is cautious about PROM’s future price action.
With these predictions in mind, traders and investors in the cryptocurrency market will be closely watching the price action of RNDR, TAO, and PROM in the coming days. Altcoin Sherpa’s insights provide valuable guidance for those looking to navigate the volatile world of altcoin trading.
