An AI-focused altcoin project is expected to outperform the broader market, according to a popular crypto analyst. Altcoin Sherpa, a pseudonymous trader, believes that Render (RNDR), a decentralized GPU rendering blockchain, has a strong market structure. He suggests that RNDR is a good long-term investment, although it lacks volatility for active trading. Render is currently trading at $10.28, showing a 3% increase in the past 24 hours.
The trader also warns investors about Lido DAO (LDO), an Ethereum staking project, stating that it may soon retest lower Fibonacci retracement levels. LDO is currently trading at $2.33, down 2.1% in the past 24 hours.
Altcoin Sherpa expresses optimism about the near-term prospects of Celestia (TIA), the native asset of a modular blockchain network. However, he cautions that TIA may experience a decline in the coming months due to an upcoming token unlock, which could increase the sellable supply. TIA is currently trading at $11.11, showing a nearly 2% increase in the past 24 hours.
Lastly, the trader reveals a bearish sentiment towards Polkadot (DOT), an interoperability blockchain. He considers it a failed chain and believes it is unlikely to outperform the rest of the market. Polkadot is currently trading at $7.23, with a nearly 2% increase in the past 24 hours.
It is important to note that the opinions expressed by Altcoin Sherpa are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets.
