The rise of RNDR
RNDR (Render) has seen a significant surge in value, with a year-to-date gain of over 1100%. This increase has occurred in three waves, propelling the price from the bear market. The latest surge has been ongoing since mid-August, driving the price up by 280% to $4.73. Breaking its all-time high of $8.79 from November 2021 is a possibility during this current bull market.
According to Trading View, the chart indicates that RNDR has recently broken out of a long-term W pattern that has been forming since early February. A retest of the top trend line is likely, followed by an upward continuation.
The dominance of FET in AI
Fetch.ai (FET) stands out in the AI crypto niche during this bull market, registering a 650% gain since the start of 2023. Although its upward movement began in early November, it has reached around 1000% gains when measured from that point.
Trading View’s chart for FET reveals that it has reached the top of its own W pattern while encountering strong resistance. A successful break and confirmation of these two major resistance points could have a highly bullish impact on FET. If achieved, FET may rise to its previous high of $1.20 from the last crypto bull market.
Hot Take: RNDR and FET poised for breakout
With bitcoin preparing for new yearly highs, altcoins like RNDR and FET are prime candidates for their own breakout moments. RNDR’s impressive gains and potential to surpass its previous all-time high make it an exciting prospect. Similarly, FET’s dominance in the AI crypto niche and the possibility of surpassing its previous high suggest a promising future. Keep an eye on these altcoins as they continue to make waves in the market.
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