Injective (INJ) and Render (RNDR) Outperforming Bitcoin
As bitcoin continues its upward trajectory, there are altcoins that are showing even greater gains. Injective (INJ) and Render (RNDR) are two such altcoins that have been outperforming BTC throughout the crypto bull market so far.
Higher Gains but Greater Volatility
While investing in BTC is considered a safer option, altcoins like INJ and RNDR offer the potential for higher returns. However, it’s important to note that the volatility of these altcoins is significantly higher than that of BTC. When BTC rises, altcoins have the potential to rise even higher, but when BTC falls, altcoins can experience sharper declines.
Injective’s Bullish Flag
Injective is currently in a large bull flag pattern, which has been forming since December 23, 2023. Breaking through resistance at $35 could lead to a significant price increase for INJ, potentially reaching $60.
INJ Resume Upward Trend Against BTC?
Compared to BTC, INJ has been in an uptrend since July 2022. The recent correction in INJ’s price might be coming to an end, and it could begin to outperform BTC once again.
RNDR’s Impressive Gains
RNDR has seen a remarkable 1,300% gain since January 2023, surpassing BTC’s 221% gain over the same period. Although it encountered resistance at the 0.618 fibonacci level, similar to BTC, RNDR’s correction was healthier, indicating strong potential for future growth.
RNDR Looks to Outperform BTC
In the RNDR/BTC pair, RNDR has gained 715% since May 2022 and 305% from January 2023 to date. Currently at a support level, RNDR could be poised to resume its upward trend.
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