Has AI Boom Restored As RNDR And FET Price Record Huge Gains?

The post Has AI Boom Restored As RNDR And FET Price Record Huge Gains? appeared first on Coinpedia Fintech News

The crypto market continues to display increased price volatility with top altcoins displaying significant price fluctuations in their respective portfolios. Moreover, following the release of the CPI data, the market experienced a bullish price action.

Moreover, top Artificial Intelligence (AI) tokens such as Render and Fetch.ai recorded a bullish jump in their respective portfolios after trading under a bearish sentiment for about a month. This gives its investors a sign of relief and a high possibility of positive price action in the coming time.

Let’s go as, in this article, we have covered the market analysis and short-term price targets of Render (RNDR) and Fetch.ai (FET) crypto tokens.

Render Token On The Verge Of Testing Its Important Resistance Level:

The RNDR price has displayed a negative price action by recording a correction of 16.37% within the past seven days and 14.82% over the past 30 days. However, the altcoin has regained momentum and has recorded a jump of approximately 5% within the past day.

TradingView: RNDR/ USDT

The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram, indicating increased price action for the altcoin in the crypto space. However, the averages constantly decline, suggesting a mixed sentiment for this week’s RNDR coin price.

If the bulls push the Render price above the resistance level of $9.450, the AI token will move toward its upper resistance level of $11760 in the coming time. Conversely, if the bears overpowered the bulls, the Render crypto will plunge toward its crucial support level of $7.325 this month.

Fetch.AI Records A Bullish Bounce Back:

The FET price displayed a bullish price action by adding approximately 6% to its portfolio within the past day. Notably, the altcoin had recorded a correction of 23.10% within the past seven days and 21.15% over the past 30 days.

TradingView: FET/ USDT

With a trading price of $1.638, a circulating supply of 848,193,896 FET tokens, and a market cap of $1.385 Billion, the Fetch.ai price has successfully claimed the 64th spot in the list of top 100 cryptocurrencies by market cap.

The RSI continues to hover close to its oversold range, indicating a weak price action for the Artificial Intelligence (AI) token in the crypto market. Furthermore, the average displays a constant decline, indicating a negative price sentiment for the FET coin price.

If the bulls regain momentum, the Fetch.AI price will prepare to retest its upper resistance level of $2.369. Negatively, if the bears continue to dominate the market, the FET crypto will plunge toward its crucial support level of $1.285.