Analyst warns of falling prices for two altcoins

Altcoin analyst Sherpa, known for his accurate predictions, has analyzed the potential prices of two AI-focused altcoins.
According to Sherpa, RNDR and TAO, which play an important role in the artificial intelligence sector, could receive further price drops. While the long-term outlook is optimistic, short-term issues could significantly affect their value.

Is a price correction coming for the Render project?

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Render is an innovative project that allows users to harness the unused processing power of GPUs by rewarding them with RNDR tokens. Altcoin Sherpa notes a potential price correction, pointing to the possibility of RNDR reaching the 0.618 Fibonacci level.
"Great times are coming during the bull market; you have a chance to scale into great projects at key levels. Buy here up to US$6 and be very confident about it."
According to the analyst, the current phase of rising prices could create opportunities for investors, allowing cheap buying ahead of the next price spike. Fibonacci levels are a popular analytical tool in the cryptocurrency world, and their values are closely watched not only by beginners but also by experienced market enthusiasts.

The prospects for buying Bittensor remain optimistic

Bittensor, another project focused on blockchain technology and artificial intelligence, is also on the verge of further decline. According to the analyst, who is followed by more than 200,000 people on social platform X, the TAO price could fall to the 0.50 Fibonacci level. It is likely to find support only at that point.
Although Binance, one of the largest cryptocurrency exchanges, launched TAO on its platform just recently, this event did not bring the expected improvement in terms of the price of this altcoin. On the contrary, the price of the token has fallen by more than 15 percent in the last seven days, which confirms the correctness of Altcoin Sherpa's analysis.
"The listing on Binance was a downward (obvious) event. I expect the price to fall around $400, 0.50 fib and 200d EMA. However, price has already reacted near this level, so I would really like to see this area hold. High volatility will make $320 the next target unless the $400 level holds.

Altcoin Sherpa's forecasts for Render and Bittensor (TAO) prices suggest the possibility of further price declines in the short term. Despite the long-term outlook, investors need to be mindful of the short-term risks associated with these altcoins. For those who are willing to use the price drop as an investment opportunity, the current market situation may be a good time to buy.