The AI narrative is gaining traction in the market right now, with major AI-focused coins like Render (RNDR) and Near Protocol (NEAR) experiencing price surges of over 30% today. According to CoinMarketCap data, the total market capitalization of AI crypto coins now exceeds $37 billion, reflecting the growing interest and investments in this emerging sector.
Meanwhile, Galaxy Fox, a new project that aims to merge gaming, decentralized finance (DeFi), staking, and non-fungible tokens (NFTs) into a single platform, has achieved two significant milestones this week. The project has raised over $4 million in its ongoing presale and sold over 3 million GFOX tokens, showcasing the community's enthusiasm for this project.
Render (RNDR) Price Analysis
In mid-March, NVIDIA's AI conference will feature over 900 sessions and 300 exhibits, potentially fueling the current AI-led narrative among crypto market participants. This anticipation is likely contributing to the recent surge in AI-focused coins like RNDR.
RNDR is currently trading around $9.5 at the time of writing and experienced a remarkable 40% pump today. However, as reported by altFINS, the price faced resistance at $10, which coincides with RNDR's all-time high. The current market capitalization of RNDR stands at approximately $3.6 billion.
altFINS highlighted that the price is currently in an uptrend after a bullish breakout from a channel down pattern, leading to a rally towards $10.00.
They suggest two potential scenarios: either the price breaks above $10.00, signaling a continuation of the uptrend with a potential upside of 20% towards $12.00, or it pulls back to $8.00, presenting an opportunity for another swing trade entry in the uptrend with a potential upside of 25% back to $10.00.
Furthermore, altFINS noted that the trend is bullish across all time horizons (Short-, Medium-, and Long-Term), and the momentum is also Bullish, with the MACD Line above the MACD Signal Line and the RSI above 55. The nearest Support Zone is $8.00 (previous resistance), followed by $6.00, while the nearest Resistance Zone is $10.00, with $12.00 as the next potential target.
Near Protocol (NEAR) Price Analysis
NEAR is currently trading around $5.6 at the time of writing, following a 25% pump today and a remarkable 40% surge this week. NEAR's market capitalization stands at approximately $5.6 billion.
However, in contrast to RNDR, NEAR is still relatively far from its all-time high of around $20, achieved during the 2021 bull run. This indicates that NEAR still has room for further growth to break its previous ATH.
As for their analysis on NEAR, altFINS noted that the price is also in an uptrend and followed a bullish breakout from a channel down pattern, resuming its uptrend and breaking above the $4.60 resistance level, which had previously rejected the price in late December 2023. This breakout is considered a bullish signal.
However, they cautioned that the price has become overbought with an RSI around 70 as it reached the next resistance at $6.00. Consequently, in the near term, they expect the price to potentially pause or experience profit-taking at this level, suggesting that traders should set a price alert.
altFINS further reported that the trend is bullish across all time horizons (Short-, Medium-, and Long-Term), and the momentum is Bullish, with the MACD Line above the MACD Signal Line. However, the RSI is extremely overbought (>80), which could imply that the price may briefly pause or pull back if it reaches resistance levels.
The nearest Support Zone for NEAR is $4.60 (previous resistance), followed by $3.50, while the nearest Resistance Zone is $6.00, with $8.00 as the next potential target.
Galaxy Fox smashes $4 million
Galaxy Fox (GFOX) has achieved two significant milestones this week, raising over $4 million in its ongoing presale and selling over 3 million GFOX tokens. The current price of GFOX is 0.002376 USD, with the next stage set at 0.00264.
Galaxy Fox is a cryptocurrency project that aims to blend gaming, decentralized finance (DeFi), staking, and non-fungible tokens (NFTs) into a single platform.
Built on the Ethereum network as an ERC20 token, Galaxy Fox is designed as a play-to-earn (P2E) platform where users can compete in a web3 running game and earn rewards.
The platform also features an NFT marketplace with limited-edition Galaxy Fox NFTs that enhance the gaming experience and hold value on NFT trading platforms.
Galaxy Fox is committed to rewarding its community. Staking GFOX tokens contributes to the Galaxy Fox Stargate, a reward pool. Through its endless runner game, players can earn GFOX tokens based on their in-game performance, and the top 20% of players each season will receive gifts that can be exchanged for more GFOX.
By integrating financial incentives into the gameplay experience, players have the opportunity toearn rewards based on their in-game performance.
Conclusion
The AI narrative in the cryptocurrency market continues to gain momentum, with major AI-focused coins like RNDR and NEAR experiencing significant price surges. As new projects like Galaxy Fox emerge, blending gaming, DeFi, staking, and NFTs, the industry continues to evolve and offer innovative ways for users to engage and potentially earn rewards.
While technical analysis suggests positive trends and potential upside for RNDR and NEAR, it's essential to exercise caution and conduct thorough research before making any investment decisions. The cryptocurrency market remains volatile ahead of Bitcoin halving in April, and investors should carefully assess their risk tolerance and investment strategies.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale |Join The Telegram Group |Follow Galaxy Fox on Twitter
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