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“Nvidia of crypto” targets $20 ahead of earnings call
With the majority of assets in the cryptocurrency sphere recording a bullish sequence, things are improving for specific artificial intelligence (AI), also known as the “Nvidia of crypto,” which is eyeing big gains as a major earnings call awaits.
More precisely, the rendering (RNDR), often called the “Nvidia of crypto” due to its specialization and explosive growth similar to that of Nvidia (NASDAQ: NVDA), is aiming for $20, according to observations shared by pseudonymous crypto analyst D0c Crypto in a Message on May 21.
Rendering Price Forecast 2024
In fact, the crypto The expert also pointed out that Render’s stochastic relative strength index (ROI) demonstrates oversold conditions “every week,” adding that Nvidia’s first-quarter fiscal 2025 earnings report, which many expect to be overwhelmingly positive, will launch on May 22, perhaps triggering the “AI 3.0 season”.
Perform price action analysis. Source: Cryptocurrency D0c
Rendering price analysis
For now, Renders is changing hands at a price of $11.04, suggesting an 8.16% increase over the past 24 hours, as well as an 8.57% advance over the previous seven days, as it accumulates a gain of 23.45% on its monthly chart. , according to the latest data from May 21.
Notably, Nvidia has long positioned itself as the leading provider of graphics processing units (GPUs), while crypto asset Render is part of a decentralized GPU network aimed at disrupting the rapidly growing market for 3D rendering in virtual worlds, augmented reality (AR) and metaverse.
Ultimately, through its mission and continued efforts, the “Nvidia of crypto” could indeed reach its next price target at $20 and continue beyond, but caution is advised, and doing its own research is essential when investlike things in the cryptoverse can sometimes change on a whim.
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