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Here’s Why Render (RNDR) and Near Protocol (NEAR) Prices Rally; Galaxy Fox Hits Presale Milestones

Press Releases Crypto News CryptoDaily UK Here’s Why Render (RNDR) and Near Protocol (NEAR) Prices Rally; Galaxy Fox Hits Presale Milestones

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 Lin

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Author: Crypto Daily

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