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Altcoin Predictions: RNDR to $1, BNB Tests $220-$250, LINK Rally Near $5.50

  • Render (RNDR): A closely followed crypto strategist says that the recent uptrend of the blockchain-based rendering protocol appears to be over for now, suggesting it could go down as low as $1.
  • Binance Coin (BNB): The trader encourages traders to think twice about becoming overly bearish on BNB, predicting a potential test around the $220-$250 range.
  • Chainlink (LINK): LINK could ignite a short-term rally should it hit a key support level near $5.50.

Overview of Altcoin Predictions

A well-known crypto analyst has made some predictions concerning three popular Ethereum-based altcoins: Render (RNDR), Binance Coin (BNB), and Chainlink (LINK). According to the trader, RNDR could drop to as low as $1 due to weak trading volume; BNB is expected to stay within its yearly range with a potential test around $220-$250; and LINK may see short-term rally near its key support level at $5.50.

Analysis of Render (RNDR)

The pseudonymous trader Altcoin Sherpa believes that the current uptrend of the blockchain-based rendering protocol Render is coming to an end due to its anemic trading volume in recent weeks. He predicts that prices will eventually drop below $1 in time.

Analysis of Binance Coin (BNB)

Altcoin Sherpa cautions traders not become overly bearish on BNB, citing its long-term stability within its yearly range and noting that this isn’t an ideal area for shorting. He predicts that we may soon see a test around the price point between $220-$250 before any further breakdowns or movement up into the low 300s.

Analysis of Chainlink (LINK)

The crypto trader also shared his outlook on Chainlink, forecasting a bounce around the key support level at $5.50 if reached. He suggests waiting until there is further breakdown or movement up into higher levels before considering any short positions.

Conclusion

In summary, Altcoin Sherpa has given his predictions on three popular Ethereum-based altcoins: Render, Binance Coin and Chainlink, suggesting different strategies for each one depending on their respective market circumstances and potential risks involved with each investment decision.