In a recent analysis, a well-known cryptocurrency analyst dubbed Altcoin Sherpa shared insights on two cryptocurrencies, RNDR and TAO, within the AI sector. Altcoin Sherpa predicts potential downward movements for Render (RNDR) and Bittensor (TAO), along with a cautious outlook for Prom (PROM).

Regarding RNDR, Altcoin Sherpa highlighted its association with Graphics Processing Units (GPUs) and suggested that it might revisit the 0.618 Fibonacci level before resuming its upward trajectory. The analyst recommended considering buying RNDR within a range up to $6, expressing confidence in its long-term prospects.

On the other hand, Altcoin Sherpa expressed concern about Bittensor’s TAO, indicating potential further declines and identifying the 0.50 Fibonacci level as a potential support zone. The analyst warned that if TAO fails to hold the $400 support level amid increasing volatility, it could drop further to $320.

In addition to RNDR and TAO, Altcoin Sherpa examined Prom’s PROM, noting a significant likelihood of selling pressure if it fails to maintain support around $9.45. Despite recent fluctuations, PROM bounced off its 200-day exponential moving average, a crucial zone for investors. Altcoin Sherpa emphasized the importance of PROM staying within its designated range to avoid triggering a significant pullback.

In conclusion, Altcoin Sherpa's analysis provides valuable insights into the potential movements of RNDR, TAO, and PROM within the AI sector of the cryptocurrency market. Investors are advised to carefully consider these predictions and monitor price levels accordingly.