Render (RNDR) and Kaspa (KAS) biggest altcoin gainers, but which is the best bet?

As a researcher with a background in analyzing cryptocurrency market trends, I’ve been closely monitoring the performance of various altcoins over the past year. And based on my observation and analysis of the $RNDR and $KAS charts, I believe that both coins have shown impressive gains and have the potential to continue outperforming other altcoins.

Over the past year, RNDR and KAS have ranked among the top performing altcoins with substantial price increases. However, predicting which coin will continue to outperform in the upcoming 12 months can be uncertain. To make an informed decision, consider conducting thorough research on each coin’s fundamentals, team, partnerships, and market conditions. It is essential to remember that investing carries risk, and past performance does not guarantee future results.

Memecoins outperform but some altcoins are coming up on the rails

In the past year, memecoins have stood out as the most profitable niche in the cryptocurrency market. Among them, $WIF, $BRETT, and $BONK have surpassed the gains of any other crypto within the top 100 by market capitalization.

“Despite this, memcoins are merely speculative investments. At some point, each one will reach its peak, and when that happens, investors in meme tokens may rush to sell simultaneously.”

When it comes to essential characteristics and practical use, a few alternative coins stand out from the crowd with exceptional performance. Among them are RNDr and Kas.

$RNDR has huge support

The weekly chart of RNDR‘s pairing with USD shows great potential. A significant support level exists at $7, reaching back to the summit of the candles in late 2021. This level has also been reinforced by additional support in March and April of this year. RNDR continues to rebound from its bull market trend line, suggesting a possible price surge back towards the record high of $13.84. The weekly stochastic RSI is extremely optimistic following a double bottom reversal.

$KAS breaks out of range

The $KAS weekly chart presents an compelling bullish scenario. The price has been confined to a range between $0.10 and $0.18 for some time, with the current trend aiming to break above the upper boundary. If successful, new price levels will come into play. Additionally, the stochastic RSI is now climbing above 80, indicating significant momentum that could further fuel the price increase.

Which of these two altcoins, RNDR and KAS, do you believe will yield better returns over the next twelve months? The difference isn’t significant, but from a price standpoint, RNDR might be a slightly safer choice based on its technical indicators. Specifically, the stochastic RSI weekly momentum has only recently shifted upward on both its Bitcoin and US Dollar pairings for RNDR, while KAS’s indicators are currently at or near their peaks, suggesting potential downward price movements in the future.

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2024-07-02 14:04