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The NVIDIA GPU Technology Conference (GTC) 2024, set to take place from March 18 to March 21, 2024, at the San Jose McEnery Convention Center, is shaping up to be a pivotal event for the AI and accelerated computing community.
This highly anticipated conference is already positively impacting the prices of some AI-focused cryptocurrencies, such as Render (RNDR) and Fetch.ai (FET), which have seen price pumps today. The GTC 2024 promises to be a hub for showcasing the latest advancements in AI and accelerated computing, attracting industry leaders, developers, and enthusiasts alike.
InQubeta prepares to smash through another presale stage and let investors gain more exposure to AI.
Render (RNDR) price analysis
When we examine the RNDR/USDT chart, we can observe that the price has been trending within an ascending channel, dating back to September of the previous year.
The 200-day moving average for RNDR stands at $3.9, indicating a significant upward trajectory and strong bullish sentiment. Additionally, the Relative Strength Index (RSI) is hovering around 70, suggesting that the asset is currently in overbought territory, which could signal a potential price correction or consolidation in the near future.
The Moving Average Convergence Divergence (MACD) line is above the MACD signal line, indicating a strong upward momentum and a potential continuation of the bullish trend.
Moving forward, RNDR's bullish momentum appears strong, and a continuation of the uptrend cannot be ruled out, especially with the ongoing buzz surrounding AI and accelerated computing technologies.
Fetch.ai (FET) price analysis
After hitting its bull run peak in 2021, the FET/USDT price traded within a long-term descending triangle pattern. However, last year, FET broke out of this channel and has been in an uptrend since then, breaking through multiple all-time highs, similar to RNDR's performance.
FET reached a new ATH of around $3.08 earlier this month and is currently trading at approximately $2.7, up 15% in the last 24 hours.
The 200-day moving average for FET stands at $0.67, indicating a strong bullish trend and substantial upward price momentum. However, the MACD line is currently below the MACD signal line, suggesting a potential bearish divergence or a temporary slowdown in the upward momentum.
The Relative Strength Index (RSI) is around 65, indicating that FET is approaching overbought territory, but still has room for further upside potential before entering the overbought zone.
Looking ahead, the $3 area presents a logical next price target for FET, as this is where the price faced resistance earlier this month. Beyond that, the $3.5 level could be the subsequent target for FET's ascent.
InQubeta (QUBE) project
InQubeta (QUBE) is a new AI crypto project which is currently ongoing presale. The presale is currently in stage 9, offering exposure for investors who haven't yet grabbed QUBE tokens in previous stages. Over 900 million QUBE tokens have been redistributed.
InQubeta is a crypto crowdfunding NFT platform that focuses on empowering investors to participate in AI innovation by offering fractional investments in AI startups through NFTs. The project is centered around the QUBE token, which is designed to offer a myriad of advantages to investors, including access to groundbreaking advancements and disruptive technologies in the AI industry.
Central to InQubeta's vision is its NFT marketplace, which redefines the traditional paradigm of startup funding by enabling startups to showcase NFTs as a means of attracting investment. This fosters a symbiotic relationship between entrepreneurs and investors, propelling mutual growth and prosperity.
Conclusion
As industry leaders gather to showcase the latest advancements, the ripple effects are already being felt in the market, with coins like Render (RNDR) and Fetch.ai (FET) experiencing decent price pumps.
While the future is inherently uncertain, the bullish momentum surrounding AI-focused projects suggests that the intersection of AI and cryptocurrency will continue to captivate investors and innovators alike. As these technologies expand and mature, we can expect to witness further disruptions and paradigm shifts, potentially unlocking new realms of opportunities in this hot narrative in crypto.
Denys Serhiichuk
Tomiwabold Olajide
