Render (RNDR) and Kaspa (KAS) biggest altcoin gainers, but which is the best bet?
For the period of the last 12 months, both $RNDR and $KAS have been among the biggest handful of gainers among the altcoins. Will this continue to be the case? Which of the two is the best bet for the next 12 months?
Memecoins outperform but some altcoins are coming up on the rails
Over the last year the best niche by far in the cryptocurrency sector has been the memecoins. $WIF, $BRETT, and $BONK far exceeded any of the gains of any other cryptocurrency in the top 100 ranking by market capitalization.
That said, these memecoins are purely speculative vehicles and a day of reckoning will come when they hit their respective tops, and holders of these meme tokens will all try to sell their bags at the same time.
When looking for fundamentals and utility however, there are a small handful of altcoins that are outperforming the rest. $RNDR and $KAS are among these.
$RNDR has huge support
Source: TradingView
The $RNDR weekly chart for its $USDT pairing looks very promising. There is huge support at $7, which stretches all the way back to the candle tops of the high in late 2021. Since then, there has been more support provided at this level in March and April of this year. $RNDR is still bouncing from its bull market trend line and therefore look for a potential price climb back to the $13.84 all-time high. The weekly stochastic RSI is also incredibly bullish following a double bottom dip.
$KAS breaks out of range
Source: TradingView
The $KAS weekly chart holds another very bullish story. The price has been in a range since $0.10 and is currently attempting to consolidate above the top of the range at $0.18. If the $KAS price can achieve this, price discovery awaits above. The stochastic RSI is just emerging above the 80 line, which is another very bullish sign as more momentum buoys the price higher.
So which of these two altcoins looks to be the best bet for the next 12 months? There isn’t really very much in it, but from a price perspective, perhaps $RNDR looks slightly more promising, given that the stochastic RSI weekly momentum has only just crossed up from the bottom on both its $BTC and $USDT pairings, whereas for $KAS these indicators are at or near the top, signalling downside momentum at some point.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
