Token

Render

Injective

Sensei

<p class="is-style-lead">Injective (<a href="https://crypto.news/price/injective/" rel="noopener noreferrer nofollow">INJ</a>) and Render Token (<a href="https://crypto.news/price/render/" rel="noopener noreferrer nofollow">RNDR</a>) prices have remained in a bear market since March and prior attempts to bounce faced strong resistance. Render was trading at $7.5605 on Monday, down by over 44% from its highest level this year, giving it a market cap of over $2.9 billion.</p><p>Injective, the venture-backed blockchain that made waves in 2023, has crashed by over 56% from the year-to-date high. This drop has brought its market cap from over $4.86 billion in March to $2.14 billion.&nbsp;</p><p>These cryptocurrencies have dropped in line with the performance of other meme coins like Cardano, Solana, and Chainlink.</p><figure class="wp-block-image size-large"><img width="1024" height="570" src="https://crypto.news/app/uploads/2024/07/Render-vs-Injective-1024x570.png" alt="Render vs Injective"></figure><p><em>Injective vs Render tokens</em></p><h2 class="wp-block-heading" id="analyst-turns-bullish-on-render-and-injective">Analyst turns bullish on Render and Injective</h2><p>A well-followed analyst has predicted that INJ and RNDR prices could be ripe for a bullish breakout in the longer term. Sensei, who has over 33k X followers, expects that INJ will jump to $100, meaning that it could soar by over 340% from the current level.</p><p>He also expects that Render token will rise to $150, implying a 2,000% surge from the current price. The analyst is also bullish on other tokens like Oasis Network (ROSE) and Bittensor (TAO), which he expects will rise to $2 and $1,000, respectively.&nbsp;</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p><a href="https://twitter.com/search?q=%24ROSE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ROSE</a> is going to $2-3<a href="https://twitter.com/search?q=%24TAO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TAO</a> is going to $1,000<a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$RNDR</a> is going to $150<a href="https://twitter.com/search?q=%24INJ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$INJ</a> is going to $100</p>— Sensei (@SenseiBR_btc) <a href="https://twitter.com/SenseiBR_btc/status/1807746236788686949?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a></blockquote></div></figure><p>Sensei bases his analysis on fundamentals and technicals. Writing on the Render Token, he noted that it had formed a cup and handle chart pattern on the monthly chart. It had also found a strong support at the upper side of this pattern, raising the possibility of a rebound.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p><a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$RNDR</a> Monthly<br><br>Hold this support to stay Bullish ! <a href="https://t.co/fLs1cF7YWL" rel="noopener noreferrer nofollow">pic.twitter.com/fLs1cF7YWL</a></p>— Sensei (@SenseiBR_btc) <a href="https://twitter.com/SenseiBR_btc/status/1807700236543963433?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a></blockquote></div></figure><h2 class="wp-block-heading" id="inj-and-rndr-have-headwinds">INJ and RNDR have headwinds</h2><p>Fundamentally, Injective and Render are facing numerous headwinds. Injective, which is a blockchain network for the finance industry, has seen the volume of its assets retreat in the past few months. After peaking at $204 million in March, it has dropped to $114 million, its lowest point since February 17th.</p><p>Most big names in the ecosystem like Hydro Protocol, DojoSwap, and Mito Finance have seen their assets drop by over 10% in the past 30 days.&nbsp;</p><p>Still, Helix, its biggest DEX, which handled over $59 million in <a href="https://coinmarketcap.com/rankings/exchanges/dex/?type=spot" rel="noopener noreferrer nofollow">transactions</a> in the past 24 hours. Also, according to the <a href="https://x.com/injective/status/1807250238366773302" rel="noopener noreferrer nofollow">developers</a>, over $1 billion worth of INJ tokens has been staked on chain.&nbsp;</p><p>On the other hand, Render Network is seeing strong competition from the likes of Akash Network, a platform that offers decentralized GPUs.&nbsp;</p><p>Further, most altcoins are contending with the lack of major market-moving news in the crypto industry. There are also concerns that a new crypto winter like the one that happened from November 2021 to November 2022 could be about to happen.</p>

Injective price to reach $100 and Render to hit $150: analyst

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