Why INJ, RNDR, FET can see crucial growth this November

Title: AI Tokens Display Bullish Trends as Attention Shifts to AI Conferences

Subtitle 1: Tokens INJ, FET, and RNDR Outperform bitcoin in the AI Economy
Subtitle 2: The Impact of AI Conferences on Token Prices
Subtitle 3: Analyzing the Potential of INJ, FET, and RNDR in the Market

The market for AI tokens, such as Injective (INJ), Fetch.ai (FET), and Render (RNDR), has seen impressive growth over the past month, outperforming the rise of bitcoin. This surge in AI token prices can be attributed to the increased attention given to these cryptocurrencies, as well as the upcoming AI conferences scheduled for November.

Building on the previous success of AI tokens during the height of ChatGPT’s popularity, investors and traders are employing a “buy the rumor, sell the news” strategy in anticipation of the upcoming conferences. Numerous AI events are planned for November, including the Data+AI World Tour in Munich, a world tour in Paris, and a Machine Learning (ML) week in Berlin.

Open Interest, a key indicator of market trends, suggests promising possibilities for INJ. As INJ’s Open Interest continues to rise, the price could gain more strength, making the current price range a good entry point. FET and RNDR also show potential for growth, with rising volume acting as an indicator of their upward trends.

Analyzing the Weighted Sentiment, it is evident that INJ, FET, and RNDR have all received positive sentiment in the last 30 days. While the sentiment has decreased slightly, it remains in the positive zone, indicating that traders have positive views about these projects while exercising caution due to their recent strong performances.

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Examining the price action, FET’s bullish structure remains intact despite attempts by sellers to interrupt its trajectory. If the support level at $0.36 holds, a move towards $0.40-$0.45 is likely. INJ shows a similar pattern, with a rally connected to strong support at $7.28 and the potential for another short-term rally. RNDR displays the most promise, with indicators such as the Money Flow Index (MFI) and Awesome Oscillator (AO) signaling strong buying momentum.

While a pullback is expected for RNDR, it may be short-lived, and traders should not overlook the possibility of a price increase in the $3.00 to $3.50 range.

In conclusion, AI tokens have demonstrated bullish tendencies, driven by the anticipation of AI conferences and the increasing attention given to AI-related projects. With positive sentiment, rising volume, and promising price action, tokens INJ, FET, and RNDR have the potential for further growth in the AI economy.

### News source: ambcrypto.com

By Team