DePin Space Expected to Trigger a Fine Rally in the Coming Days After Being Overshadowed by Memecoins and AI Tokens

Some of the DePin tokens have begun to exhibit their strength, while others are close to beginning a strong rally, which could offer strong competition to memecoins or AI-tokens

Several narratives have been doing the rounds within the market, with the DePin space expected to gain attention. Some DePin tokens have started showing strength, while others are on the verge of a strong rally, which could offer competition to memecoins or AI-tokens.

The DePin space has been trading under the shadows of memecoins and AI tokens after the market participants shifted their focus onto the other tokens. However, the space is swelling slowly and steadily and is expected to trigger a fine rally in the coming days.

The rise of Solana and Solana-based tokens has substantiated the claim. But there are a few more projects apart from Solana, which have started their journey to a new ATH and hence are required to be closely monitored.

Bittensor (TAO)

The Bittensor price was trading within a rising parallel channel and heading to form new highs above $700. But the bearish interference escalated, causing the price to drop by over 35% during the second half of the month. However, the technicals suggest the bearish influence over the token could end, attracting fresh bullish liquidity onto the platform.

The latest pullback has compelled the price to remain stuck within a falling wedge while the price is about to reach the edge of the consolidation. The RSI is on the verge of a strong rebound from the lows and the MACD shows a drop in the selling pressure. Meanwhile, the buying volume has also started accumulating, suggesting a rebound could be fast approaching. Hence, the Bittensor price is expected to rebound from lows and breach above the resistance to reach $600 in a short while.

Render (RNDR)

The markets faced a huge backlash at the beginning of October but they managed to overcome the losses. Meanwhile, Render failed to revamp a strong ascending trend, which eventually kept the trend consolidated within a bearish trend. However, the bulls are utilizing all their resources in pushing the price above the resistance, which may validate a 5% very soon.

As mentioned earlier, the price is stuck within a falling wedge while the bulls are trying for a breakout. The short-term MACD shows the buying volume is slowly accumulating and the rise from the bearish influence could be validated after surpassing a crucial resistance zone between $4.48 and $4.52. Moreover, a jump above $4.62 may push the prices close to the next resistance zone between $4.85 and $4.89. To begin a fresh upswing, a rise above $5 appears to be imminent; otherwise, the RNDR price may remain stuck within a continued bearish trend.

Filecoin (FIL)

The Filecoin price is trying hard to rise above the bearish influence after being stuck within a bearish trend for over 6 months. The volatility has compressed to a large extent, which suggests a major move could be fast approaching as the Bollinger bands also display the possibility of a pullback.

The price is trying to validate a rebound from the average bands of the descending parallel channel. The RSI had dropped below the lower support but the immediate intervention of bulls has elevated the levels within. Hence, the FIL price may rebound and maintain a strong ascending trend to reach the upper resistance, which is also a pivotal one at around $3.8 and a rise above $4. If the price manages to rise above the pivotal range between $4.16 and $4.24, the beginning of a fresh bullish trend may be expected.

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