Altcoin Sherpa, a well-known crypto trader, has expressed his long-term bullishness towards an altcoin related to artificial intelligence (AI), despite some potential warning signs on its chart. With a following of 215,900 on X, he has chosen Render (RNDR) as his top AI pick for this market cycle. Altcoin Sherpa plans to hold most of his investment in a cold wallet, indicating his confidence in the altcoin’s potential.

Render aims to offer near real-time rendering by utilizing its decentralized network of Graphics Processing Units (GPUs). The project’s website explains that in addition to the decentralized GPU computing network, Render provides a platform for artists and developers to build services and applications for the emerging digital economy. These services include next-generation digital rights management (DRM), AI, and non-fungible tokens (NFTs).

At the time of writing, RNDR, the native token of Render, is trading at $10.21.

Apart from Render, Altcoin Sherpa is also interested in Bittensor (TAO), a decentralized blockchain platform that focuses on machine learning and AI. However, he acknowledges that the asset’s chart currently looks “scary.” Nevertheless, he considers it a decent place to buy, particularly with the 200-day exponential moving average (EMA) plus 0.50 Fibonacci. Altcoin Sherpa plans to invest half of his desired amount at the current level and more when the .618 fib level is reached at around $300.

As of now, TAO is trading at $451.47. It is ranked 44th in terms of market capitalization and has experienced a nearly 4% decrease in the past 24 hours.

On the other hand, Altcoin Sherpa is less optimistic about Wormhole (W), a cross-chain messaging protocol. He believes that W’s recent move above its resistance at $0.72 was merely a fakeout rally, suggesting that prices could drop to $0.587. Altcoin Sherpa plans to cut his position in W and take profits, with the intention of buying back at a higher price if a true break occurs.

Currently, W is valued at $0.658.

In conclusion, Altcoin Sherpa is confident in Render’s potential as an AI-related altcoin and plans to hold most of his investment in cold storage. He is also interested in Bittensor but acknowledges the current uncertainty in its chart. Meanwhile, he is less bullish on Wormhole and plans to cut his position to take profits.