3 Big Data Altcoins to Watch Ahead of Nvidia Q3 Earnings This Week

Artificial Intelligence and Big Data altcoins have rallied strongly ahead of the much-anticipated Nvidia third-quarter earnings results on Nov. 19.

Big Data and AI Altcoins Boom Ahead of Nvidia Q3 Earnings

The best performers include Fetch.AI (FET), Render (RNDR), and Near Protocol (NEAR), which have surged by up to 17.56%, 26.34%, and 23.40% when compared to their local lows, respectively. These rallies are similar to the ones that preceded Nvidia’s first-quarter and second-quarter earnings.

Crypto traders are betting on the world’s largest chipmaker’s strong Q3 results—a “buy the rumor” strategy typically associated with the cryptocurrency markets.

For instance, Wall Street remains highly bullish on Nvidia, with 67 out of 75 Bloomberg-tracked analysts rating it a buy. Profit forecasts for next year have risen about 10% over the past three months, tempering Nvidia’s valuation to 39 times forward earnings, down from last year’s peak of over 60 times.

But AI and Big Data altcoins tend to underperform after the Nvidia results, as seen in its shape “sell the news” declines. Tokens like Fetch.ai, Render, and Near Protocol displayed this pattern during Nvidia’s Q1 and Q2 earnings announcements — and Q3 looks no different.

Fetch.AI Price Analysis: Beware of Post Earnings Crash

Fetch.ai (FET) experienced a price jump of 80.78% ahead of the Q2 Nvidia earnings report before falling approximately 32%. It underwent a similar pump-and-dump trajectory around the Q1 earnings report.

The fractal alone suggests a FET price correction ahead. Rising open interest in the Fetch.AI Futures market, coupled with positive funding rates, further indicates “long squeeze” possibilities.

From a technical perspective, FET is consolidating between its two key exponential moving averages (EMA): the 50-3D (red) and 200-3D (blue). It eyes a correction toward the 200-3D EMA next, which aligns with $1.09, down about 15% from the current price levels.

The downside target coincides with FET’s rising trendline support, constituting a symmetrical triangle pattern.

Conversely, a clear breakout above the triangle’s upper trendline could take its price to its 0.5 Fib line of around $1.724 by December 2024, up by over 30% from the current prices.

Render Price Analysis: RNDR Upside Looks Better Than Fetch.AI

Render has undergone strong price corrections after recent Nvidia earnings, akin to Fetch.AI.

From a technical perspective, RNDR appears to be breaking out of its prevailing falling wedge pattern, which increases its potential to rally further in November.

A sell-the-news event after Nvidia earnings may prompt the AI crypto to drop toward the wedge’s upper trendline at around $5.75, which aligns with its 0.236 Fib line.

Retesting previous resistance levels as new support after a breakout is a common market behavior. This process often shakes out weaker hands, allowing stronger, long-term investors to take control and paving the way for potential gains and a more stable market foundation.

Therefore, should RNDR stay above the $5.75 support level, its probability of climbing toward the wedge’s upside target of $15 by early 2025 remains high. That amounts to a 100% price rally.

Conversely, falling below $5.75 may invalidate the entire bullish reversal scenario, setting the Render token on the road toward the wedge’s lower trendline instead—in other words, a decline toward $3.20.

Near Protocol Price Prediction: Bull Flag Breakout Suggests 115% Rally Next

Given its historical reactions to the event, NEAR will likely drop modestly after the Nvidia earnings release.

Technically, the AI token has been consolidating inside the $5.30-6.00 range for the past week and will likely retest the $5.30 support after the Nvidia results. However, looking broadly, it has also entered the breakout stage of its prevailing bull flag pattern.

Bull flags resolve when the price breaks above their upper trendlines and rises by as much as the height of the previous uptrend. Applying the same technical rule on NEAR’s ongoing price trend brings $15 as its next upside target, a level aligning with its 1.618 Fib line.

In other words, NEAR can rally 115% by early 2025.