This summary text is fully AI-generated and may therefore contain errors or be incomplete.
A well-known crypto strategist has made predictions about the performance of several altcoins in December. Altcoin Sherpa, a pseudonymous analyst, believes that Solana (SOL), Chainlink (LINK), Avalanche (AVAX), and THORChain (RUNE) will experience a bearish month. According to Altcoin Sherpa, these coins are likely to retrace to their respective 0.382 Fibonacci levels before potentially rallying in early 2024. The analyst specifically mentions the 0.382 Fibonacci level and the 200 exponential moving average on the four-hour chart as key areas to watch. Altcoin Sherpa expects a downward grind and consolidation before a strong move in January. In terms of price targets, SOL is predicted to drop to $48.72, AVAX to $18.54, LINK to $12.44, and RUNE to $4.48. It is important to note that these predictions are based on the analyst’s technical analysis and should not be considered as investment advice.