Crypto Market Braces For Dramatic Shift: Analyst's Predictions About Solana, Chainlink, Avalanche Send Shockwaves
Portfolio Pulse from Murtuza Merchant
A cryptocurrency analyst, Altcoin Sherpa, predicts a gradual decline for Solana (SOL), Chainlink (LINK), Avalanche (AVAX), and Rune (RUNE), based on technical indicators like the .382 Fibonacci retracement levels and the 200-day EMAs. The analyst expects a 'grind down' period before a potential robust upward movement in January.
November 30, 2023 | 7:36 pm
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NEGATIVE IMPACT
Avalanche (AVAX) may undergo a gradual price decrease according to Altcoin Sherpa, with the .382 Fibonacci retracement and 200-day EMA being key levels to watch for a rebound.
The forecasted downtrend based on the mentioned technical indicators could result in a short-term negative impact on AVAX's price as investors may react to the analyst's predictions.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Chainlink (LINK) is anticipated to face a 'grind down' period as per Altcoin Sherpa's analysis, with a focus on the .382 Fibonacci level and 200-day EMA for a future upswing.
The technical analysis suggesting a decline could influence Chainlink's price negatively in the short term as traders may anticipate lower prices ahead.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Rune (RUNE) is expected to decline to its .382 Fibonacci level and 200-day EMA, which could serve as a pivotal point for the token's future price action.
The prediction of a price decline for RUNE, based on technical analysis, could lead to bearish market sentiment and a short-term drop in its price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Solana (SOL) is expected to experience a gradual decline based on the .382 Fibonacci retracement and 200-day EMA indicators, with potential stabilization and rebound in the future.
The prediction of a gradual decline by a known analyst could lead to short-term bearish sentiment among investors, potentially causing a decrease in Solana's price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 90