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A popular crypto trader believes altcoins are on the verge of big rallies after a pullback in the digital assets market. The pseudonymous analyst known as Altcoin Sherpa tells his 212,400 followers on the social media platform X that Render (RNDR), a project related to Graphics Processing Units (GPUs), seems to be consolidating in preparation for a breakout. He says many altcoins are forming similar bullish price patterns with consolidation in a broader uptrend as shown in Render’s chart. “RNDR: you know, a lot of good charts have this same type of price action. I think now is a great time to scale into many altcoins that you like and just sit on them. The next leg seems like it’s going to come in the next few weeks.” Source: Altcoin Sherpa/X Render is trading for $11.18 at time of writing, up nearly 2% in the last 24 hours. Next up, the trader predicts that Ethereum (ETH) competitor Solana (SOL) could dip to the 0.382 Fibonacci retracement level be...

A closely followed crypto strategist believes that four altcoins including Solana (SOL), Chainlink (LINK) and Avalanche (AVAX) will witness a bearish December. Pseudonymous analyst Altcoin Sherpa tells his 198,900 followers on the social media platform X that he thinks SOL, LINK and AVAX will likely give up some of their gains before the next leg up. According to the trader, he expects the three coins to drop to their respective 0.382 Fibonacci levels where they could potentially form a strong base to set the stage for rallies at the start of 2024. “Many 0.382 Fibonacci levels + 200 exponential moving average (four-hour chart) are coming up on some of the best coins: LINK, SOL, AVAX. These areas + the 0.50 Fibonacci level are the regions I’m eyeing. Expecting more of a grind down before any strong continuation. Would like to see grind down + consolidation to form a base + strong move in January for many of these.” Starting with the smart cont...

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