Cryptocurrency analyst at cryptocurrency channel InvestAnswers shares an altcoin that he expects to “shoot”. The analyst also provides updates on Ethereum (ETH), Terra (LUNA), and Avalanche (AVAX). Detail Cryptokoin.com’in.
LUNA, AVAX, ETH and Cosmos predictions
The analyst says Cosmos (ATOM), a network of many independent but interconnected blockchains, is scheduled to grow by about 40% in a month or less. The analyst says:
It’s pretty clear that we’ll probably hit $45 in a month or less. [ATOM] It looks absolutely gorgeous and will skyrocket as we move forward. There isn’t much selling pressure on the horizon and we should be able to hit $45, where it has hit four or five times in the last few months.
Later, the analyst says that Ethereum (ETH) is currently at the 0.5 Fibonacci level; this is a key Fibonacci retracement level that represents the midpoint of a current trend. The crypto analyst adds that ETH could hit an all-time high if it manages to break above the 50 and 200-day moving averages. “We are currently approaching the 0.5 Fibonacci level, which is around $3,300. And break the next 200-day moving average. And then hopefully we’ll hit $3,700. Then $4,150. After that, the all-time high is $4,800.”
Next up is Terra (LUNA), a blockchain protocol made up of decentralized stablecoins. The crypto analyst says that LUNA is watching the $65 price level after bouncing off the 200-day movement era. Analyst “This [LUNA] is also making a nice recovery… we are back to the 0.386 Fibonacci level at $65. And after that, you know LUNA can move really fast whenever she wants to.”
Next up is Avalanche (AVAX), a smart contract-enabled blockchain. The crypto analyst says that AVAX is in overbought territory based on the Relative Strength Indicator (RSI). The RSI indicator ranges from 0 to 100 – where levels 70 or higher indicate overbought conditions and potentially the end of a rally, while levels 30 or lower indicate oversold conditions and potentially the end of a sell. The analyst said, “The AVAX chart may be running out a bit, we’ll see. But hitting $95 was a clear selling point,” he says.
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