Popular crypto analyst Michael van de PoppeHe said he expects the three major altcoins by market cap to continue correcting before forming a local bottom.
Decentralized finance (DeFi) payment network terra Starting with (LUNA), Van de Poppe told his 575,800 Twitter followers that the seventh-ranked altcoin could pull back to $70 if the crypto markets continue to show signs of weakness.
“I would take it slow for LUNA this time. A nice rise, but liquidity hit an all-time high and corrected instantly. I think we’ll be looking for some more downside momentum to get the liquidity there. I would be interested in about $70.”
At the time of writing, LUNA The all-time high of $104 is down 15% to trade at $88.34.
Another cryptocurrency on Trader’s list is Ethereum scaling solution polygon (MATIC). According to Van de Poppe, the MATIC appears to be slow as it consistently creates lower highs that tend to fall.
“MATIC seems slow for some fixes I’ll be dealing with around $1 here.”
MATIC It is currently trading at $1.36.
The last crypto is its Ethereum rival, which Van de Poppe believes is ready to lose 26% of its value at its current price of $1.11 before reaching a bottom. Phantom (FTM).
“I’m looking at lower levels for FTM here because then (at the lower levels) it will also reduce all liquidity. That will be the bottom of this fix.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.