A closely followed crypto analyst, Ethereum (ETH) competitor Terra (Luna) He shared his opinions about it. The analyst thinks LUNA is ready to hit all-time highs despite the sideways activity in the crypto market.
The analyst, known by the alias Kaleo, in his analysis shared on Twitter, stated that the decentralized finance (DeFi) payment network Terra (LUNA) could rise by at least 70% if it manages to exceed its previous record of $ 104.
“LUNA is an outlier altcoin going the opposite direction in a boring crypto market. LUNA price If he can retrace higher from here, I expect price exploration to extend to higher timeframe resistance in the $150-170 range.”
Terra price was trading at $89.51, down 2.32% in the last 24 hours at the time of writing.
Analyst Kaleo, who also examines Bitcoin (LUNA/BTC) against LUNA, also stated that the pair will rise to its short-term target of 0.0038 BTC ($149) before making a corrective move.
“The LUNA/BTC pair is already in price discovery. After more than 2 months of saving to get there, I’d be shocked if all we see is a 25% pump.”
Kaleo isn’t the only crypto strategist to have expressed a bullish view on Ethereum rival LUNA recently. famous trader Altcoin Sherpabelieves Terra, the seventh-largest crypto asset by market cap, is in an uptrend as it has repeatedly formed higher and higher lows.
“A lot of crazy bets and stuff going on on the foundations of this. LUNA remains one of the most bullish coins in the market and I think it is still in a bullish market structure in a high timeframe. Personally, I would prefer to go short on a different altcoin than this one.”
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.