Closely followed crypto analyst Jason Pizzino shared his views on three altcoins that he expects to perform relatively well in March.
Ethereum rival to opinions Terra (Luna) Pizzino stated that LUNA, the native token of the smart contract-enabled blockchain that creates stablecoins, continues to gain strength.
Pizzino noted that LUNA is currently above the 50% Fibonacci retracement level used to identify support or resistance after rebounding from a recent higher low.
“I really like LUNA. It shows over 50% power. It also showed higher low. It also managed to cross the next 50% range. It looks like it is trying to consolidate above the previous lower swing top…
Therefore, LUNA is an altcoin that definitely fits on my March list, the token has managed to break out of most of these patterns and support levels and now continues to consolidate at higher levels. You see, LUNA is in pretty good shape and is at the top of my list.”
LUNA is trading at $92.93 at the time of writing.
Second on the list is a blockchain ecosystem designed for scalability and interoperability. Cosmos (ATOM) is located.
According to the crypto analyst, ATOM may consolidate before making a big move.
“ATOM fell from a double top but has now managed to find support at the previous lows of around $20-$21 and has managed to climb above the highs of $32. So I’d say it’s pretty strong.
I hope it consolidates before another big move comes…”
ATOM is trading at $32.42 at the time of writing.
Last on the list, a layer designed to be scalable and user-friendly is an Ethereum competitor. Near (NEAR) is located. Pizzino noted that NEAR broke above the 50% Fibonacci retracement level from the recent low.
“NEAR has climbed over 50% again. So far that all seems pretty strong.”
According to the cryptocurrency analyst, the best entry point for NEAR is above $14.
“Low risk trading for me would be to go above $14… Obviously, since you will be buying at a higher price, the rewards will be lower but at least in a stronger position.”
NEAR is trading at $11.30, at the time of writing.
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.