- The crypto analyst, who is heavily followed by the crypto community, has fiercely warned investors about an altcoin that has risen over 330 percent since August.
The crypto trader using the nickname Crypto Capo has 510,000 Twitter followers, a rebranded version of stablecoin issuer Terra (LUNA). Terra Luna Classic (LUNC) He said he believes it is a big problem and that investors should stay away from it.
“How many people do you think are falling for the LUNC scam again?
My advice: stay away from it.
LUNA collapsed in May after its stablecoin split from its stablecoin against the US dollar, causing it to lose more than 99.9 percent of its price. According to Capo’s charts, LUNC expects a major crash in the coming days.
The crypto asset, which has fallen 16.46 percent on the day, is currently moving at $ 0.000439. Despite this notable drop, LUNC is still trading up 337 percent since the beginning of August.
Bitcoin (BTC)
The analyst continues by making bearish predictions for a handful of digital assets, including Bitcoin (BTC).
Capo predicts that the largest crypto asset by market cap will climb into the $22,500 to $23,000 range after regaining support around $19,600.
“We got second bullish confirmation with retracement of $19,600 with strong volume. The price is currently at resistance and it could pull back a bit, but I think it will continue higher these days to its main target of $22,500-23,000.
The analyst’s chart shows that Capo believes the king cryptocurrency will plunge into the $14,000 to $16,000 “buy zone” in October.
Bitcoin is currently trading at $21,302, up about 2% in the last 24 hours.
Cardano (ADA)
Capo is also a smart contract platform. Cardano (ADA) also examines it closely. His analysis shows that Cardano will rally as high as $0.55 before falling to the $0.35 area in mid-September.
Cardano is currently worth $0.51, up over 7 percent in the last 24 hours.
Ethereum (ETH)
The analyst also states that the largest altcoin Ethereum (ETH) will follow a similar pattern. Its charts show that the leading smart contract platform will rally to $1,800 before falling into the $1,350 range.
“[Stop/loss] triggered at the breakeven point. This is a better trade [risk oranı] I will re-enter. Same target ($1,800).”
ETH is changing hands at $1,717 at the time of writing.
You can follow the current price action here.
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.