Standard Crypto Strategist Points Extreme Warning on Embattled Altcoin That’s Exploded by Over 330% in a Month – Cryptospacey
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A well-respected crypto analyst is warning traders about the altcoin, which is up more than 330% since August.
A pseudonymous dealer commonly known as Crypto Capo tells his 510,000 Twitter followers believe that Terra Luna Traditional (LUNC), a rebranded model of stablecoin issuer Terra (LUNA), is unhealthy information and should be avoided by traders.
“How many people do you think will knock out a LUNC grape?
My recommendation: stay away from it.”
LUNA crashed in Might after its stablecoin decoupled from the US dollar, losing over 99.9% of its value. According to Capo’s charts, LUNC is headed for a major crash in the coming days.
The cryptocurrency is currently trading at $0.000439 at the time of writing, down 16.46% on the day, but a big 337% improvement since early August.
The analyst continues to present a bearish outlook for a handful of digital assets, along with Bitcoin (BTC).
Capo forecast That the highest crypto-asset by market capitalization will rise to $22,500-$23,000 varies after gathering help near $19,600.
“We got another bullish confirmation when we got back $19,600 on a supportive volume.
The value is now at resistance and will rise slightly, but for my part, it can rise to the principle target of $22,500-$23,000 today.
The analyst’s chart shows that he believes the king crypto will contract into the $14,000-$16,000 “buy zone” sometime in October.
Bitcoin is currently at $21,290, a 9.8% buy date.
Capo also has its eyes on the smart contract platform Cardano (ADA). His estimate shows that Cardano will rise to $0.55 earlier than $0.35 during September.
Cardano is currently valued at $0.52, up over 7% over the past 24 hours.
In addition, an analyst notes that high altcoin Ethereum (ETH) follows an identical pattern. His charts show that the main sensible contract platform is rising to $1,800 earlier than sinking to $1,350.
“[Stop/loss] was triggered at zero level. Return to this store for a larger one [risk ratio]. Same goal ($1,800).
ETH is changing hands at $1,717 at the time of writing.
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