Market

Here’s what’s coming for ETH, DOT, and LUNA according to top analysts

The popular analyst outlines what’s next for Ethereum (ETH) and its rivals Polkadot (DOT), Terra (LUNA).

The person, known in the industry by the nickname of altcoin Sherpa, told his 167,100 Twitter followers that while leading smart contract platform Ethereum looks bullish on shorter timeframes, it warns that a sharp drop could happen at any time could as ETH is currently trading in a key resistance area.

“In general, soils are not formed that way; I think it will bounce back to the recent lows. Against this backdrop, the price remains bullish on the 4-hour frame with higher highs and higher lows. Approaching a strong resistance around the $3,000 zone low. Be careful”.

The source: Altcoin Sherpa/Twitter

Next is the interoperable Polkadot blockchain. According to the crypto analyst, DOT seems poised to stage a 27 percent rally from the current price of $22.60 to its target of $28.

“I think a short-term bottom could be forming; to determine if this is a long-term bottom. The price needs to consolidate here for a while before I think that will happen. A lower top is possible in the mid-$20s or near the 200-day EMA and then a move lower.”

The source: Altcoin Sherpa/Twitter

Another coin on the analyst’s list is decentralized finance (DeFi) payments network Terra. Altcoin Sherpa says LUNA could bottom between $45 and $53 as it trades in the high-volume (HVN) node zone.

“I think the short-term bottom is in. The trading volume is large and a HVN in the volume profile is in this range. Hopefully things will continue to improve.”

The source: Altcoin Sherpa/Twitter

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.