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