Ethereum Challenger Terra (LUNA) Is About To Explode, Analyst Says | CryptoGazette
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The crypto market seems to be suffering a slight correction, but this is not stopping all kinds of optimistic predictions from popping up in the crypto space. Check out the latest prediciton about an Ethereum challenger below.
LUNA price is about to explode
A top-rated crypto analyst says one of Ethereum’s top rivals seems to be unstoppable.
In a new strategy session, the host of financial education YouTube channel InvestAnswers addresses the decentralized stablecoin issuer Terra (LUNA). He said that it has been booming over the past two months, and highlighted the project’s structural links to Bitcoin (BTC).
“There’s no signs up stopping LUNA. It’s up 166% in 60 days. Again, the master stroke of [Terra co-founder] Do Kwon making a Bitcoin-backed algorithmic stablecoin. I believe it will be a game changer, I’m very bullish.”
He continued and explained:
“I’m not sure why he stopped [buying Bitcoin]. I think he’s waiting for a dip. But just look at that chart, it is a beast and I don’t see it stopping.”
The trader analyzes the price of SOL
The trader is also looking at another top Ethereum challenger, Solana (SOL), and its recent moves in its BTC trading pair.
“It was rejected exactly off the 200-day moving average. This SOL-to-Bitcoin ratio is pretty crucial to follow. I did think the bottom was at 0.0022 [$94.26], but it did fall down to 0.002 [$85.69].”
He also said the following:
“Then it just skyrocketed [from late March into early April] because of a huge amount of money flow, and now we are getting rejected off, but I do think we’re going to bounce up from there.”
Ethereum is seeing optimistic predictions
There are all kinds of predicitons about Ethereum these days, and most of them are bullish despite the massive market volatility. Check out the latest price forecast below.
At the moment of writing this article, ETH is trading in the red, and the coin is priced at $3,209.
It’s been revealed that the commodity analysts from Bloomberg say that Ethereum (ETH) is significantly undervalued and that three of its biggest competitors are all showing solid potential.
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