Crypto Markets Flash Signs Of Health – ETH and LUNA Price Predictions | CryptoGazette
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The crypto market has been seeing a massive correction lately, and now, things start to look good again. The prices are struggling to recover as you will see below.
A popular crypto strategist and trader says the crypto markets are showing early signs of recovery. He also made sure to predict new surges for Ethereum (ETH) its rival Terra (LUNA).
ETH and LUNA predictions
Crypto analyst Pentoshi said that the ongoing bounce in the Bitcoin (BTC) dominance chart is a positive development for the crypto market.
“First sign of health in the market because it helps eliminate the weak projects. I seriously can’t believe people can look at these tweets and not believe in it, which you look at dates, time, interactions and what happened.”
The Bitcoin dominance index measures the total market cap of BTC to the rest of the crypto markets. A surging one is suggesting that BTC is either growing faster than altcoins or other cryptos are losing value faster than BTC.
Pentoshi said that altcoins will likely lose value faster than BTC in the coming months indicating a flight from excess speculation toward value investing.
“I know many people don’t believe in BTC dom. And those who don’t have lost a lot. Every single time it hits the ‘sell and walk away line’ alts have nuked 100% of the time. See notes on the chart. The market sheds the worst projects like a snake shedding its skin for new growth.”
Regarding ETH, Pentoshi predicted a rally.
“ETH. This is also developing positively for the first time in two months. I’d say $2,700 and potentially $2,900 on the table for some relief.”
Here’s what he said about Terra:
“LUNA. Bidding lower green to sell red. Have no problem buying some fear… In my opinion, risk/reward more favorable for a short-term bounce then more doom.”
Stay tuned for more news.
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