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Crypto analyst says Ethereum rival Terra (LUNA) is bottoming, forecasting rallies for NEAR and two other altcoins

A closely followed crypto strategist is plotting the bottom for Ethereum (ETH) Challenger Terra (LUNA) and expects rallies for Near Protocol (NEAR) and two other altcoins.
Pseudonymous crypto analyst altcoin Sherpa tells his 174,500 Twitter followers that payments network Terra for decentralized finance (DeFi) is probably just one step away from hitting a local bottom.

“LUNA: Close enough to the 200-day exponential moving average that this still counts as support, but this area has been tested several times. I wouldn’t mind seeing a run up to the high $60s for maybe this bottom.”
Crypto analyst says Ethereum rival Terra (LUNA) is bottoming, forecasting rallies for NEAR and two other altcoins, Crypto Trading NewsSource: Altcoin Sherpa/Twitter
At the time of writing, Terra is valued at $82.60.

Next is another Ethereum competitor NEAR, which altcoin Sherpa believes is after a correction of almost 40% of his all-time high from $20.44 will trigger a recovery rally.

“I still think this area is going up given the 200-day exponential moving average +786 Fibonaccilevel is at least good for a short term bounce. However, I personally don’t expect this to break all-time highs from this area.”
Crypto analyst says Ethereum rival Terra (LUNA) is bottoming, forecasting rallies for NEAR and two other altcoins, Crypto Trading NewsSource: Altcoin Sherpa/Twitter
NEAR is currently changing hands at $12.33, up over 5% in the last 24 hours.

Another altcoin on the list of traders is DAO Maker (DAO), the governance token of the DAO Maker platform, a decentralized finance and venture capital fund for tokenized startups based on the Ethereum Blockchain.

According to altcoin Sherpa, it sees DAO up over 20% from its current price of $3.28.

“I think this is one of the better looking altcoin charts right now. [The] The 200-day exponential moving average could be considered as Resistance function, but this one has held up pretty well in recent weeks despite the market dumping. I think $4 is coming soon.”
Crypto analyst says Ethereum rival Terra (LUNA) is bottoming, forecasting rallies for NEAR and two other altcoins, Crypto Trading NewsSource: Altcoin Sherpa/Twitter
The last coin on the analyst’s radar is the non-fungible token marketplace (NFT) LooksRare (LOOKS). According to altcoin Sherpa, LOOKS needs to shed its immediate resistance to maintain its bullish momentum.

“LOOKS is still on the move. I added at $1.40 but wish I had added more. I liked the confluence of 786 [Fibonacci level] + POC [point of contro] the overall price development. Must break $2.20 though.”
Crypto analyst says Ethereum rival Terra (LUNA) is bottoming, forecasting rallies for NEAR and two other altcoins, Crypto Trading NewsSource: Altcoin Sherpa/Twitter
At the time of writing, LOOKS is trading at $1.58, down over 11% over the past day.
Check the price action

Source: Crypto News Deutsch

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