The widely followed cryptocurrency trader is expressing a bullish trend for a single coin that has risen by three figures in two weeks.
Crypto Analyst pseudonym Altcoin Sherpa Tells 182,700 followers on Twitter who based on the Fibonacci indicator, Luna Classic (LUNC) will continue to rise provided Bitcoin (BTC) and Ethereum (ETH) hold.
LUNC is the predecessor of the Terra (LUNA) blockchain, also known as Terra 2.0.
“LUNC: Use Fibonacci Extensions for Stops in my opinion. Parabolic run, I think this lasts a bit as long as BTC and ETH hold.”
Luna Classic opened at $0.000106 on August 24 and closed at $0.000379 on September 6, up 257%. The Luna Classic is trading at $0.000345 at the time of writing, while its successor Terra (LUNA) is trading at $1.83.
The Luna Classic Rally follows a proposal to reward LUNC holders who fail to obtain the correct LUNA airdrop assignment with a new airdrop. Passed successfully. The idea of an initial airdrop was floated after the collapse of the original Terra ecosystem in May. The collapse of the original Terra ecosystem was triggered by the failure of its leading stablecoin TerraClassicUSD (USTC), which decoupled from the US dollar.
Altcoin Sherpa is also looking into a Fantom (FTM) blockchain that supports smart contracts. according to For the cryptocurrency trader, Fantom found short-term support at around $0.2396 but it could drop more than 20% from the current levels later.
“FTM: Haven’t looked at this shitcoin in a while, you won’t be surprised to see below $0.20 at the end. If BTC and ETH are stuck/high, this is a short term bottom.”
Fantom is trading at $0.246 at the time of writing.
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