Popular cryptocurrency strategist issues dire warning about embattled Altcoin, which has exploded more than 330% in a month

Popular cryptocurrency strategist issues dire warning about embattled Altcoin, which has exploded more than 330% in a month

A widely followed crypto analyst is warning investors about an altcoin that has surged more than 330% since August.

Trader known as Crypto Capo Tells Of his 510,000 Twitter followers, he believes Terra Luna Classic (LUNC), the rebranded version of the Terra (LUNA) stablecoin issuer, is bad news and investors should stay away from it.

“How many people think they have fallen for the LUNC scam again?

My advice: stay away from her.”

LUNA collapsed in May after its stablecoin depegged from the US dollar, causing its price to lose more than 99.9% of its value. According to Capo charts, LUNC is set to suffer a massive crash in the coming days.

source: Capo / Twitter

The crypto asset is currently moving at $0.000439 at the time of writing, down 16.46% on the day but a massive 337% increase since early August.

The analyst goes on to provide bearish forecasts for a few digital assets, including Bitcoin (BTC).

capo Expect That the highest crypto asset by market capitalization will rise to the $22,500 to $23,000 range after regaining support near $19,600.

“We got confirmation of the second rally with a recovery of $19,600 with strong volume.

The price is at resistance now and could pull back a bit, but in my opinion it will rise during these days, to the main target of $22,500-$23000.”

Source: CryptoCapo / Twitter

Analyst’s chart indicates that he believes Crypto King will fall into the “buy zone” from $14,000 to $16,000 sometime in October.

Bitcoin is currently moving at $21,290, up 9.8% from today.

Capo also has its sights set on Cardano (ADA) smart contract platform. His analysis shows that Cardano will rise to around $0.55 before declining to the $0.35 region in mid-September.

source: Capo / Twitter

Cardano is currently valued at $0.52, an increase of more than 7% in the past 24 hours.

Analyst too Notes That top Ethereum (ETH) coin will follow a similar pattern. His charts indicate that the leading smart contract platform will rise to $1,800 before dropping to the $1,350 range.

“[Stop/loss] It was run at the break-even point. Re-enter this trade with the best [risk ratio]. Same goal ($1,800).”

Source: CryptoCapo / Twitter

ETH is trading at $1,717 at the time of writing.

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Featured Image: Shutterstock/Leszek Glasner/Sensvector

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