Popular crypto analyst InvestAnswers assured that Bitcoin and Terra cryptocurrencies will grow significantly in value in the near future. He focused on the altcoin rate, saying that LUNA has great potential.
According to the expert, one of Ethereum’s competitors is on its way to reaching a new historical price high. According to the analyst, the strongest support level on the chart seems to be $76, below which the value of the virtual coin should not fall.
Read also: Leading Analyst Gives Bullish Forecast for Altcoins
Since 2009, digital currencies have gone from an incomprehensible tool to a promising investment….
He noted excellent entry points just above this price. According to the specialist, the growing popularity of using the stablecoin TerraUST (UST) should play a positive role for the cryptocurrency exchange rate and the market capitalization of the project. It is very important that UST has become the third largest stablecoin in the market by the size of the total supply.
InvestAnswers assured that LUNA is right on the 50-day moving average around $93-$95. From this it follows that soon there will be an increase in value in the range of $110 – $120.
Regarding Bitcoin, the specialist said that the price of the leading cryptocurrency asset could rise based on the correlation between BTC and the US dollar index (DXY). He is sure that the American currency will stabilize a little soon, therefore, the flagship digital asset will also rise in price. This trend has been observed over the past two years. This relationship can be considered an important bullish factor.
Earlier edition informed that expert Mikael van de Poppe shared his trading ideas for several popular altcoins. The expert assured that he is very optimistic about the growth in the value of Ripple and Litecoin. In his opinion, these assets are in the oversold stage and in the near future the bulls will begin to dominate the market.