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Altcoin

Analyst Says One Ethereum Rival May Soon Witness Meteoric Rally, Far Outperforming Bitcoin and Crypto Markets

A extensively adopted crypto strategist says that Ethereum (ETH) competitor Terra (LUNA) is poised to hit new all-time highs regardless of common sideways motion throughout the crypto markets.

Pseudonymous dealer Kaleo tells his 473,900 Twitter followers that decentralized finance (DeFi) cost community Terra (LUNA) may soar by no less than 70% if it manages to surpass its earlier report excessive of $104.

“LUNA is an outlier in an in any other case uninteresting crypto market.

If LUNA can reclaim the highs from right here, I anticipate price discovery to increase to excessive timeframe resistance within the $150 – $170 vary.”

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Source: Kaleo/Twitter

At time of writing, Terra is exchanging fingers for $87.48, down over 7% within the final 24 hours.

Looking at LUNA in opposition to Bitcoin (LUNA/BTC), Kaleo says he sees the pair rallying to his short-term goal at 0.0038 BTC ($149) earlier than making a corrective transfer.

“LUNA / BTC pair is already in price discovery. After 2+ months of accumulation to get there, I’d be shocked if a 25% pump is all we see.”

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Source: Kaleo/Twitter

Kaleo shouldn’t be the one crypto strategist who has expressed a bullish outlook on the Ethereum-rival just lately. Fellow dealer Altcoin Sherpa believes the seventh-largest crypto asset by market cap is in an uptrend because it repeatedly establishes larger highs and larger lows.

“Lots of crazy bets/etc. going on for this one on its fundamentals. [LUNA is] still one of the most bullish coins out there and still in a high timeframe bullish market structure, in my opinion. I’d rather short other stuff than this one personally.”

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Source: Altcoin Sherpa/Twitter

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Featured Image: Shutterstock/DM7/WindAwake

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