Cryptographic strategists and traders who are closely followed are predicting a major fix for Ethereum’s competitor Terra (LUNA) while updating the outlook for ETH and the smart contract platform Avalanche (AVAX).
In a new strategic session, pseudonym analyst Credo said LUNA may have printed a large bulltrap after printing a record high of about $ 120.
“I don’t like this structure. I’m just drawing the highest closing price, the highest in December, and then the structure [the] Weekly [candle] Closed way on it. It hit a record high and was caught up in the bears next week …
It’s the best unsuccessful breakout in the range. The usual goal for that is range low … the bias shifts only when the range high is recovered or when the price reaches the range low. ”
According to Cred, LUNA could provide some support at around $ 60, but emphasized that the lower end of the range is close to $ 40, allowing it to fall by more than 50% from its current price of $ 80.70. Suggests sex.
Cryptographic strategists also closely monitor Ethereum. This is expected to recover in the next few days. But he warns that the rally will probably be short-lived.
“Next week we may have a situation where both BTC and ETH are gathering, but they are gathering in the resistance of the cluster … I don’t like those types of setups.”
The last coin of a trader’s radar is an avalanche. AVAX looks bearish after a failed breakout of over $ 86, Kled said, but said the market structure could be modified even if the Bulls stepped up to the plate.
“I think the same logic applies. If you get a $ 86 reclaim, you’re pretty unlikely to get another fake out and could eventually be pushed towards $ 115, or at least around $ 100. There is sex. “
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