Amidst the global crypto market correction, a popular crypto analyst has revealed his bullish stance toward one of the most controversial altcoins.
The analyst, anonymously known as Altcoin Sherpa, informs his 182,700 followers over Twitter that while the first two cryptocurrencies, Bitcoin and Ethereum, hold on to their current levels, Luna Classic (LUNC) will continue its bullish momentum.
The analyst makes such a prediction based on the Fibonacci indicator.
At the time of reporting, Terra Classic (LUNC) is selling at $0.0005311 after a nearly 50% surge in the last 24hrs. LUNC was introduced after Terra’s LUNA collapsed in May 2022.
The initial LUNA airdrop was announced in May when the Terra (LUNA) collapsed after its stablecoin TerraClassicUSD (USTC) failed to maintain its peg against US Dollar.
Now, the Terra network has disclosed that users who didn’t receive the airdrop will be rewarded. The current LUNC price rally is due to this announcement.
Next, the analyst talks about Fantom (FTM), a smart contract-enabled blockchain. Altcoin Sherpa claims that Fantom’s short-term support lies near $0.2396. However, he also claims that the currency might plunge by almost 20% from its present trading levels.
At the time of writing, Fantom is selling at $0.252 with an upward swing of 2.38% over the last 24hrs
After yesterday’s massive crash, the crypto market seems to be recovering, as the global crypto market cap is also up by 4.24% from the previous day.