Amidst the global crypto market correction, a popular crypto analyst has revealed his bullish stance towards one of the most controversial altcoins.
The analyst, known anonymously as Altcoin Sherpa, informed his 182,700 followers on Twitter that while the first two cryptocurrencies, Bitcoin and Ethereum, remain at their current levels, Luna Classic (LUNC) is showing its bullish momentum. Will continue
The analyst makes such predictions based on the Fibonacci indicator.
At the time of reporting, Terra Classic (LUNC) is selling at $0.0005311 after a rise of almost 50% over the past 24 hours. LUNC was introduced after Terra’s LUNA collapsed in May 2022.
The initial LUNA airdrop was announced in May after Terra (LUNA) collapsed after its stablecoin TerraClassicUSD (USTC) failed to maintain its peg against the US dollar.
Now, the Terra Network has revealed that users who didn’t receive the airdrop will be rewarded. The current LUNC price rally is due to this announcement.
Phantom (FTM)
Next, the analyst talks about Phantom (FTM), a smart contract-enabled blockchain. Altcoin Sherpa claims that the short-term support for Fantom is near $0.2396. However, he also claims that the currency could fall by about 20% from its current trading levels.
At the time of writing, Phantom is selling at $0.252 with a gain of 2.38% over the past 24 hours
After yesterday’s massive crash, the crypto market seems to be improving, as the global crypto market cap is also up by 4.24% from the previous day.