Here’s What’s Ahead for Ethereum (ETH), Polkadot (DOT) and Terra (LUNA), According to Top Crypto Strategist

A well-liked crypto strategist and dealer is outlining what’s subsequent for Ethereum (ETH) and its rivals Polkadot (DOT) and Terra (LUNA) as altcoins flash indicators of life.

Pseudonymous analyst Altcoin Sherpa tells his 167,100 Twitter followers that whereas main sensible contract platform Ethereum appears bullish on the decrease timeframes, he warns {that a} correction is in sight as ETH is now buying and selling at a key resistance space.

“This isn’t usually how bottoms are shaped; I feel a return to the lows is probably going (finally). With that mentioned, worth has nonetheless maintained a bullish market construction on the 4h with [higher highs and higher lows]. Approaching a scary space within the $3,000s. Be cautious.”

Source: Altcoin Sherpa/Twitter

Next up is interoperable blockchain Polkadot. According to the crypto analyst, DOT appears prepared to ignite a 27% rally from its present worth of $21.90 to his goal at $28.

“I feel {that a} short-term backside could also be forming; to be decided if that is the long-term backside. Price will want to consolidate right here for some time earlier than I feel that occurs. Possible decrease excessive to mid $20s close to the 200-day exponential shifting common and then decrease.”

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Source: Altcoin Sherpa/Twitter

Another coin on the dealer’s checklist is decentralized finance (DeFi) fee community Terra. Altcoin Sherpa says LUNA could also be carving a backside between $45 and $53 because it trades in a high-volume node (HVN) area.

“I nonetheless suppose the underside is in for the quick time period. Lots of quantity and a HVN on quantity profile is round this space. Expecting this to chop and then go up.”

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Source: Altcoin Sherpa/Twitter

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https://dailyhodl.com/2022/02/07/heres-whats-ahead-for-ethereum-eth-polkadot-dot-and-terra-luna-according-to-top-crypto-strategist/

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