The crypto market, as well as investors, were shattered and disappointed after the May 19 crash down. This worst dip in the second month of the second quarter will be recalled after promising results in the first quarter. While bitcoin continues to rise, several altcoins are recovering as well.
After the crash, one cryptocurrency, Terra (LUNA), in particular, showed encouraging results. In this article, We’ll look at this altcoin as a famous crypto analyst who has high hopes for this small-cap cryptocurrency.
Following an 82% drop from an all-time high of $22 to a low of $4.00, Trader and crypto expert Kaleo paints a hopeful vision for Terra’s (LUNA) rebound for his 313,800 Twitter followers, despite the crypto market’s dramatic dip. He anticipates a relief move back into the double digits, a 2.5x increase from the trough.
In 2021, Terra (LUNA) Is One of the Most Popular Cryptocurrencies, With a Growth Rate of Around 2000%.
According to him the LUNA BTC chart is rough right now, but the USD chart looks a lot better. So far, the bounce has been clean thanks to robust HTF backing. If this doesn’t have a relief bounce back to double digits, I’ll be shocked, he said.
After the market began its advent towards the recovery mode, the analyst notes that LUNA has been one of the best performers recovering around 50% while other actions still seem to be struggling in the aftermath.
“LUNA still the best performing alt of the day up more than 50% from the lows after the bounce from HTF support.” Kaleo also sees promise in the LUNA/BTC pairing. “LUNA / BTC looks ready for continuation higher”
Terra price today at the time of writing is $6.18.