A Twitter analyst with a reputation for predictions is trying to predict lows for Terra (LUNA), which stands out for its resilience in the declines, and MATIC and FTM, where bears are in control.
Get ready for these bottoms for LUNA, MATIC and FTM
Popular crypto analyst Michaël van de Poppe says the three biggest altcoins by market cap could correct before they create a local bottom. Starting with DeFi payment network Terra (LUNA), Van de Poppe tells his 575,800 Twitter followers that if the crypto market continues to show signs of weakness, the seventh-ranked altcoin project could pull back to $70:
I would slow down this time for LUNA. A nice rise, but liquidity hit an all-time high and corrected instantly. I think we’ll be looking for a little more downside momentum to get the liquidity there. About $70.
At the time of writing, LUNA is trading at $91.99, down 11% from its all-time high of $104.
Van de Poppe says he will wait for $1 for MATIC
Another cryptocurrency on the analyst’s list is Ethereum scaling solution Polygon (MATIC). According to Van de Poppe, MATIC looks heavy as LH levels tend to fall over and over again. Analyst interprets the following technical chart:
Polygon (MATIC) looks heavy for some corrections I’ll be dealing with around $1 here.
Polygon is currently trading around $1.36.
Phantom (FTM) may soon be a prisoner of selling pressure
Next up, Ethereum which Van de Poppe believes is ready to lose 26% of its value at its current price of $1.11 before it hits bottoms rival Phantom (FTM). As Cryptokoin.com reported, the announcement of DeFi developers Andre Cronje’s departure from the industry had a double-digit impact on the price of related altcoin projects FTM, TFO SOLID. Poppe details why to expect lower levels:
I’m looking at lower lows for FTM here because then it would also reduce all liquidity. That will be the bottom part of this fix.
At the time of writing, Phantom (FTM) is trading at $1.10, down 6% over the last 24 hours, down 21.68 from last week.
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