An altcoin that has risen three digits in the past two weeks has been the subject of a positive statement from a well-known crypto analyst.
Altcoin Sherpa says it will continue to run for this coin that makes 250%
The crypto analyst, nicknamed Altcoin Sherpa, tells his 182,700 followers that Luna Classic (LUNC), Bitcoin (BTC) and Ethereum (ETH) will continue to rise based on Fibonacci indicators as long as they “continue”. LUNC is the first version of Terra (LUNA) Blockchain, also known as Terra 2.0. Sherpa says about LUNC that the rally will continue:
In my opinion, Fibonacci extensions should be used to stop points. I predict this will continue for a while as long as the parabolic run remains stable for BTC and ETH.
Luna Classic gained 257% from its opening price of $0.00106 on August 24 and closing price of $0.000379 on September 6. Terra (LUNA) is currently trading at $1.93.
Why is the Terra ecosystem rising?
The price of the Luna Classic rallied after an offer was approved for a new airdrop payment to LUNC holders who did not receive the proper allocation of the LUNA airdrop. After the original Terra ecosystem collapsed in May, the idea for the first airdrop took off. The failure of the original Terra ecosystem’s flagship stablecoin, TerraClassicUSD (USTC), mined from the US dollar, was the catalyst for the ecosystem’s demise.
Another coin on Altcoin Sherpa’s list has become Phantom
Blockchain Fantom, which supports smart contracts, is on Altcoin Sherpa’s (FTM) list. The mysterious analyst claims that Phantom found short-term support at $0.2396, but could later drop more than 20% from its current levels:
I haven’t looked at this crappy coin for a while, but I wouldn’t be shocked if it dropped below $0.20 at some point. However, if BTC and ETH hold or rise, this is a short-term bottom.
Phantom is trading at $0.2514 at the time of writing.
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