Kaleo Predicts Big Bounce for LUNA After Sharp Decline
Widely-followed crypto analyst, Kaleo, predicts sharp uprise for LUNA after a brutal 82% drop from an all-time high of $22 to a low of $4.00.
Trader and crypto strategist Kaleo, tells his 314K Twitter followers a bullish picture for Terra’s (LUNA) recovery, amid its sharp drop in the crypto market.
Kaleo expects a price climp up to double digits, a 2.5x jump at minimum from its low.
“The LUNA BTC chart looks rough, but the USD one looks a hell of a lot better. Clean bounce so far on strong HTF support.
I’ll be shocked if this doesn’t get a relief bounce at least back to double digits.”
Kaleo points out that Terra is one of the best performers among other altcoins, shooting up more than 50% from its low, since the market began its recovery from the latest correction.
“LUNA still the best performing alt of the day up more than 50% from the lows after the bounce from HTF support.”
Terra was created by Korean blockchain company Terraform Labs.
Terra is a decentralized financial payment network that uses fiat-pegged stablecoins to settle global payments. It runs on a proof-of-stake blockchain that utilizes its reserve currency, LUNA, to provide security and validation to the network.
Terra is looking to become the first usable currency and stability platform on the blockchain, unlocking the power of decentralization for mainstream users, merchants, and developers.
