Altcoin Sherpa Expects LUNA To Bottom Out, Updates NEAR, DAO, LOOKS
A popular crypto analyst, known as Altcoin Sherpa, projects the next moves for Terra (LUNA), Near Protocol (NEAR), DAO Maker (DAO) and LooksRare (LOOKS).
Terra (LUNA)
The analyst shared with his 174.8K followers on Twitter that Terra’s native token LUNA could be closing in a local bottom.
“LUNA: Close enough to the 200-day exponential moving average for this to still hold as support but this area has been tested several times already. Wouldn’t mind seeing a spike to the high $60s for this to maybe bottom.”
$LUNA: Close enough to the 200D EMA for this to still hold as support but this area has been tested several times already. Wouldn't mind seeing a spike to the high 60s for this to maybe bottom. #LUNApic.twitter.com/xbbYTpgXcK
At time of writing, LUNA trades at $86.03, up 4.37% on the daily chart.
NEAR Protocol (NEAR)
Altcoin Sherpa next looks into NEAR, and expects it to move up in the near term after a recent correction.
“I still think this area is good for a short-term bounce at a minimum given the 200-day exponential moving average + 786 Fibonacci level. That said, I don’t expect this to break all-time highs from this area personally.”
$NEAR: Im still in this position but I executed terribly (as stated before). I still think this area is good for a short term bounce at a minimum given the 200D EMA + 786 fib. That said, I dont expect this to break all time highs from this area personally. #NEARpic.twitter.com/rmw0BJaxHk
At the time of writing, NEAR trades at $13.04, up 6.43% on the daily.
DAO Maker (DAO)
Next up on the list is DAO, the governance token of the DAO Maker platform, which aims to redefine venture capital for the masses, by providing scalable technologies and funding support to tokenized startups.
According to the analyst, despite recent up-trend, DAO still has room to move up.
“I think this is one of the better-looking altcoin charts right now. 200-day exponential moving average could act as resistance, but this one held up pretty well over the last few weeks despite the market dumping. I think $4 is coming soon.”
$DAO: I think this is 1 of the better looking altcoin charts rn. 200D EMA could act as resistance but this one held up pretty well over the last few weeks despite the market dumping. I think $4 is coming soon. @TheDaoMakerpic.twitter.com/wsbdGaHT76
At the time of writing, DAO trades at $3.55, up 8.5% in the last 24 hours.
LooksRare (LOOKS)
The fourth and last digital asset on Altcoin Sherpa’s list, is LOOKS, the native token of (NFT) marketplace LooksRare.
According to the analyst, LOOKS must clear its immediate resistance at $2.20 in order to continue its bullish momentum.
“LOOKS is still moving. I added at $1.40, but wish I added even more. I liked the confluence of 786 (Fibonacci level) + POC (point of control) of the entire price history. Needs to break $2.20 though.”
$LOOKS is still moving, I added at 1.40 but wish I added even more. I liked the confluence of 786 + poc of the entire price history. Needs to break 2.20 though. https://t.co/kupHa5DwM1
