Analyst Van de Poppe Draws Market Bottoms For LUNA, MATIC, FTM
According to a leading crypto market analyst, Michaël van de Poppe, three altcoins: Terra (LUNA), Polygon (MATIC) and Fantom (FTM) are likely to further correct.
Terra (LUNA)
Van de Poppe shared with his 575.9K followers on Twitter that he expects Terra (LUNA) to correct down to $70 levels, if the rest of the crypto market continue to signal weakness.
“For LUNA, I would be taking it slow on this one. Nice run upwards, but liquidity has taken above all-time high and immediate correction. I think we’d be looking for some more downwards momentum to take liquidity there. Would be interested in around $70.”
At time of writing, LUNA trades at $93.95, up 8.5% on the daily chart.
Polygon (MATIC)
Next up on the analyst’s radar is Ethereum scaling solution Polygon (MATIC), which looks bearish as it continues to hit lower highs, van de Poppe notes.
“MATIC looks heavy for some corrections here in which I’d be interested around $1.”
At the time of writing, MATIC trades at $1.38, up 1% on the daily time frame.
Fantom (FTM)
The third and last coin on van de Poppe’s list is Fantom (FTM). According to the analyst it could lose over 24% of its current value of $1.08, before hitting a local bottom.
“I’m looking at the lower levels for FTM here, as then it will take down the entire liquidity too. That would be the bottom of this correction.”
I'm looking at the lower levels for $FTM here, as then it will takes down the entire liquidity too.
