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A widely followed digital asset trader and analyst predicts a significant drop in the price of the heavily traded cryptocurrency.
Pseudonym Crypto Analyst and Trader Altcoin Sherpa To tell His 183,500 Twitter followers say that Luna Classic (LUNC), the original utility token of the collapsed Luna ecosystem, will “go nuclear.”
According to Altcoin Sherpa, he can only buy LUNC in the short term and preferably only if it falls to the key Fibonacci levels of 0.5 (50%) and 0.618 (61.8%).
LUNC: Still a massive shitcoin. I only covet 0.50 and 0.618. Look higher for potential shorts. This guy will nuke Hades eventually. I In my opinion, don’t buy this long term.”
Despite the collapse of the original Luna ecosystem, LUNC is heavily traded and consistently ranks among the top 10 most traded crypto assets by trading volume. At the time of writing, LUNC is his 9th most traded crypto asset, with a trading volume of around $745 million in 24 hours.
Over the past 30 days, LUNC has surged over 120%. At the time of writing, LUNC is trading at his $0.000279, up about 121% from his low of $0.000126 on August 31st.
Altcoin Sherpa’s dark predictions for LUNC coincide with news that Do Kwon, the founder of the collapsed Luna ecosystem, is being hunted by the police. According to recent reports, Interpol issued an international wanted notice to Kwon on behalf of South Korean prosecutors.
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Featured image: Shutterstock/LongQuattro/BAYU SODIKIN
