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A widely watched cryptocurrency analyst has warned investors about altcoins surging over 330% since August.
Pseudonymous trader known as Crypto Capo To tell His 510,000 Twitter followers believe Terra Luna Classic (LUNC), a rebranded version of stablecoin issuer Terra (LUNA), is bad news and investors should avoid it.
How many people do you think will fall for the LUNC scam again?
My advice: stay away.
After the stablecoin detached from the US dollar, LUNA crashed in May, losing over 99.9% of its value. According to Capo’s charts, LUNC is set to experience a major crash in the next few days.
The cryptocurrency is currently trading at $0.000439 at the time of writing, down 16.46% on the day but up a whopping 337% since early August.
Analysts continue to give a bearish outlook on a handful of digital assets, including Bitcoin (BTC).
Capo Predict The top crypto asset by market cap will rise to the $22,500 to $23,000 range after regaining support near $19,600.
We got a second bullish confirmation by regaining $19,600 with strong volume.
The price is currently in resistance and may come back a bit, but in my opinion it will rise recently and become the main target of $22,500 to $23,000.
The analyst’s chart shows that he believes Kingcrypt will fall into the $14,000 to $16,000 “buy zone” during October.
Bitcoin is currently trading at $21,290, up 9.8% for the day.
Capo is also eyeing smart contract platform Cardano (ADA). According to his analysis, Cardano will rise to around $0.55 before dropping back to the $0.35 territory in mid-September.
Cardano is currently valued at $0.52, up over 7% over the last 24 hours.
analyst too Note Ethereum (ETH), the top altcoin, will follow a similar pattern. His chart shows him rising to $1,800 before leading smart contracts his platform drops into his $1,350 range.
“[Stop/loss] Triggered at the breakeven point.Re-enter this deal in better shape [risk ratio]Same goal ($1,800)
ETH is trading at $1,717 at the time of writing.
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Featured Image: Shutterstock/Leszek Glasner/Sensvector
