A widely followed digital asset trader and analyst is predicting a massive fall in price for a heavily traded cryptocurrency.
Pseudonymous crypto analyst and trader Altcoin Sherpa tells his 183,500 Twitter followers that the original utility token of the collapsed Luna ecosystem, Luna Classic (LUNC), is “going to nuke.”
According to Altcoin Sherpa, he can only buy LUNC for the short term, preferably if it falls to the key Fibonacci levels of 0.5 (50%) and 0.618 (61.8%).
“LUNC: Still a massive shitcoin, I would only long at the 0.50 and 0.618 as scalps. Look higher for any potential shorts; this one is going to nuke to hades eventually. Don’t buy this for the long term in my opinion.”
Despite the collapse of the original Luna ecosystem, LUNC is heavily traded and constantly features among the top ten most traded crypto assets by volume. At the time of writing, LUNC was the ninth most heavily traded crypto asset, having recorded trading volumes of approximately $745 million over a...
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