Analyst Michaël van de Poppe Predicts Bottoms for Terra (LUNA), Polygon (MATIC) and Fantom (FTM)

Source Node: 1214502

Popular crypto analyst Michaël van de Poppe says he expects three of the largest altcoins by market cap to continue correcting before they establish a local bottom.

Starting with decentralized finance (DeFi) payment network Terra (LUNA), Van de Poppe tells his 575,800 Twitter followers that he sees the seventh-ranked altcoin pulling back down to $70 if the crypto markets continue to show signs of 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.”

Source: Van de Poppe/Twitter

At time of writing, LUNA is trading at $88.34, down 15% from its all-time high of $104.

Another coin on the trader’s list is Ethereum scaling solution Polygon (MATIC). According to Van de Poppe, MATIC looks heavy as it repeatedly prints bearish lower highs.

“MATIC looks heavy for some corrections here in which I’d be interested around $1.”

Source: Van de Poppe/Twitter

Polygon is currently exchanging hands for $1.36.

Next up is Ethereum competitor Fantom (FTM), which Van de Poppe believes is poised to lose over 26% of its value from its current price of $1.11 before carving a 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.”

Source: Van de Poppe/Twitter

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

The post Analyst Michaël van de Poppe Predicts Bottoms for Terra (LUNA), Polygon (MATIC) and Fantom (FTM) appeared first on The Daily Hodl.

Time Stamp:

More from The Daily Hodl