Analyst Says One Altcoin Primed To Skyrocket, Gives Update on Ethereum (ETH), Terra (LUNA) and Avalanche (AVAX)

Time Stamp: February 10, 2022 5:15 AM
Source Node: 1884304

The anonymous host of cryptocurrency channel InvestAnswers is listing one altcoin that he expects to “skyrocket.”

InvestAnswers tells his 409,000 YouTube subscribers that Cosmos (ATOM), a network of many independent but interconnected blockchains known as zones, is slated to surge by about 40% in a month or less.

“It’s pretty clear to me that we will hit $45 in probably a month or less. It [ATOM] just looks absolutely perfect and set to skyrocket as we go forward. Not much selling pressure on the horizon and we should be able to get to that level [of] $45 which it hit four or five times in the last couple of months.”

ATOM is trading at $31.08 at time of writing.

Next up, InvestAnswers says that Ethereum (ETH) is currently at the 0.5 Fibonacci level, a key Fibonacci retracement level that represents the halfway mark of a prevailing trend.

The crypto analyst adds that ETH could hit a new all-time high if it manages to break above the 50 and 200-day moving averages.

“We’re now getting close to the 0.5 Fibonacci level, about $3,300. Notice as well we need to break through the 50-day moving average. And then the next is to break through the 200-day moving average. And then we’ll get to hopefully $3,700. After that, $4,150. After that, new all-time high $4,800.”

ETH is trading at $3,146 at time of writing.

Next up is the native token of Terra (LUNA), a blockchain protocol consisting of a suite of decentralized stablecoins.

The crypto analyst says that LUNA is eyeing the $65 price level after bouncing off the 200-day moving age.

“This one [LUNA] is making a nice recovery too…

We are heading back towards the 0.386 Fibonacci level of $65. And then after that, you know LUNA can move very very fast when it wants to.”

LUNA is trading at $55.55 at time of writing.

Next up is the native token of Avalanche (AVAX), a smart contract-enabled blockchain. The crypto analyst says that AVAX is in an overbought zone based on the Relative Strength Indicator (RSI). The RSI indicator ranges from 0 to 100 – where 70 or higher indicates overbought conditions, and potentially the end of a rally, while 30 or lower indicates oversold conditions, and potentially the end of a sell-off.

“Avalanche did get rejected off the $95 level. It’s now at about $87 and the RSI is quickly approaching overbought…

Avalanche chart might be running a little bit out of steam, we’ll see. But hitting $95 was a clear selling point.”

AVAX is trading at $88.85 at time of writing.

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