Terra Luna made a significant recovery in August, dropping from around $ 5 to $ 37. Although the rate of rise of the LUNA coin has slowed since the beginning of September, it is still on the rise. With swings, this cryptocurrency has continued to increase.
Over the past two months, moving averages have helped support pullbacks and push higher highs higher. The crypto market has seen a significant pullback this week, but LUNA / USD remains bullish.
Bullish analyst on LUNA
According to well-known cryptocurrency trader and expert, Smart Contract, Terra, Ethereum’s competitor will hit a new all-time high.
He says Terra (LUNA), the native Layer 1 (L1) blockchain token, could rise 66% from current levels and hit a new all-time high (ATH).
The trader mentions that L1’s races are not over yet and have recently started to branch out into a few more, including $ luna. “ATH and around $ 70 [definitely] on the table. “, he added.
Layer 1 blockchains are decentralized networks with the ability to directly modify protocol rules to increase capacity and speed.
At the time of this writing, LUNA was trading at $ 42.67, up 2.4% in the past 24 hours.
The decentralized financial platform Curve (CRV) governance token is also poised for a “glorious” breakthrough, according to Smart Contract, after trading in a limited range for most of the year when paired with Bitcoin (CRV / BTC).
He notes that CRV / BTC has been based for a year, and the longer the base, the higher it is in space. This break will be spectacular, he adds.
