Altcoin Sherpa, a cryptocurrency trader, and an expert analyst going by the particular name has talked about the current and upcoming performance of Terra Classic (LUNC).
Sherpa made a statement through his Twitter profile where he talked about the rising price of LUNC. However, he did warn his almost 200,000 followers that the price of LUNC may get nuked in the upcoming days.
LUNC About to Nuke
The trading price of LUNC has been experiencing a significant surge and its value grew significantly in the month of September. However, the rise in the value of LUNC is also an invitation to the downtrend that may soon trigger.
Altcoin Sherpa, who is known for his active tweets and communications with his followers on Twitter about crypto market movements has made a prediction about Terra Classic.
He has even warned his followers and those who read his tweet that they must not invest in Terra Classic as a long-term investment.
He has predicted that after experiencing a high performance in the month of September, it is only a matter of time before Terra Classic experiences a dip.
Prediction by Sherpa
Sherpa has predicted that for now, the price of LUNC is moving strongly in the upward direction. He revealed that while investing in LUNC, the investors must go long at .50 and .618 as scalps.
According to Sherpa, instead of going for the longs, the investors should go for the shorts. However, Sherpa stated that eventually, the price of LUNC may end up getting nuked.
This means that the trading price of LUNC may soon experience a downtrend. This would end up becoming a loss for investors who end up holding to their LUNC investments for the long term.
Other Analysts Foresee the Same
Sherpa is not the only analyst making such a prediction surrounding the price of LUNC. Other analysts have also made the same prediction about the price of LUNC falling tremendously in near future.
It is true that LUNC is currently one of the most actively traded cryptocurrencies. Soon, the situation may change and the trading price of LUNC would dip at a significant rate.
Sherpa’s Tweet has triggered a Strong Rally
It is quite surprising that following Sherpa’s tweet, a great surge has been recorded in LUNC’s trading price. The surge has been recorded despite the overall situation of the market being highly volatile.
The global exchanges have recorded a great surge in the trading volume of LUNC in the past 24 hours. The report shows that $745 million worth of trading volume was recorded for LUNC in the said period.
Some analysts claim that by the end of 2022, LUNC’s trading volume might surge to $1.5 billion.
As per statistics, LUNC has recorded a 120% rise in its value in the month of September.
