Terra (LUNA), Bitcoin (BTC), and one other low-cap altcoin are preparing to move up, according to a popular crypto strategist.
Bitcoin, the largest crypto asset by market capitalization, will see an upcoming “spring” movement, according to pseudonymous cryptocurrency analyst Capo.
“Still expecting that ”spring” movement before the start of the mark-up.”
The trader’s chart refers to the Wyckoff method for technical analysis, an approach that aims to identify when large investors are accumulating or selling an asset. An accumulation pattern highlights a period where institutional investors are controlling an asset’s price to buy at discounted prices.
According to the trader, BTC’s current value of $46,822 places Bitcoin right around the zone where a price “spring” should occur, driving BTC upwards.
As for smart contract platform Terra (LUNA), which has exploded over 13,000% in value since January 2021, the trader sees LUNA consolidating around the $75 range before making another price jump.
Terra is trading at $87.06 at time of writing, down 4.79% on the day.
Finally, Capo foresees low-cap smart contract platform Hathor (HTR) making huge gains in the coming months.
Hathor is a scalable cryptocurrency alternative combining direct acrylic graph technology with decentralized blockchain technology. Hathor is a proof-of-work blockchain designed for real-world tokenization use cases.
Capo highlights the $2.08 range as key resistance for the little-known blockchain. Beyond that range, Capo only sees HTR moving upwards.
Hathor is currently trading at $2.10, down 2.32% on the day.