March 13, 2022: Altcoin Sherpa Predicts RUNE As Bullish, DOT Bearish, LUNA Wait | BTC Price Levels To Watch: $46,000 and $34,000

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Should You Buy or Sell BTC, RUNE, DOT or LUNA Today?

As BTC remained neutral for a week (not showing any definitive signs of going one way or another) everyone is trying to predict the future.  Really, no one knows; remember that.  From a techical perspective, one might be able to increase the odds of choosing a side (Bull/Bear).  Do your own research, have a plan and don’t be afraid to pull the trigger.  If you are in the game or considering getting into it with RUNE, DOT, and/or LUNA, here is some data in which you might be interested.

What Altcoin Sherpa Thinks

A closely followed crypto analyst says one mid-cap altcoin is one of the few digital assets on the market that’s currently showing bullish potential.

The analyst known as Altcoin Sherpa tells his 170,000 Twitter followers that decentralized liquidity protocol THORChain (RUNE) is ready to rally as long as Bitcoin (BTC) manages to stay stable.

“There are a few alts that are looking good and RUNE is one of them. Good volume coming in. I’m guessing that 200-day exponential moving average provides some resistance and then we continue up if BTC stabilizes.”

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Source: Altcoin Sherpa/Twitter

THORChain is powered by the Tendermint proof-of-stake protocol and is designed to make it easy to swap crypto assets through decentralized cross-chain bridges.

While RUNE is flashing bullish signals, Altcoin Sherpa says interoperable blockchain Polkadot (DOT) looks vulnerable.

The crypto strategist says that if DOT loses the $16 mark, bears may be able to target $11, roughly 30% down from current prices

“DOT: Is at the [point of control]. If it loses this level, it’s ‘lights out’ and going to $11 in my opinion.”

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Source: Altcoin Sherpa/Twitter

Looking at Ethereum competitor Terra, the crypto analyst says that LUNA bulls may be better off waiting for a correction before placing long positions. After printing a new all-time high at $104, Altcoin Sherpa says LUNA may still need to pull back before bullish action can resume.

“LUNA: If patient then I would look for $75.

If aggressive, I would either wait for a break/retest above all time highs or mid $80s.”

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Source: Altcoin Sherpa/Twitter

When it comes to Bitcoin (BTC), the popular trader is still waiting for a break of one of two levels before taking a position. According to Altcoin Sherpa, BTC needs a clean break of either $46,000 to confirm a bull run or $34,000 to confirm further bearish action.

At time of writing, Bitcoin is trading at $39,207, almost completely flat for the past seven days.

Featured Image: Shutterstock/Voger Design/Sensvector

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