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Reputed Analyst Highlights Key Historical Patterns on the LUNA Price Chart, Does a 600% Pump Await the Altcoin?
According to recent reports, a renowned analyst has drawn attention to several historical patterns observed in the price chart of LUNA, sparking optimism regarding the possibility of a substantial price surge. The prediction suggests that LUNA could be poised for an unprecedented pump, potentially exceeding 600%.
The analysis was triggered by an intriguing parallel between LUNA’s past and current market dynamics. Notably, the cryptocurrency exhibited a similar price movement in the past following a cup-and-handle formation, which led to a remarkable price increase of over 3-fold. The analyst posits that this pattern may be repeating itself in the present scenario.
In 2020-2021, LUNA’s price chart displayed an impressive Cup&Handle formation with a predicted standard target of $3.26. While the asset did indeed break out and reach the forecasted level, it went on to exceed expectations by surpassing this milestone. Given this historical context, some believe that LUNA could be poised for another parabolic pump.
The analyst’s observation highlights potential similarities between the two periods, leading many in the cryptocurrency community to speculate about a possible 600% price increase. This extraordinary growth would mirror the asset’s past performance and potentially set a new all-time high.
It remains to be seen whether LUNA will indeed follow this trajectory, but the current bullish sentiment and market dynamics appear to be aligning with historical patterns. As investors await further confirmation of these predictions, it is essential for them to keep a close eye on LUNA’s price chart and any subsequent developments that may impact its value.
While no guarantee can be made regarding the asset’s future performance, this prediction serves as a valuable insight into the cryptocurrency market’s unpredictable nature and the potential for significant growth.
Source: cryptonewsland.com
