Terra (LUNA) is currently trading at $95 and crypto expert ‘Invest Answer‘ revealed that he’s super bullish on the stablecoin. Analyst ‘Invest Answer’ predicted to his 433,000 subscribers on YouTube that Terra could jump from its current levels and reach anywhere between $110 to $120 in the next coming weeks.
“Luna is exactly at the 50-day moving average at around $93-$94 and we should go to $110- $120. (Terra also has) the third-largest stablecoin by market cap,” he predicted in his latest video. However, he warned that if the market dips due to conditions beyond our control, Terra could slip to as low as $76.
Read More: Is Terra’s UST indeed leading the stablecoin race?
He also forecasts that Terra’s popularity will rise once the bull run starts and attract more investors into its fold. In return, this could make its price propel further in the indices and hover near its all-time high of $119.
Coming to Bitcoin, the expert predicted that its price could go up based on a correlation with the US dollar index (DXY). In terms of price movements, BTC will rely on DXY in the coming weeks and will go in tandem with its rally, he claimed. “After a big DXY rally, the Bitcoin price rallies. Also, the corollary is true. After the DXY tanks, Bitcoin then tanks afterwards and on and on,” he said.
Read More: Yet another phishing attack? Terra users lose $4.3 Million, according to security firm
You can watch the price prediction of Terra (Luna) for the next few weeks by ‘Invest Answer’ below:
Terra (LUNA): Price Performance
Terra touched its all-time high of $119 this month and is now down -20% from its ATH. Several analysts have predicted that LUNA could stay true to its tag of the ‘Ethereum killer’ and surge ahead in price this year.
At press time, Terra (LUNA) was trading at $94.81 and is down -0.4% in the 24-hours day trade. However, the crypto is up a staggering +616.1% over the last 365-trading days giving early investors a handful of profits.