Analyst Jason Pizzino has listed 3 altcoins that he expects to perform relatively well in March.
First up is Ethereum’s rival, Terra (LUNA). Pizzino says the native blockchain token powering the stablecoin-generating smart contract is gaining strength.
LUNA/USDT | Source: Jason Pizza
According to Pizzino, LUNA is above the 50% Fib retracement level, which is used to identify support or resistance after reversing from a recent higher low.
“I like LUNA very much. It showed some strength above the 50% Fib retracement and also established a higher low. The price has surged through the next range of the 50% Fib retracement. Looks like trying to consolidate on the previous lower stirrup…
LUNA is definitely on my swap list. It is looking strong, breaking out strongly of this pattern and multiple support levels and currently consolidating at higher levels. So LUNA popped up on my list.”
Next is Cosmos (ATOM), a multi-blockchain ecosystem designed for scalability and interoperability.
ATOM/USDT | Source: Jason Pizzino
According to the analyst, ATOM could consolidate before making a big move.
“ATOM has fallen off double tops but has now found support at previous lows around $20-21. The price climbed back above the $32 high. So, once again, this altcoin is really showing strength…
Hopefully this is a consolidation before another big step.”
Next is Near (NEAR), an Ethereum Layer 1 competitor that is scalable and easy to use. Pizzino says NEAR has risen above the 50% Fib retracement level from the recent lows.
“NEAR also bounced back above the 50% Fib retracement. So far these levels all look very strong.”
NEAR/USDT | Source: Jason Pizzino
According to the analyst, the best entry point for NEAR is above $14.
“A low risk trade would be back above $14 for me… Obviously the reward would be lower because you bought at a higher price. But at least this altcoin has a stronger position.”
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Minh Anh
According to DailyHodl
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