Terra, Solana, And One More Altcoin Could Ignite Bigger Rallies, According to Analyst Josh Moden

A prominent crypto strategist Josh Moden says he is expecting Terra (LUNA), Solana (SOL), and Audius (AUDIO) to ignite huge rallies while Bitcoin is stagnating.

Audius (AUDIO)

According to the trader, the market appears bullish after the viral app Tiktok chose Audius to power its new “TikTok Sounds” library.

As a result, prices for AUDIO, the governance token of decentralized music streaming protocol Audius, nearly doubled in the past 24 hours to $3.10, pushing its market capitalization above $1 billion for the first time.

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Although the AUDIO chart looks like a straight pump and dump, the analyst believes that it is not going to happen. Instead, as AUDIO came into this key area of supply and hit about 50 of it and then have come back down, AUDIO has almost hit a 50% retracement.

Moreover, when looking at the 4-hour chart, the analyst expects AUDIO to hit the 50% level on the Fibonacci at around $2.80, and then a nice push back up could happen at $4.

Terra (LUNA)

Recently, the Digital collectibles platform Terra Virtua has moved from the Ethereum blockchain to Polygon in an attempt to be greener.

According to the trader, Terra Virtua said it had switched to Polygon as part of a plan to create a more sustainable nonfungible token, or NFT, ecosystem. The platform claimed the move would reduce the energy necessary to create a single NFT by more than 99%. However, Terra Virtua will also remint all digital collectibles previously unsold on Ethereum in the move to Polygon.

At the same time, Terra’s LUNA tokens hit all-time highs of $26.81 as the total market capitalization of cryptocurrency broke $2 trillion for the first time since May.

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“From a technical standpoint, LUNA has pushed up amazingly from the level that we had marked out,”

The crypto KOL says that there is a key level of demand on the 4-hour chart between $20 and $22. The trader expects to see a pullback at the level of around $21.09 before LUNA can continue the uptrend to newer all-time highs. 

“I think 30 to 40 dollars would be a great price to see this in the next couple of months.”

Solana (SOL)

Last on the list is Solana as SOL, the in-house token of decentralized computing platform Solana, continued major gains on Tuesday to become a top 10 cryptocurrency.

According to Moden, last Thursday, Mango markets, a high-speed, decentralized exchange powered by Solana, announced a successful $70 million crowdfunding. A week ago, the Solana Foundation launched the Wormhole update, allowing integration between different types of blockchains on its networks, such as the Binance Smart Chain, non-fungible tokens (NFTs), and crypto price data.

SOL is up 40%, valuing the token at more than $74. It has managed to break past its peak of mid-May and has a market cap of more than $20 billion.

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The analyst says that there is a key level of demand at $61 and that is why SOL has rallied from 62 dollars up to 75. However, he points out that SOL will fall out to the $63 level because we are now facing once again another level of demand around $61 to $66.

The crypto KOL also notes that SOL is more likely to retrace to the level around $55 to $60 before pushing back up $100 this year.

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