The cryptocurrency market is advancing this Saturday, and this situation also supports the price of Terra LUNA/USD, Ethereum Classic ETC/USD, and Waves WAVES/USD.
According to David Meger, director of High Ridge Futures, the current rise is very technically motivated, and the risk premium and safe-haven demand will continue to be in the focus of investors.
The uncertainty of potential outcomes between Ukraine and Russia looms over investors, and they tend to seek safe places to put their money. Wells Fargo warned its clients to keep trade sizing small given uncertainties around the situation because mistakes are easily made in a conflict like this. Wells Fargo added:
Recent developments of perhaps a full-scale ongoing Russian invasion of Ukraine have material negative short and medium-term humanitarian consequences as well as potentially longer-term implications for geopolitical tensions elsewhere.
Bitcoin is trading above the $39,000 level, but there is a risk of further escalation in the conflict between Ukraine and Russia, and riskier assets could be again under pressure.
The crypto community has also decried Russia’s attack on Ukraine, and investors will continue to watch this situation very carefully. According to some rumors, Ukraine is seeking cryptocurrency donations to help fight against Russia’s attack, and it is important to say that millions of dollars worth of funds have been raised for Ukraine over the last few days.
Ukraine’s official Twitter account announced that it is accepting Bitcoin, Ethereum, and Tether, while Ukraine’s Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov also reacted positively to this announcement, which suggests that the request could be legitimate.
LUNA is trading above $70Terra (LUNA) has advanced from $47 to $100 since February 20, and the current price stands at $75.
Data source: tradingview.com If the price breaks the support level at $60, it would be a very strong “sell” signal, and the next target could be around $50.
The upside is probably limited for the upcoming days, and traders should use “stop-loss” and “take profit” orders when opening their positions because the risk is currently high.
ETC has stabilized above $25
Data source: tradingview.com The risk of another decline is probably not over, but if the price jumps above $40, we have the open way to $50.
If the price falls below the strong support that stands at $20, it would be a strong “sell” signal, and the next target could be at $15.
WAVES has support at $10Waves (WAVES) has advanced from $8.2 to $11.7 since February 22, 2022, and the current price stands at $11.6.
Data source: tradingview.com The current support level for WAVES stands at $10, and if the price falls below it, the next price target could be around $8 or even below.
On the other side, if the price jumps above $15 resistance, it would be a strong “buy” signal, and we have the open way to the $20.
SummaryThe cryptocurrency market is advancing this Saturday, but the current rise is very technically motivated, and the risk premium and safe-haven demand will continue to be in the focus of investors. The uncertainty of potential outcomes between Ukraine and Russia looms over investors, and they tend to seek safe places to put their money.
The post Terra, Ethereum Classic, Waves price forecast for March 2022 appeared first on Invezz.
