LUNAUSDT - What about LUNA? - Mid-term target
Updated
Hi to all TV people, this is my LUNA idea.
Like most of you know, LUNC and LUNA are historically related since last year.
But how deep is this correlation?
Long story short:
1) Lunc is the ex Luna token, the one plunged from 120$ to sub 0$.
There were a relation with UST (now USTC), terra stablecoin.
UST started the de-peg from original price of 1$ due to 85 million UST being swapped to
USDC.
Then LUNA started printing tokens to re-peg UST, but death circle started and whales started
selling more UST (most losing money), causing a lost of value on LUNA.
Also LUNA tokens were sold by holders in loss.
The Terra blockchain was halted for the first time in his history on May 12, 2022, at block
height 7603700 to stop the infinite token printing.
Everything happened in just few days.
2) May 28, 2022 a new Luna (Luna2) was launched as post hard-fork token.
Do you remember some other hard fork token? I'll tell you: ETH and ETC.
I won't go further because I'm doing a technical analysis, not fundamental.
All of this to get to the point: Lunc and Luna aren't the same token, most of charts from exchanges are showing wrong history price.
So this LUNA2 token price starts officially from 1$.
Now, we have this accumulation stage, with the falling wedge that Luna already broke out.
The first, measured, target price is around 2.5$.
Should you trade it with high leverage? Answer is NO. Yestarday dumped from 1.22$ to sub 0.9$ (depends from the exchange) in matter of minutes.
Then, after some time of consolidation, or maybe less, next target would be somewhere between 4 and 4.5$.
LUNC and LUNA are bonded by history and price action. So I expect more gains from here as Lunc did in the past week.
This is my view, not a financial advice. Always DYOR.
Like most of you know, LUNC and LUNA are historically related since last year.
But how deep is this correlation?
Long story short:
1) Lunc is the ex Luna token, the one plunged from 120$ to sub 0$.
There were a relation with UST (now USTC), terra stablecoin.
UST started the de-peg from original price of 1$ due to 85 million UST being swapped to
USDC.
Then LUNA started printing tokens to re-peg UST, but death circle started and whales started
selling more UST (most losing money), causing a lost of value on LUNA.
Also LUNA tokens were sold by holders in loss.
The Terra blockchain was halted for the first time in his history on May 12, 2022, at block
height 7603700 to stop the infinite token printing.
Everything happened in just few days.
2) May 28, 2022 a new Luna (Luna2) was launched as post hard-fork token.
Do you remember some other hard fork token? I'll tell you: ETH and ETC.
I won't go further because I'm doing a technical analysis, not fundamental.
All of this to get to the point: Lunc and Luna aren't the same token, most of charts from exchanges are showing wrong history price.
So this LUNA2 token price starts officially from 1$.
Now, we have this accumulation stage, with the falling wedge that Luna already broke out.
The first, measured, target price is around 2.5$.
Should you trade it with high leverage? Answer is NO. Yestarday dumped from 1.22$ to sub 0.9$ (depends from the exchange) in matter of minutes.
Then, after some time of consolidation, or maybe less, next target would be somewhere between 4 and 4.5$.
LUNC and LUNA are bonded by history and price action. So I expect more gains from here as Lunc did in the past week.
This is my view, not a financial advice. Always DYOR.
Trade active
If market gives you the chance, start accumulating spot between 0.9 and 1.05.Christmas sales are still open.
Trade active
LUNA doesn't look so strong to bounce with decision from 1$. Let's see.Remainder: Only use spot position to trade it, price action is too volatile.
Trade active
LUNA now looks good for a reversal. UP trigger on.Trade active
Trade active
Breakout failed due to BTC correction. Now it's consolidating below 1$. Reload your wallet (spot) between 0.80 and 0.90.
Mid to long-term will be rewarding.
Trade active
Still holding strong spot. Now LUNA is trading above 1$. Having also a look on market, still more upside targets to come!
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