Terra LUNC - 47% drop is in-play!
- Maybe there is nothing that can stop an upcoming dump on LUNC at all. The bears are really strong here and we are currently 60% down from the previous swing high.
- As you can see, the price is breaking down from the local descending triangle and heading downward to the abyss. Also, we have a descending parallel channel , and we can possibly touch the bottom of the channel!
- If you think LUNC is a great coin, then you can buy LUNC at 0.00013, which is a reasonable place to buy because there is a great confluence.
- As per my Elliott Wave analysis, the uptrend from September 26 to October 2 was just a 2 wave corrective move. This is definitely not what you want to see as a bull.
- You can be sure I will also be bullish on LUNC, but first I want to see some bullish price action, and this is definitely not a bullish price action!
- But on the other side, this coin is a perfect opportunity for the bears to short this coin on the futures market.
- Look at my idea about XRP in the related section down below.
- For more analysis, hit "Like" and "Follow"!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.