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LUNC vs LUNA - Correlation Shift!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. Many creators / authors here perfectly covered the fundamentals regarding LUNC and LUNA. So I thought it would be a good idea to translate it into numbers, how I digest things better as a pure price action trader. Let's split the charts into two phases: PHASE 1: Green Level: 29 May 00:00 LUNC (Left Chart) rose 117% while LUNA (Right Chart) rose 28% The correlation between LUNC and LUNA was positive. But LUNC won the battle big time! As both assets rose, but with LUNC moving upward more aggressively! HOWEVER... here is when it becomes interesting! PHASE 2: Purple Level: 30 May 09:00 LUNC (Left Chart) dropped 57% while LUNA (Right Chart) rose 50% The correlation suddenly shifted from Positive to Negative. What really happened in PHASE 2 ? Are LUNC holders taking profit to buy LUNA? Which team are you in? LUNC or LUNA? None? and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
9
#LUNC/BUSD Buy and hold! Are u ready 15M BEST ENTRY UPDATE !Welcome to this quick LUNA/BUSD analysis. I have tried my best to bring the best possible outcome in this chart. Reason for trade:- Luna Classic (LUNC) is the native token of the original Terra Luna blockchain. The renaming of this token comes after the recent collapse of the. LUNA/BUSD best entry at the price level. In a few minutes, LUNC/BUSD will be open for trade. let's see how the new version performs. Entry:-CMP, $0.00011757 Traget:- 90% Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. Thank you...
Long
by CryptoSanders9563
2
LUNA/BUSD Daily TA Cautiously BearishLUNA/BUSD Daily cautiously bearish. *With 17 hours left for the Terra community to vote on whether or not to fork a new chain, 66% remain in favor which all but guarantees that the current chain will become LUNC and the new chain (without UST) will be LUNA on May 26th EST (May 27th SGT). As it currently stands there is still almost no value proposition for buying LUNA before 03:59:51 PM EST (UTC-4) on May 26th (03:59:51 AM SGT (UTC+8) on May 27th) unless you believe that the current LUNA is salvageable and that LUNC will undergo a massive burn along with getting rid of or fixing the UST peg. For long term investors who believe both LUNC and LUNA will have future value similarly to ETC and ETH, this would be a reasonable time to buy a few LUNA.* Recommended ratio: 1% LUNA, 99% cash. Price remains trading under $0.001 cent and will likely continue to do so leading up to the fork on May 26th EST. Volume has been shrinking but remains moderately high and has favored sellers in eight of the past 10 sessions. Parabolic SAR flips bullish at $7.14, this margin is bullish. RSI remains flatlined at 14.25 for a fourteenth consecutive session. Stochastic also remains flatlined (at max bottom) for a fourteenth consecutive session. MACD remains bullish after crossing over in yesterday's session, showing that there is at least some buying interest (probably those who bought to burn). ADX remains trending up slightly at 61 as Price continues to see selling pressure keeping it below $0.001 cent. If Price is able to breakout above $0.01 cent (only way possible is with a massive burn accompanied by buyer interest), then the next likely target is a test of $0.27 cents. The only other option is for it to range here between $0.00016 and $0.00 before it undergoes the rebranding (LUNC). Mental Stop Loss: (two consecutive closes above) $0.01 cent.
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by dailytaguy