LUNA PricetargetsIf Luna gets mad again, and sees those high Fib extensions again, we could scratch another Zero in the next push.
Last Breakout brought us to the 400% extension, that would mean a 0.00176 Luna after the next wave up then retrace back to last high.
See that perfect backtest of the old "post crash" ath as support? (green arrows)
Definetly some algos involved in this trading patterns imo.
Watch UST USD for more recovery in order to back this up.
THIS MADNESS IS PROBABLY OVER IF WE EVER BREAK BELOW THAT "POST CRASH" ALLTIME HIGH WE JUST TESTES AS SUPPORT!!
We're talking pure bullish momentum here, LUNA is already back to 2bil market cap,
remember the market cap!! before you start dreaming.
Even at its best days Luna probably hat around 50bil give or take market cap, so were talking a 20x potential here round about at best, to old all time high levels,
and we still dont even know, wth is going on with LUNA, it could be gone again very soon.
Somebody made 50.000% in about 24 hours with this move, PLEASE for the love of god, DONT get his bagholders out there.
Stablecoin
Somebody made 50.000% in 36 hrs on LUNAI don't know, what exactly happened here, but something tells me, it is bad for humanity =)
Massive redestrebution of wealth happened here.
Trillions of Luna got bought in that small window at the bottom and get distributed now into the hype with 50.000% of profit in
less than two days
INSANE
Bitcoin | The Prevented Crypto Crash | BTC and USDTHey guys, I hope you are doing fine and I really hope that you didn't lose (much) in the LUNA / UST drama. This is going to be a little bit different than my usual ideas on TradingView.
What we witnessed the last couple of days was what I consider a minor Crypto crash that could have developed into something even worse. On the one hand we could argue that this was an overdue cleansing of the Crypto market forced by the breakdown of an algorithmic stablecoin, that just wasn't "well-developed", but on the other hand we prepared us, that this drop could occur once we lost the falling wedge and the price couldn't stabilise around our January / February lows. This was just very basic TA. Of course the LUNA / UST crash accelerated the whole thing. But in the end Bitcoin had to go down because there wasn't any support.
I told you that losing $28.8K would be a very hairy situation and indeed it was! It didn't hold up. You can see on the 1HTF that BTC got some short-lived support around the January '21 low at about $27.678 but after that $30K was too big of a resistance and brought BTC all the way down to yet another low at 25.338.
That monster candle of support at 9 am yesterday was beyond important. You all have no idea how important that actually was. Now to fully understand what did and what could have happened, we'll need to take a look at the USDT/USD chart. Now do me a favour and compare these two charts next to each other:
Once BTC lost $28.8K as support at around 10pm on Wednesday, we saw that Tether (USDT) started to lose its peg to the US Dollar (first white arrows in the charts). This undermines what significance that $28.8K level actually had. Actually, the process started earlier, but given the fact that 1 USDT is not always 1 USD, but rather ~0.99 USD, we will not discuss the smaller alterations before 10pm.
After that Tether was able to almost regain its peg. However, once BTC lost the $27.678 level, causing "real" panic, Tether was put in a position that could have ended in a "real" crypto crash beyond what we can imagine imo. Take a look at the second white arrows in the chart at around 6 am yesterday.
The sell off that started with losing that key level (Jan '21 low) and the panic that set in caused Tether to completely lose its peg ending with 1 USD being worth ~ 0.94 USDT, that's almost a 6% drop.
Now I'm not someone who concentrates on the what-ifs, but in this case it's different.
You all probably know that Tether is not an algorithmic stablecoin (as UST was), but instead a stablecoin that claims to be backed by FIAT currency, because for each Tether USDT there is (or better to say there should be) 1 US Dollar in Tether's reserve, thus making it stable. Unfortunately or fortunately (that is depending on your own point of view), Tether is not solely backed by the US Dollar, but the company behind Tether used these US Dollars to buy "other" assets. They claim to be transparent about what they actually hold and have put a website online, which informs about their holdings here: tether.to
So, what is the issue here? According to their website, Tether's reserve consists of:
- 6.38% Other Investments (Including Digital Tokens)
- 5.27% Secured Loans (None To Affiliated Entities)
- 4.61% Corporate Bonds, Funds & Precious Metals
- 83.74% Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper
That makes Tether vulnerable to the market's movements because essentially, their company is a market participant, that has a big exposure in major asset classes. And not only is Tether vulnerable when it comes to BTC's movements, but also vulnerable to the big US indices and their movements such as the NASDAQ, S&P500.
Now given the fact that we lost crucial levels on BTC, people panic selling and withdrawing their USDT to USD and with the major US futures being red during that time frame, this could have developed into a death spiral IF the sell pressure would have continued. At some point Tether would have had to sell their assets at a loss to provide enough liquidity for each Tether withdrawal.
Meanwhile Tether's CTO essentially tweeted that everything was ok and that there would be enough liquidity for all withdrawals. But put yourself into his shoes. Would you tweet anything else? You probably wouldn't. Does that mean that this is the truth? Well...
The points I'm getting at are:
a. We should be very very thankful to whoever bought at the lows around $25.3K and therefore ending what could have lead to a big (maybe even the biggest) Crypto crash.
b. We should also be thankful to everyone who bought Tether at its lows and therefore possibly preventing a tragedy.
Now comes the most important part:
c. Tether is and has always been a risky asset and it continues to be. Now a huge chunk of my portfolio consists of USDT. But I would advice you to diversify your portfolio to reduce your overall exposure. Get some USD, get some BUSD.
d. Only invest what you can afford to lose.
Full disclosure: I don't want to spread FUD or panic. I just want you to understand the "hidden" risks.
Namaste
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. * WARNING: If LFG is unable to reestablish the LUNA:UST peg, they may be forced to close down operations -- this would lead to an inevitable delisting of LUNA on all exchanges. * *LUNA is quickly making its way to as close to 0 as possible as it continues to be minted in attempt to salvage the UST peg*. Due to LUNA having fractions of a cent to move further down, I am sticking with my recommended ratio of: 5% LUNA, 95% cash ; however, for the bold believers (lunatics), this is perhaps a once in a lifetime opportunity to scoop up some LUNA (very low risk/very high reward - $50 USD would get you about 20k LUNA right now, and if LUNA were to return to even 1% of its ATH that $50 would be worth about $25,000). Given the circumstances, Volume hit a new ATH today and is now on track to favor sellers for 8 consecutive sessions. Parabolic SAR flips bullish at $64.14, this margin is very bullish. RSI is currently trending sideways along the ATL at 14.44 for the second consecutive session. Stochastic remains bearish and is currently trending sideways along max bottom in the bearish autobahn for a third consecutive session. MACD remains bearish and is currently forming a new ATL at -19.47 with no signs of trough formation. ADX is currently trending up at 32 as Price continues to fall closer to 0, this is bearish. If Price is able to find some kind of support here near 0, then it will likely bounce to test the previous ATL at $0.10 as resistance before potentially testing $4.67 resistance (this is almost entirely dependent on UST reestablishing the 1:$1 peg with LUNA). However, if the peg is unable to be reestablished I imagine that LFG will be forced to close operations (Do Kwon has alluded to this in the past) and LUNA will become defunct. Mental Stop Loss: (two consecutive closes above) $4.67.
**Traders entering this position should be prepared to lose their entire investment**
The Death of (Terra) a StablecoinAn algorithmic stablecoin sounds complicated, but that doesn't have to be.
That's how Terra envisioned its algorithmic stablecoin and why it inevitably crashed.
Here's how stablecoin Terra & Luna work:
1. In 2018, Terra network was created with two native tokens. Let's call them Terra (UST) and Luna (LUNA), of which the reasons will become apparent later on.
2. Terra is the stablecoin of the two and Luna has a variable price. These tokens are nothing more than numbers and a protocol on the blockchain.
3. For the ecosystem to work, we need to find people who want to buy these tokens, we do marketing.
4. Luna's price can vary, and is determined by the good old concept of supply and demand. Luna's price will be right in the middle.
5. If people find Luna fantastic, the demand for Luna goes up and so the price goes up, or at least not to zero.
6. Now here come's the tricky part: the blockchain promises that people can always exchange One Terra for $1 worth of Luna.
That means if Luna is trading at $0.5 you get 2 Luna for One Terra. When Luna is trading at $4 you get 0.25 Luna for One Terra.
If Luna trades at $10 you get 0.1 Luna and so on. The price of Luna can vary, but One Terra can always be exchanged for $1 worth of Luna.
The reverse is also true and possible, people can always exchange $1 worth of Luna for One Terra.
7. Now we make an automated smart contract to make this exchange possible. Et Voila, stablecoin Terra is created.
8. Terra should always be worth $1. So terra should always trade at $1. If Terra trades above $1, arbitrage traders will buy Luna and then sell Luna for Terra for instant profit.
If Terra trades below $1, arbitrage traders will buy discounted Terra and exchange it for Luna for instant profit. Arbitrage traders will push the price of Terra back to $1 if it deviates.
9. Luna's price can fluctuate but that doesn't matter. As long as Luna is not zero, you can exchange Terra for $1 worth of Luna and Luna for around $1 of Terra.
Now we need to make sure Luna doesn't go to zero, since that would turn out very bad. So we need to give fundamental value to Luna, these are the ways to do this:
- Collect transaction fees from people who exchange Luna for Terra & Terra for Luna and distribute (a part of) these fees to Luna holders as interest.
- Create an ecosystem of smart contracts and applications on top of Luna and terra in which Luna is treated as the native currency to use this ecosystem. And ascribe a lot of value to it.
This reinforces each other pretty well.
The more fees you collect and distribute to Luna holders, the more viable your ecosystem gets. The more applications are being being built, the more Luna is being bought to interact in the ecosytem & the more fees are collected.
But besides this, there's no algorithm explicitly saying that Luna always has a particular amount of value. The algorithm just lets people exchange Terra for Luna. Luna is only valuable if people think it’s valuable and believe in the long-term value of the system that you are building.
The danger arises when people suddenly turn their back on Luna and think "Wait, it's all useless and it isn't real." and all sell their Luna tokens for Terra, which should always be equivalent to $1.
If people sell their Luna, the price of Luna goes down.
If people sell their Terra, you might think "the price of Terra can't go down because of the algorithm!". So if Terra drops to $0.97, arbitrage traders would buy it and exchange it to $1 worth of Luna for instant profit.
Well. The problem is that when people lose trust in the whole system, they will dump both Luna and Terra. It looks like this:
- Someone sells their Terra, and Terra drops to $.97
- An arbitrage trader buys 10 discounted Terra and exchanges it for Luna. Luna trades at $40 so the trader gets 0.25 Luna. (because exchange of Luna is at $1 par.)
- Then the arbitrage trader sells their Luna, which drops the price of Luna to $20.
- A second person sells their Terra, and Terra drops to $0.97.
- An arbitrage traders buys 10 discounted Terra and exchanges it for Luna. Luna trades at $20 and the traders gets 0.5 Luna.
- Which the arbitrage traders sells again, making the price of Luna drop even further.
- Now Luna is worth $10, so 10 Terra gets you 1 Luna, which then gets sold, so Luna goes to $5, so 10 Terra gets you 2 Luna, etc.
There's no stopping this process, it's a death spiral going down fast. Eventually Luna trades at $.01 and 10 Terra gives you 1000 Luna. And when you try to sell your Luna, you can't, because there are no buyers left and there are no arbitrage traders left who buy discounted Terra to exchange for Luna.
The founders are actively searching for a solution, one is looking for capital of investors and the other is to mint way more Luna, so that One Terra can reliably be exchanged for $1 worth in Luna. Even if that means bazillions of Luna.
Thanks for taking the time to read this idea. Stay safe out there. Support by following and sharing!
LUNA/USD Daily Cautiously BearishLUNA/USD Daily cautiously bearish. The entire Terra ecosystem is suffering as LUNA is being minted and UST burnt at a faster rate to reestablish peg -- the timing of this is to be determined. Due to the risk of LUNA potentially falling to its ATL of $0.10, today's recommended ratio is: 5% LUNA, 95% cash. **However, because Price has fallen 99% without break in just 5 days, traders should be vigilant for a significant retracement bounce of some kind**. Price is currently trending down at ~$1 as it approaches a test of the ATL at $0.10; this is an unprecedent drop and has invalidated every single support on the way down. Volume is currently the highest it has ever been (justifiably) and is on track to favor sellers for seven consecutive sessions now. Parabolic SAR flips bullish at $75, this margin is bullish. RSI is currently slightly trending down and printing a new ATL at 14.44. Stochastic remains bearish and is flatlining as it coasts in the bearish autobahn zone at max bottom. MACD remains bearish and is currently trending down to print a new ATL at -16.40. ADX is currently trending up at 29 as Price has nearly retraced its entire Price history this week, this is bearish. If Price is able to find a bottom in today's session, the bounce will likely have it test $4.67 resistance and potentially $13.22 (with the potential to go even higher considering the severity of the downturn). However, if Price continues to fall here, it may fall to $0.10 to retest the ATL. Mental Stop Loss: (two consecutive closes above) $17.55.
❗Black Swan by stablecoins. Threat or opportunity for traders?Hi friends! If it heppen to one UST is it heppen to another stablecoins? Next trigger for BTC dump can be caused by stablecoins instability. In this idea i`ll show you some facts about it!
🦢Black Swan. The last Black Swan in all financial markets happened in 2020 because of Covid-19. The crypto market fell by 64%. After the bull market, the Fed Reserve started raising the interest rate, BTC fell by 56%.
What if all the stabelcoins are not secured by anything? If previously the fall of cryptocurrencies was caused by global cataclysms, now we can expect the first black swan only for the cryptocurrency market.
With a EXTREME fear in the market and panic sales of retail traders, BTC could fall to $22k or lower.
📊Stablecoins by Market Capitalization:
1. Tether (USDT) - $83B
2. USD Coin (USDC) - $48.5B
3. Binance USD (BUSD) - $17.1B
4. Dai (DAI) - $6.9B
5. TerraUSD (UST) - $6.9B
Total: $169.4B
❗It`s almost 10% of TOTAL Crypto market Capitalization (169.4/1400).
💱We all know what happened to Luna and UST stabelcoin. US Treasury Secretary Janet Yellen pushes for stablecoin regulation by end of year. Even if the LUNA and UST recover to their previous price, a lot of attention will be focused on other stablecoins as well. On the other hand, this is positive for the crypto market and market players, as crypto security will increase.
✅Friends, if you don`t know what to do when BTC fall by 60-75%, check this idea! I made an educational idea for you when BTC was $39k. It describes 3 ways how you can identify the bottom of the market for BTC and Altcoins!
Friends, where will Bitcoin bottom price? $20-22k or lower? Or BTC already find the dip and go to renew ATH? Share your ideas in comments!
Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
LUNA is Rekt - The How and Why Terra UST was the 3rd biggest stable coin and lost its $1 peg causing LUNA to spiral
Once UST lost its peg from $1 to for example $0.50, someone could buy 100 UST for $50
and redeem it for $100 of LUNA and then sell that to USDT — making money on the arbitrage.
This essentially is what triggered the Death Spiral for LUNA because the price of LUNA is
dropping with the peg, it became race to redeem for LUNA before the value drops below
the redemption price
The UST peg failed for two main reasons:
Curve pool imbalance (On Chain Selling)
$350m UST was swapped for USDT using the Curve protocol. This left a disproportionate amount
of UST versus other stablecoins in the pool for users to swap against, thus lowering the
value of UST "on-chain"
Curve is a crucial piece of the DeFi ecosystem, allowing users and dApps to swap stablecoins efficiently.
The massive selling of UST on Curve created an imbalance in reserves, leading to the value of UST falling below the peg on the protocol.
The remaining portion of UST withdrawn from Anchor protocol was sold on centralized exchanges
like Binance driving down the value on those markets as well (Off Chain)
LUNA/USD Weekly TA Cautiously BearishLUNA/USD Weekly cautiously bearish. Anchor liquidation event spurs UST peg disruption while recessionary fears hit all risk-on markets -- due to the sheer voracity of the downturn LUNA is now on Bottom Watch. Recommended ratio: 30% LUNA, 70% cash. Price is currently testing the uptrend line from May 2021 at $15.92 support for the first time since July 2021. Volume is now moderate after surging this week and is on track to favor sellers for a third consecutive week. Parabolic SAR flips bullish at the ATH $119.72, this margin is bullish. RSI is currently trending down at 36.46 after breaking down below 45.83 support, the next support is the ATL at 5.87. Stochastic remains bearish and is currently trending down at 10 after breaking down below 32.46 support; the next support is at max bottom. MACD remains bearish and is currently trending down at 3.14 as it tests 3.83 support with no signs of trough formation. ADX is slightly trending down at 34.55 as Price sees massive selling pressure, this is neutral at the moment. If Price is able to defend support at the uptrend line from May 2021 at $15.92 support then the next likely target is a retest of $27.70 resistance (assuming $19.32 resistance is overcome) and potentially higher (the move will likely be a relatively big one considering the significance of the fall and will likely hinge on an announcement of a solution from Do Kwon). However, if Price breaks down below this uptrend line, then the next likely target is a retest of the uptrend line from December 2020 at ~$7 for the first time since January 2021. Mental Stop Loss: (two consecutive closes above) $19.32.
**From 05/03/21 to 05/24/21, LUNA dropped 80.51% from ~$20 to ~$4 -- then from 05/24/21 to 04/04/22 LUNA surged 2747% from $4 to $120 -- from 04/04/22 to 05/09/22, LUNA dropped 84% from ~$120 to ~$14 -- then from 05/09/22, what will the story be? Nobody knows, but there's Extreme Fear in the markets... usually that's a good time to be buying.**
I HAVE NO WORDS FOR THIS!! $UST HORRIBLEDAMN...
This will be EPIC.
Terra, Luna, $UST... SO BAD.
Whats next? Let's see!
By the way, I sold all my $UST at PEG... I feel so lucky right now.
Only interested on buy $LUNA if it keeps dropping hard.
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. BTC is currently testing the uptrend line from April 2017 (and from March 2020 on the weekly) at $30k major support, if it can establish support here it would be net bullish for the rest of crypto. Recommended ratio: 15% LUNA, 85% cash. Price broke down below $34.86 support and is currently testing $23.59 support, which coincides with the descending trendline from December 2021 (last tested in January 2022). Volume is very high as sellers continue to pile on for a sixth consecutive session of dominance. Parabolic SAR flips bullish at $83.82, this margin is very bullish at the moment. RSI remains oversold and is slightly trending down at 17.48 as it approaches a test of the ATL at 15.39. Stochastic remains bearish and is currently on the verge of a bullish crossover at max bottom; however, it may coast down here for some time in the bearish "autobahn zone". MACD remains bearish and is currently forming a new ATL at -7.64 with no signs of trough formation. ADX is currently trending up at 26 as Price continues to fall, this is bearish. If Price is able to defend $23.59 support then the next likely target is a test of $34.86 support-turned-resistance. However, if Price breaks down below $23.59 support, the next likely target is a retest of the uptrend line from January 2021 (~$18) for the first time since May 2021. It should be noted that May 2021 saw a decline in LUNA of 77%, this May LUNA has seen a 64% decline so far. Mental Stop Loss: (two consecutive closes above) $34.86.
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. *BTC is currently on the verge of testing the uptrend line from April 2017 on the daily (and from March 2020 on the weekly) at $30k major support*. Recommended ratio: 25% LUNA, 75% cash. Price is currently testing $34.86 support after dropping through 4 different support levels, this violent of a drawdown usually is followed by a fairly robust bounce. Volume continues to be moderate and growing for the third consecutive session; it's currently on track to favor sellers for four consecutive sessions. Parabolic SAR flips bullish at $88.77, this margin is very bullish. RSI is currently trending down at 20 and is oversold for the first time since May 2021; it is also currently breaking down below the 26.17 support + the uptrend line from November 2019 (26). Stochastic remains bearish and is currently testing max bottom. MACD remains bearish and is currently breaking down below the ATL (-7.75), forming a new ATL at -8.21. ADX is trending up (vertically) at 20 as Price continues to fall, this is bearish. If Price is able to establish support and bounce here at $34.86, then it will likely retest $45.78 and potentially higher. However, if Price continues its free fall then it will likely test $23.59 support (which would coincide with the descending trendline from December 2021) and potentially lower to retest the uptrend line from January 2021 at ~$20. Mental Stop Loss: (two consecutive closes above) $45.78 support-turned-resistance.
LUNA BEST FAKEOUT I HAVE EVER SEEN PERSONALLYLUNA H & S target almost hit, also making a LL on the DTF.
I would expect a bounce from approximately $45-50.
If we lose this support then my Diamond Top pattern was successful and LUNA could collapse to $28, $20, $16. It could also be one of the best fake outs I have ever seen.
SOMETHING else that I spotted was BTC dumped in November, then LUNA went on a pump to make a HH.
LUNA VS BTC they are definitely correlated like BTC V DXY used to be.
I think LUNA will pump based on my charts when BTC finds a bottom or consolidation.
Very strange how it is suppose to be a stable coin for BITCOIN.
Will LUNA pump like it previously did? Time will tell.
NOT FINANCIAL ADVICE!
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Double Bottom invalidated, retest of 200 MA + uptrend line from July 2021 currently underway. Recommended ratio: 20% LUNA, 80% cash. Price is currently testing the 200 MA + $70.16 support + the uptrend line from July 2021 ($67) as support as the crypto market as a whole is seeing a weekend sell off. Volume remains very low and is on track to favor sellers for three consecutive sessions a slight uptick in activity seen in today's session. Parabolic SAR flips bullish at $93.95, this is mildly bullish. RSI is currently trending down at 33.25 after breaking below the descending trendline (support) from August 2021 at 38. Stochastic remains bearish and is currently breaking down below 21.78 support with no signs of trough formation. MACD officially broke below -2.43 after one week of testing it as support, it is currently trending down at -4 with no signs of trough formation. ADX is currently trending up at 16 as Price continues to fall, this is mildly bearish. If Price is able to defend support here at the uptrend line from July 2021 ($67), then it will likely test the 200 MA at $70.15 resistance before deciding its next move. However, if Price continues to fall below this uptrend line then it will likely retest the uptrend line from January 2021 at $60 as support. Mental Stop Loss: (two consecutive closes above) $71.52 (200 MA).
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Double Bottom on the verge of invalidation. Recommended ratio: 30% LUNA, 70% cash. Price is currently retesting $78.04 minor support as it fast approaches an invalidation of a potential Double Bottom formation. Volume remains very low and is on track to favor sellers for a second consecutive session if it is able to close today in the red. Parabolic SAR flips bullish at $94.37, this margin is neutral at the moment. RSI is currently trending down at 41.46 as it approaches a retest of the descending trendline from August 2021 as support at 38. Stochastic crossed over bearish in today's session and is currently trending down at 36.5 (just below 43.42 resistance), the next support is at 21.78. MACD remains bearish and is currently breaking down below -2.43 at -2.76; it is still technically testing -2.43 as minor support but if it loses it then the next support isn't until the ATL at -7.76. ADX is currently trending up slightly at 16 as Price is facing selling pressure, this is bearish. If Price is able to defend support at $78.04 minor support, then it will likely range between there and $84.05 resistance until it makes its next move. However, if Price breaks down below $78.04 minor support then it will likely retest the 200 MA at $70.15 support (which would coincide with the uptrend line from July 2021). Mental Stop Loss: (two consecutive closes above) $84.05 resistance.
LUNA/USD Daily TA Neutral BearishLUNA/USD Daily neutral with a bearish bias. Double Bottom watch. Recommended ratio: 40% LUNA, 60% cash. Price is currently trending down at $81.25 and still testing $84.05 resistance as support after closing above it in yesterday's session; if it can close above $84.05 in today's session it would become support and if it closes below it would stay resistance. Volume remains very low and fairly balanced between buyers and sellers, it's currently on track to favor sellers in today's session. Parabolic SAR flips bullish at $94.75, this margin is mildly bullish. RSI is currently trending down at 43.52; the next support is the descending trendline from August 2021 at 39 and the next resistance is at 51.40. Stochastic remains bullish and is on the verge of crossing over bearish at 37.53, just below 43.42 resistance. MACD remains bearish and is currently trending sideways at -2.54 testing -2.43 minor support. ADX is currently trending sideways at 15 as Price is testing $84.05 resistance as support. If Price is able to close above $84.05 resistance in today's session it would turn to support, then a retest of $92.78 becomes the next likely scenario. However, if Price closes below $84.05 resistance then it will likely retest $78.04 minor support. Mental Stop Loss: (one more close above) $84.05 resistance.
LUNA/USD Daily Neutral BearishLUNA/USD Daily neutral with a bearish bias. Equity and crypto markets rallying on FOMC announcement of 50 bps funds rate hike and June 1st start of balance sheet reduction. Double Bottom watch. Recommended ratio: 45% LUNA, 55% cash. Price is currently breaking out above $84.05 resistance at $87 and will look to close above it in today and tomorrow's session to establish a short term Double Bottom. Volume remains very low and favored sellers in yesterday's session (leading up to the FOMC announcement) but is now favoring buyers after the announcement. Parabolic SAR flips bullish at $95.66. RSI is currently trending up at 49.62 as it fast approaches a retest of 51.40 resistance. Stochastic remains bullish and is currently testing 43.42 resistance. MACD remains bearish and is forming a trough at -2.43 as it attempts to form a bullish crossover (at -1.97). ADX is currently trending down at 14.7 as Price is surging upward, this is mildly bearish at the moment but can change to bullish if it can bounce soon. If Price is able to turn $84.05 resistance to support, then the next likely target is a retest of $92.78 minor resistance. However, if Price falls back below $84.05, then it will likely retest $78.04 minor support before potentially heading lower. Mental Stop Loss: (two consecutive closes above) $84.05.
LUNA/USD Weekly TA Neutral BearishLUNA/USD Weekly neutral with a bearish bias. Recommended ratio: 40% LUNA, 60% cash. Price is currently testing the uptrend line from August 2021 (this time at $82.50) for the fourth consecutive week. Volume remains very low and is fairly balanced between buyers and sellers, indicating that this is a consolidation before a pending breakout or breakdown. Parabolic SAR flips bearish just below $57.15 minor support. RSI is currently trending sideways at 54.63 just below the uptrend line from September 2020 (enough for it to still be testing it as support). Stochastic is currently on the verge of a bullish crossover at 32.46 support; if it can do this it will have another opportunity to test the descending trendline from September 2021 at ~50. MACD remains bearish and is currently trending down at 10.55, the next support (minor) is at 6.89. ADX is trending up slightly at 40 as Price tests a critical support on an uptrend, this is mildly bullish at the moment. If Price is able to defend support at the uptrend line from August 2021 ($82.50), then the next likely target is a retest of $87.51 minor resistance before potentially retesting $100. However, if Price breaks down here, it will likely retest $75.86 minor support before potentially retesting the lower trendline of the ascending channel from July 2021 at $65-$70. Mental Stop Loss: (two consecutive closes above) $87.51.
LUNA/USD Daily TA Neutral BearishLUNA/USD Daily neutral with a bearish bias. Recommended ratio: 30% LUNA, 70% cash. Double Bottom watch. Price is currently facing rejection at $84.05 resistance after failing to close above it in yesterday's session. Volume remains low and is on track to spoil a three-consecutive-day streak of buyer dominance if it closes today's session in the red. Parabolic SAR flips bullish at $96.66, this is neutral at the moment. RSI is currently trending down at 42.34, the next support is a retest of the descending trendline form August 2021 at ~38. Stochastic is currently crossing over bullish at 30.65, just above 21.78 support. MACD remains bearish and is currently breaking down below -2.43 minor support at -2.70 with no signs of trough formation. ADX is trending down slightly at 15.86 as Price has encountered a critical resistance, this is neutral at the moment. If Price is able to breakout and close above $84.05 resistance two consecutive sessions, then the next likely target is a retest of $92.78 minor resistance. However, if Price is rejected here, then it will likely retest $78.04 and may potentially go lower depending on overall market conditions. Mental Stop Loss: (two consecutive closes above) $84.05.
LUNA/USD Daily TA Neutral BearishLUNA/USD Daily neutral with a bearish bias. Recommended ratio: 40% LUNA, 60% cash. Double Bottom watch. Price is currently breaking out above $84.05 resistance as it aims to close above it in today's session. Volume remains very low and is on track to favor buyers for two consecutive sessions now, which strengthens the case for a Double Bottom recovery. Parabolic SAR flips bullish at $97.54, this margin is still mildly bullish. RSI is trending up at 45.30 after bouncing sharply off of the descending trendline from August 2021 at ~40; the next resistance is at 51.40. Stochastic remains bearish and is currently forming a trough at 27.51, a bullish crossover here would prevent it from testing 21.78 support. MACD remains bearish and is currently forming a trough at -2.43 minor support. ADX is trending up slightly at 15.86 as Price is attempting to play out a Double Bottom formation, this is neutral at the moment. If Price is able to close above $84.05 resistance in today's session and then again in tomorrow's session, the next likely target is a retest of $92.78 minor resistance (which should coincide with the 50 MA). However, if Price is rejected by $84.05 resistance, then it will likely retest $78.04 and potentially fall lower. Mental Stop Loss: (two consecutive closes above) $84.05.
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Recommended ratio: 20% LUNA, 80% cash. **Sunday bull-trap watch (bearish) / Double Bottom watch (bullish) **. Price is currently testing $78.04 minor support and could potentially be forming a short term Double Bottom if it can follow through with today's bounce. Volume remains very low and is on track to break the two day streak of seller dominance if it can close today in the green. Parabolic SAR flips bullish at $98.40, the margin of this gap is mildly bullish at the moment. RSI is currently trending up at 42.88 after bouncing off of the descending trendline from August 2021 at ~40; if it can establish support here, the next resistance would be at 51.40. Stochastic remains bearish and is currently trending down at 26.70 as it fast approaches 21.78 support. MACD remains bearish and is currently beginning to form a trough at -2.43 minor support; if it can hold support here, this would be mildly bullish. ADX is trending up at 17 as Price is testing $78.04 minor support, this is mildly bearish. If Price is able to defend support (minor) at $78.04, then a short term Double Bottom will probably be in play and Price will likely test $84.05 resistance. However, if it continues to fall here, a classic Sunday bull-trap would probably be confirmed and it will likely test the 200 MA at $70.15 support. Mental Stop Loss: (two consecutive closes above) $84.05.
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Recommended ratio: 15% LUNA, 85% cash. Price is currently breaking down below $84.05 support (at $79.75) and is approaching a retest of $78.04 minor support. Volume remains very low and is on track to favor sellers for a second consecutive session if it closes today in the red. Parabolic SAR flips bullish at $99.32. RSI is currently trending down and testing the descending trendline from August 2021 at ~40, this is a critical support test. Stochastic remains bearish and is currently testing 43.42 support. MACD remains bearish and is currently trending down at -1.97 as it fast approaches a retest of -2.43 minor support. ADX is in fact forming a trough and is currently trending up at 16 as Price continues to fall, this is bearish. If Price is able to establish support at $78.04 minor support, then it will likely test $84.05 as resistance. However, if Price breaks down below $78.04 minor support (which is very plausible at the moment), then it will likely retest $70.15 support (which would coincide with the uptrend line from July 2021). Mental Stop Loss: (two consecutive closes above) $84.05.
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Recommended ratio: 25% LUNA, 75% cash. Price is currently testing $84.05 support. Volume ended up closing yesterday's session out in the green and remains very low as it looks on track to end the two day streak of buyer dominance with a close in the red. Parabolic SAR flipped bearish at $84.05 support and now must reach $99.60 to flip back to bullish. RSI is currently trending down at 44.91 and the next support is at the descending trendline from August 2021 at around 40. Stochastic remains bearish and is trending down at 57.32 and the next support is at 43.42. MACD crossed over bearish in today's session and is currently trending down at -1.42, the next support is at -2.43. ADX is currently beginning to show signs of trough formation at 15.86 but is still trending down as Price depreciates, this is mildly bearish at the moment. If Price is able to defend support at $84.05, then it will likely consolidate between that level and $92.78 minor resistance. However, if Price breaks down below $84.05 support, then it will likely retest $78.04 minor support before potentially heading lower. Mental Stop Loss: (two consecutive closes above) $92.78.
