Terra (LUNA) Price Analysis! Will LUNA Continue to Rise?
What should LUNA investors expect next? What are the short-term price expectations? Does it make sense to buy LUNA and LUNC?
Once a $40 billion ecosystem, today Terra is a ghost town. One thing leads to another. Cryptocurrency investors have recently shown great interest in LUNA due to its speculative price movement. So where will the LUNA price go in the coming period? What is the next target for this altcoin that Turkish investors show great interest in?
Terra (LUNA) Price Analysis
When you see Terra (LUNA) being talked about more on social media, the price is probably going up. In the last 40 days, the Terra team and community have made a serious effort to help you revive the network. This process has caused the price of LUNA to increase by over 250%. However, the speculative rally seems to be over now that LUNA has broken below the 20/50/200 EMA on the four-hour chart. The break below $2.4 reaffirmed the selling bias for LUNA. The price is likely to retrace down to $2.11 from this area.
The DMI lines showed a strong bearish crossover. ADX is pointing to significant weakness for LUNA. The RSI is in the bearish zone. Given the descending triangle pattern next to the death cross on the EMAs, LUNA's chances of recovery are slim. However, for an altcoin that shows speculative price movements, it is debatable how much expectations will come true. In the short term, closes above the 20/50 EMA will signal the start of speculative bullishness again.
Should I Buy LUNA and LUNC?
The majority of cryptocurrency investors make investment decisions based on emotions. The interest in speculatively rising altcoins is an example of FOMO. And many investors turn to these cryptocurrencies on a gambling impulse. We have experienced periods of rapid losses at the end of their baseless rises. We may (re)see days of huge losses for LUNA and LUNC in the future.
Do Kwon is a fugitive and a red notice is issued. His tales of cooperation have been refuted by South Korean prosecutors. There are no significant applications in the Terra 2.0 ecosystem to increase network activity, and it is hard to see the new Terra network producing any benefits.
On the LUNC side, on the other hand, a group of community members rebelling against Terraform Labs are trying to revive the ghost network. LUNC is more likely to succeed if it continues its path as a meme token. Because there is no solution that can reduce its 7 trillion supply, including token burning with a 1.2% tax. No investor wants to burn billions of LUNC tokens. So how can a trillion supply be expected to fall?
As a result, LUNA and LUNC are extremely risky assets and investors should be aware of this.
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