![Terra [LUNA]: Gauging the effects of a |200% two-day surge](https://i.headtopics.com/images/2022/9/11/cryptoamb/terra-luna-gauging-the-effects-of-a-200-two-day-su-terra-luna-gauging-the-effects-of-a-200-two-day-su-1568933667434627079.webp)
Terra [LUNA]: Gauging the effects of a 200% two-day surge
The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.UST stablecoin and LUNA fueled the market-wide crumble in May, a plunge that the investors are still recovering from. However,
The native token of Terra’s blockchain registered an over 200% ROI over the last two days. Even so, the coin was still down by 67.5% from its ATH, at the time of writing. After testing this hurdle twice, the third test resulted in a breakout rally that put LUNA in price discovery. The altcoin witnessed a solid bullish engulfing candlestick on 9 September, one that aided the bulls in fixating a spot beyond the north-looking 20/50/200 EMA.
On the contrary, an immediate close below the pattern would hint at a near-term decline towards the $4.8-zone before a plausible revival.The heightened bullish pressure has kept the Relative Strength Index in an overbought position. A gradual reversal from its record highs seemed likely in the coming sessions. Traders should wait for a decline below the 70-level support to confirm this bias.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LUNA surges 3x, market cap jumps 200%; is this another Terra pump-and-dump?How to get-over your shady past? Well, incorporate a model (2.0 version/iteration) by learning from past mistakes. That exactly what Terra’s Phoenix blockchain token LUNA did as it recorded a |200% hike. But at what cost? Building from scratch LUNA – the cryptocurrency behind the Terra ecosystem witnessed some unprecedented hikes as we speak. At press […]
Read more »
Reggie Begelton returns to form in Stamps win over ElksAfter scoring two touchdowns in Monday’s Labour Day Classic, he had his first 100\u002Dyard game of the season \u002D\u002D he finished with 112 yards.
Read more »
Visitors bearing tributes gather in London to pay respects to Queen Elizabeth II – Terrace StandardTributes in the form of flowers, notes and stuffed animals are growing outside London’s Buckingham Palace as mourning for Queen Elizabeth II enters its second day.
Read more »
Flood Falls Trail wildfire near Hope grows to 65 hectares – Terrace StandardEvacuation alert sent last night via Alertable app still in effect as of this morning
Read more »
Man arrested after Edmonton stabbings charged with second-degree murderMan charged with second-degree murder after stabbing spree left one dead, two injured in Edmonton
Read more »