- the collapse of Luna token and TerraUSD (UST), which destroyed nearly $45 billion in market capitalization in less than a week, the Terra blockchain was momentarily shut down in May 2022.
- At a hearing on Thursday, a US judge examined whether Terraform Labs’ digital assets qualified as securities.
Terra is an algorithmic stablecoin payment platform and blockchain protocol. Terraform Labs, a startup that Do Kwon and Daniel Shin co-founded, developed the project in 2018. Terra stablecoin and related cryptocurrency Luna reserve assets are its most well-known products.
This is a crucial issue in the US Securities and Exchange Commission’s fraud case against the company and its founder, Do Kwon.
Market Information About Luna Token
LUNA’s market cap increased by 4.98% at the press time. The volume of TERRA Token increased by 14.89% in the last 24 hours. The ratio of tokens is unequal. The $36.575 million value of the LUNA Token was traded on the last day. TERRA Token is now ranked 122nd among 8,813 active cryptocurrencies in the world by market capitalization. The liquidity of the cryptocurrency LUNA is 14.32%.
The market supply of LUNA is currently 565.63 million. The total supply of LUNA Tokens is $1.04 billion in the market.
Daily Technical Indicators for the LUNA Token
The 100-day Simple Moving Average in LUNA shows buying activity at the $0.45696233 price level. According to its 100-day Exponential Moving Average, Terra Token should be sold at $0.49772677.
The 200-day SMA offers to sell LUNA at the $0.64820416 market price. At $1.01226750, the 200-day EMA suggests a buying trend. At 58.43390783, the RSI (14) line indicates neutrality.
Technical Analysis of LUNA
LUNA Token is down by 0.58% in the current session, although this is erratic because the LUNA Token is traded daily. The LUNA has decreased by 93% overall.
On 04 April 2022, LUNA Token marked the ATH which was $119.21720000. Since it is not close to any level of resistance, the chances of a breakout are reduced.
The LUNA Token recorded 13 out of 30 green days over the previous 30 days.
With a percentage of about 43%. The LUNA Token’s price fluctuation over the previous 30 days was 5.60%. In the last 7 days, the LUNA Token was up by 1.65%.
Based on the LUNA Token’s performance, the Token has been in a downward trend since 2023.
In the last month, the LUNA Token fell by 0.98%, and in the previous six months, it fell by 61%. The bulls are trying to pull the price of the LUNA coin in the upward direction. In recent trading days, the green candles are more than the red candles.
Conclusion
According to the prognosis made by experts, LUNA might reach $0.432939 by 07 November 2023. This would be equivalent to a fall in value of 7.32%, which is not good for any coin.
Technical Levels
Support level- $0.36445171 and $0.27378899
Resistance level- $0.53451521 and $0.61391599
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
