Well...that was fun albeit unexpected. A few people had a hunch that it would rise but not this much. I hope everyone took their short term profits.
My first analysis was in the "previous buy spot" in a very heavy range zone. This rise in momentum is not only good for LUNC community, but also for crypto in general. It might put a bit more faith the Terra community. However, many people are under the fair assumption that this is a rug pull. If you look at the past few days we can see that LUNC and USDT are almost completely inverse with the rest of the crypto market; Terra goes up, everything else goes down. Whether there is something noteworthy there, I'm not sure.
My initial buy spot was in the 0.00021 (thereabouts) region before we had a massive rally by over 140%. Of course, let's be realistic, I definitely did not take profits at the very top. I took partial profits at the second "TP" (circled). And I am still in LUNC. But for now, what should we be looking for.
LUNC is undergoing a massive retracement which is not only obvious but also predictable. The bulls are taking their profits and leaving it the hands of bears to consolidate the price to a slight downtrend. In this time there are several buying areas that everyone is looking at: The first or second areas of support, a retracement to the previous Range Zone, or a touch of the 200 SMA. Because of all of these factors I think this is a no go zone. Stay well away for the time being and wait for price to turn.
There is always an opportunity.
My first analysis was in the "previous buy spot" in a very heavy range zone. This rise in momentum is not only good for LUNC community, but also for crypto in general. It might put a bit more faith the Terra community. However, many people are under the fair assumption that this is a rug pull. If you look at the past few days we can see that LUNC and USDT are almost completely inverse with the rest of the crypto market; Terra goes up, everything else goes down. Whether there is something noteworthy there, I'm not sure.
My initial buy spot was in the 0.00021 (thereabouts) region before we had a massive rally by over 140%. Of course, let's be realistic, I definitely did not take profits at the very top. I took partial profits at the second "TP" (circled). And I am still in LUNC. But for now, what should we be looking for.
LUNC is undergoing a massive retracement which is not only obvious but also predictable. The bulls are taking their profits and leaving it the hands of bears to consolidate the price to a slight downtrend. In this time there are several buying areas that everyone is looking at: The first or second areas of support, a retracement to the previous Range Zone, or a touch of the 200 SMA. Because of all of these factors I think this is a no go zone. Stay well away for the time being and wait for price to turn.
There is always an opportunity.
Nota
LUNC has done a significant bounce off the 0.0003 price. Could be a good time to buy and hold.Nota
All assets took a big dive due to the CPI data that came out. But I am still bullish on the asset.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.