Shop Sephari

Tony M. Tony M.
FXStreet

Terra's LUNA price appears to be at the beginning of a developing impulse Elliott wave headed south. Key levels have been defined.
Terra's LUNA price could continue declining as market conditions signal bearish control. On October 17, the bulls lost support from the $2.65 level, which has kept prices afloat throughout the month. The move south was catalyzed by rejecting the 8-day exponential moving average. The decline also breached the 21-day simple moving average with little hesitation.
LUNA price currently trades at $2.53. During the New York trading session, the bears established consecutive bearish engulfing candles. The Relative Strength Index compounds the idea of a stronger decline in the works as the bears have breached through oversold levels. 
tm/luna/10/18/22
LUNA/USDT 3-Hour Chart
If market conditions are genuinely bearish, the LUNA price will not be able to reconquer the 8-day EMA as support near the $2.66 level. A continuation of the downtrend could be catalyzed by a second attempt at the recently established low at $2.50. Bearish targets lie near the $2.00 liquidity level. 
Invalidation of the bearish trend remains at $2.67. If the bulls do conquer the barrier, they could trigger a bull run toward $5.00, resulting in a 100% increase from the current LUNA price. 
In the following video, our analysts deep dive into the price action of LUNA, analyzing key levels of interest in the market. -FXStreet Team
 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Bitcoin price has faced the brunt of many industry leaders or significant platforms going bust in the last year. From Terra’s implosion to FTX’s bankruptcy, the industry seems shaken from a psychological perspective. 
FTX exchange's standing continues to worsen as the bankrupt firm faces more scrutiny from regulators. The repercussions of the exchange's collapse have led to severe disruptions in the crypto market.
Ethereum price is in a consolidative phase as it hovers below a crucial resistance level. While a quick move to the upside to collect liquidity is likely, traders should not confuse this for a bullish directional bias.
Lido DAO price appears to be moving north while the rest of the market succumbs to Bitcoin’s lacklustre recovery. As the market may be setting up for another downswing, a risky countertrend opportunity is displayed within the LDO technicals.
BTC has faced the brunt of many industry leaders or significant platforms going bust this year. From Terra’s implosion to FTX’s bankruptcy, the industry seems shaken from a psychological perspective. As investors, an unbiased look reveals that the macro bottom is just one 20% crash away. This forecast takes a fresh look at significant levels and anticipates other scenarios that may evolve for Bitcoin price.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source

Shop Sephari

Leave a Reply