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LUNA/USD Daily Cautiously Bearish

LUNA/USD Daily Cautiously Bearish

LUNA/USD Daily Cautiously Bearish

LUNA/USD Daily Cautiously Bearish

Luna / US Dollar (calculated by TradingView) BINANCE:LUNAUSD
dailytaguy


LUNA/USD Daily Cautiously Bearish

LUNA/USD Daily cautiously bearish . The entire Terra ecosystem is suffering as LUNA is being minted and UST burnt at a faster rate to reestablish peg — the timing of this is to be determined. Due to the risk of LUNA potentially falling to its ATL of $0.10, today’s recommended ratio is: 5% LUNA, 95% cash. **However, because Price has fallen 99% without break in just 5 days, traders should be vigilant for a significant retracement bounce of some kind**. Price is currently trending down at ~$1 as it approaches a test of the ATL at $0.10; this is an unprecedent drop and has invalidated every single support on the way down. Volume is currently the highest it has ever been (justifiably) and is on track to favor sellers for seven consecutive sessions now. Parabolic SAR flips bullish at $75, this margin is bullish . RSI is currently slightly trending down and printing a new ATL at 14.44. Stochastic remains bearish and is flatlining as it coasts in the bearish autobahn zone at max bottom. MACD remains bearish and is currently trending down to print a new ATL at -16. 40 . ADX is currently trending up at 29 as Price has nearly retraced its entire Price history this week, this is bearish . If Price is able to find a bottom in today’s session, the bounce will likely have it test $4.67 resistance and potentially $13.22 (with the potential to go even higher considering the severity of the downturn). However, if Price continues to fall here, it may fall to $0.10 to retest the ATL . Mental Stop Loss: (two consecutive closes above) $17.55.

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