Hello Traders...
I'm gonna keep this short and sweet. I am no longer a fan of LUNA, if you saw my last BTC post you'll know that I lost nearly 30% of my portfolio overnight.
Either way I will try to remain objective on this analysis. However truth is in this type of situation, there's really no way of knowing what the heck price will do...
But there are really 2 possible scenarios at the moment.
1) Bearish (Highest Probability) LUNA tags the next major support level at $6 before finally reversing.
2) Bullish (Lower Probability) LUNA reverses from here and fist target resistance at $23, then up to $37.
Heck for all we know LUNA could just keep going down and could hit $1, theres really no way of knowing at this point.
- But taking TA into consideration and most importantly momentum, I think it's possible LUNA hits $6 before reversing. Keep in mind LUNA has lost all trust with the majority of it's customers, me included and also large investment firms.
- Personally I've never seen something like this before with such a large marketcap crypto so it's very hard to predict what could happen. This event could possibly even kill the project altogether if Do Kwon doesn't come up with a solution quick.
**Now I want to say, when LUNA finally bottoms I wouldn't be surprised if it got a massive pump. The problem is that we have no clue what the bottom is. People might think "well if it's $6 the risk is low, I mean how much lower could it go?!"
- To that I say if you bought at $6 and it goes to $3, you just lost 50%. So you can just as easily lose money buying in at $6 as people who bought in a couple days ago at $60.
That's it for this analysis, best of luck to anyone who lost money in LUNA. I know lots of peoples savings were drained so hang in there.
I'm gonna keep this short and sweet. I am no longer a fan of LUNA, if you saw my last BTC post you'll know that I lost nearly 30% of my portfolio overnight.
Either way I will try to remain objective on this analysis. However truth is in this type of situation, there's really no way of knowing what the heck price will do...
But there are really 2 possible scenarios at the moment.
1) Bearish (Highest Probability) LUNA tags the next major support level at $6 before finally reversing.
2) Bullish (Lower Probability) LUNA reverses from here and fist target resistance at $23, then up to $37.
Heck for all we know LUNA could just keep going down and could hit $1, theres really no way of knowing at this point.
- But taking TA into consideration and most importantly momentum, I think it's possible LUNA hits $6 before reversing. Keep in mind LUNA has lost all trust with the majority of it's customers, me included and also large investment firms.
- Personally I've never seen something like this before with such a large marketcap crypto so it's very hard to predict what could happen. This event could possibly even kill the project altogether if Do Kwon doesn't come up with a solution quick.
**Now I want to say, when LUNA finally bottoms I wouldn't be surprised if it got a massive pump. The problem is that we have no clue what the bottom is. People might think "well if it's $6 the risk is low, I mean how much lower could it go?!"
- To that I say if you bought at $6 and it goes to $3, you just lost 50%. So you can just as easily lose money buying in at $6 as people who bought in a couple days ago at $60.
That's it for this analysis, best of luck to anyone who lost money in LUNA. I know lots of peoples savings were drained so hang in there.