LUNAUSDT

٢٨ مارس ٢٠٢٢

Fundamental Analysis:

Terra is a decentralized stablecoin platform. Demand for UST decentralized stablecoins is expected to grow due to global market instability, as well as attractive 20% staking. Since LUNA tokens are burned with every UST minted, the price of LUNA tokens is proportional to UST demand.


Technical Analysis:

- Symmetrical Triangle accumulation in an uptrend with decreasing trade volume and 93.4 Resistance (currently above)
- Recent ATH of March 9th, taking over the previous high of December 27th, allows for projection of global Uptrend, whereas current price is in the beginning of Wave 3, followed by classic ABC correction of wave 2 since December 27th.
- RSI bullish divergence on daily chart

Trigger:

- Daily close above 93.4 Resistance


Stop Loss:

- Daily close below 89 local Support

In the event of Stop-loss hit, 2nd subwave correction (0.5-0.618 Fibo retracement of subwave 1) is expected.

Tagets:

- 116.6 (Triangle projection)
- 153.4 (Fib Trend Based Extension - 1.618 level off the Feb 20th impulse)
- 201.5 (Fib Trend Based Extension - 2.618 level off the Feb 20th impulse)
- 249.5 (Fib Trend Based Extension - 3.618 level off the Feb 20th impulse)