LUNA/BUSD Daily cautiously bearish. *Congressional Research Service posted a short report on the LUNA:UST peg collapse and covers mostly everything aside from the bad actors who exploited this vulnerability. They also make mention of rumors that LFG didn't sell their reserves to protect the peg, which one can see on LFG's reserves dashboard are false.* Recommended ratio: 6% LUNA, 94% cash. Price remains trending sideways under $0.00020 as the Terra governance community will decide on whether or not to fork tomorrow. Volume has waned but remains very high and is on track to favor sellers for three consecutive sessions if it can close today in the red. Parabolic SAR flips bullish at $24.30, this margin is bullish. RSI remains flatlining at the ATL of 14.25 for a sixth consecutive session. Stochastic also remains flatlining at max bottom for a sixth consecutive session. MACD remains bearish and is still trending sideways at the ATL (-24.65) established in yesterday's session, if it can get above -20 it would be a bullish crossover. ADX continues to trend up at 47 as Price continues to see choppy trading at fractions of a cent, this is bearish. If Price is able to get back above $0.01 then the next likely target is a test of $0.27. However, the alternative would be continued chop at fractions of a cent; which is a modest sign of consolidation. Mental Stop Loss: (two consecutive closes above) $0.01.
**Anybody trading LUNA should be prepared for more volatility leading up to tomorrow's vote.**
***Anybody investing in LUNA should have a time horizon of 1 year or more and will need to wait for tomorrow's vote for more clarity regarding Luna's future.***
**Anybody trading LUNA should be prepared for more volatility leading up to tomorrow's vote.**
***Anybody investing in LUNA should have a time horizon of 1 year or more and will need to wait for tomorrow's vote for more clarity regarding Luna's future.***