Breakdown: 1. Note 2. Contents 3. Research breakdown 4. LUNC Burn 5. Information on Lupa.
A note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged Short due to the overall monthly supply in control, until the opportunity of a rejection of the PCP has occurred or a long opportunity from a break and retest of the trend. Overall, where an imbalance is formed and sellers have completed the changing of hands due to purchasing further increments the exhaustive sellers. Until this criteria is met - shorts are held.
Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities. However, note, at current we are awaiting confirmation of a Bullish move. The Technicals at play during the current time will be extremely dynamic - however the pathway has established a strong demand. Now the slow process is gearing up.
Master Key for zones Red = Three Month Blue = Monthly Purple = weekly Orange = Daily White = Structural move down
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Daily chart
Price has been squeezed once the floor and has also provided analyzing structure where a Symmetrical pattern had created the strong upside which was presenting itself.
The latest - price has created a Pivot demand for a single candle creation - at 0.00017XX lows. The previous supply had also established a pivot single candle rejection from the 0.007X and rejected.
Potential channel breakout Structure left - does not provide much help in this instance where the Floor Cap has been created. However key takeaways on the
Four day Demand
Price has established a nice pivoted demand which on the 2-4 day chart has indicated a PCP zone which is now a FL zone (subject to price action and confirmation rules). The pink line represents the imbalance where price has successfully closed out with the high at 0.00017XXX
The Four day chart eradicates the noise - all be it at current the price action is still currently forming so this technical analysis is still early, however a strong floor has been created and price action. The technical patterns thus far have created a 'Strong engulfing candle' which allows the impulsive pattern and a great slow tail off in a corrective pattern forming, allowing the low to form which aligns with structure (looking left). Key lows - have formed at the weekly zone.
Weekly Weekly candle of pure drama where the collapse occurred with failure to peg the stabilize UST and Luna with collateral as BTC holdings. The minting and burning of converting Terra to Luna also contributed to the price collapse with a death spiral with the ever increasing supply being created. The balancing mechanism provided a clear imbalance which needed addressing but failed to be maintained. This has lead to the new Luna Classic token to be established with holders converting previous Luna Tokens being converted into Luna Classic or LUNC.
Token Burn tax of 1.2% "Terra community has passed Proposals 3568 and 4159, which will introduce a 1.2% tax burn for on-chain transactions of LUNC and USTC on Terra Classic network." - creating this burn taxation upon deposits, withdrawals will allow the overall supply of tokens circulated to create a scarcity as now a finite ever reducing supply is in effect. The demand creation from said shrinking supply availability like BTC possesses will in turn create a bullish demand for holders and in the long term price action will be reflected to price points (all be it, target prices will vary) due to a multitude of variables such as, inflows, volume traded, staking of coin supply to remove from circulation, time, holders to maintain longevity, supply reduction and transparency). https://www.binance.com/en/support/announcement/1fa5164b86614109a30ab26f1ff9b709
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There is no road to recovery just exchange manipulation to make you think it is with posts like this...its finished its pump for now.
LupaCapital
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@simpsonepic1a, it depends what you are classifying as a no road.. the technical pathway can be obtained here to reach where target is set. I'm fully aware how the cycle works here, and thank you for your comment. There are still highly probable moves here to be made.
KaiGann
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Are you seriously assuming LUNC has anything left? Even if so, fundamentals are crazy. Do Kwon out here trying to cash out millions during the arrest. LUNC is the new Ripple. Maybe not dead but dead for now and long near future. Unless it can retain anything close to the 33B M.Cap it had before, close shop. Or don't if ur married to LUNC
LupaCapital
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@xKmri I just look and see what the technical landscape shows. I am not say it will be get to $1, have not said this. There is a trading range high established and a base formed. This is all. Nothing on the creator, nothing on pulling assets. Just showing where the imbalances lie between.