I am watching LUNA closely and depicted above are some of my key points..👆📌📈
We recently broke up and out of a descending channel, but I am not convinced just yet, let's see if we bounce down from this possible resistance at the top of our triangle/wedge shape..!🆗↘↗🧐🔺
Just a few days ago there was news that the (80 percent drop in price recently) drop👀🐻 in LUNA token🌚 caused major issues with the price of Terra blockchains PIGCOIN🐷💲 pair (UST,) was down upwards of 11 cents at one point. 😨
PIGCOINS🐷💲, or (stablecoins,) are supposed to stay at a fixed price and not deviate in either direction (think US dollar)
TERRA, having a large amount of reserves in their token LUNA, then had to buy up aggressively their LUNA token to fix the drop in UST.
This does not go unnoticed and is something to consider before investing in this token short-term.
Long term, LUNA is expected to make a recovery but it is always wise to use caution!
Thank you so much for considering this chart/analysis of LUNA-USD, I always love your feedback!!!🐶🎉
🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss ✋🛑💲 set🆗
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.
Jazerbay
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Just looking at this possible Head and Shoulder scenario🐻 (on 4 hour view.) Thank you for understanding, I think that ~3.7 is good point to re-analyze👀📉