🌒Hi friends! There is a lot of news coming right now about Luna and the UST (stablecoin 1 UST=1 USD), which momentarily lost its peg to the dollar and lost 39% of its capitalization. The total capitalization of $18.2 billion became $11.1 billion. Now UST after a panic sell-off is returning to a 0,9:1 peg, but is a drop possible in the future? What was the cause and what are the possible scenarios for Luna and UST?
🌓The UST stack itself is an algostable and has a $1 price peg mechanism due to the LUNA selling mechanism. There was panic in the market, and as a consequence of the panicked outflow of funds from LUNA, the algorithm was disrupted as the outflow exceeded the inflow of LUNA providing the peg.
🌖Technical Analysis (TA).✅Global Scenario. I have noted important support zones that can be identified with horizonal volumes: 1. $14,56-18,2 2. $5,20-7,45 🔥These are global support zones where there is enough liquidity for a big player to open long positions. 🔥The fuel for this drop was the traders who accumulated the moon in the area I noted on the chart. Panic selling knocked the altcoin down by 80% from it`s ATH. Short traders could be the fuel for growth. That is how it works.
âś…Local Scenario.The local scenario with trendline breakout. The trendline breakout strategy helps me to identify best entry point, so friends if you want to know how to use it, leave a coment and i`ll try to make an educational idea with simple explanation for you.
🌕Therefore, it is too early to predict a crash of this altcoin, although you can see how many holders got scared and started to sell off the crypto.
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P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
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Friends, check my update about the LUNA current situation. Is it really time to be scared or time to open a TRADE?
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Hi friends! I made the idea about the next Black Swan that may heppen soon. If it heppen to one UST is it heppen to another stablecoins? Maybe all stablecoins are in danger? I hope it will be very useful in current market conditions.
The simple explanation is that humanity built a system to exploit itself, How any us humans have any chance against the millions of bots that are betting against us in every waking moment? We don't. House never looses and unfortunately we are not the house. Stock market and crypto is quite a nice scam we made to trick ourselves. We all think we are so smart, but the bots are smarter and they just do the opposite of what we do and win every fricking time.
Breezyfree
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I think the core problem here is LUNA’s primary function is to provide a stable coin. And the core functionality just failed horribly. That will erode a lot of trust in partners that use UST, and they will likely move to other protocols that are more robust (higher trust) Ko machine this will have affected a lot of projects and protocols that depended on UST to be stable at all times.
OTWhale
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your analyis is spot on Yuriy, many thanks, I placed some LONG positions at $15, then it went down from 30ish to $13.57 If it drops below $10 then im buying again, double
Shaptarshi
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i have made an short term idea following your this analysis and omg 80% profit with 4x leverage thanks dear
FFG2501
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“Momentarily lost its peg” its been nearly 24 hrs . It still has not regained its peg. Yet some punters post moon shot calls.
DeGRAM
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Good job, mate. Thank you!
AlkalineFX
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Seems likely!
thunderpips
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Interesting. Let's see how this week behaves. Thanks mate.
FFG2501
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I just want to leave this comment here. It may be useful. I know little to nothing about charting. But a little more about fundamental analysis. 1. Please dont just blindly follow charts 2. Understand macro economic trends and its impact on markets especially crypto. 3. Prices go up and down. As a newbie last year i left 100k profit on the table trading idex cause i was a “perma bull” 4. My comment on Luna “ bank run” somewhere in this thread was spot on. 5. Most of crypto is a pile of xxx.. but you can make a lot of money if you dont get married to coins or worse become a bitcoin maxi. 6. I made 15 x on Luna in 2 days and was stopped out by Kucoin (the lower luna went my short became less profitable as they unilaterally adjusted the leverage ratios down) otherwise it was going go to be 100x in a three month trade shorting Luna starting with 2 and a halve months of losses.
House never looses and unfortunately we are not the house.
Stock market and crypto is quite a nice scam we made to trick ourselves.
We all think we are so smart, but the bots are smarter and they just do the opposite of what we do and win every fricking time.