LONG LUNAUSDT | Elliott Wave Impulsive Wave 5

Like announced in the precedent analysis of LUNAUSDT, the Elliott Wave 4 is confirmed, thus validated the short position.

Technical Analysis
We now enter in the 5th wave, the last Wave of the Impulsive Pattern.

It offers us a long position.
Even if the price rebounded at the Fibonacci 0.786, I place the target profit at 1.618 to higher probability to make profit.

Entry Price: 84.09$
Target Profit: 123.30$
Stop Loss: 78.15$

Ratio Risk / Reward: 6.6
Potential Profit: 46.63%

Fundamental Analysis
Terra Luna ecosystem has seen a huge increase in term of new investors recently. Furthermore, the teams behind is currently working a lot to develop new DeFi apps that seem promising.
Indeed, the power of the project is that they have their own algorithmic stablecoin (UST). The more people will buy UST the higher the price of LUNA will be.
Even if this seems wonderful, they are drawbacks like any project. So, I invite you to discover more about Terra Luna ecosystem to make your own opinion.

Market Capitalization
  • LUNA: 9th
  • UST: 21st

I am also curious to earing your opinion too.

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