Binance to move forward with burning LUNC
So, last night Binance announced that it will move forward with burning LUNC in spot and margin trading. This came as a bit of a surprise to me personally. Initially, when I saw this pump, I had no idea what was going on but now it all makes sense.
But as you can see, this steep rise in price has completely obliterated any ability to technically analyse. I made a $1000 entry in the initial range zone expecting a good boost but there wasn't much there. So, for now, I am still holding on to the coin.
My last analysis worked relavtively well, if not delayed. But now, with this recent announcment, I think buying whenever is a good option.
There's a lot of hype around this coin, albeit much of it being misguided and people hoping for it to reach $1. This hype can be useful though. As long as you are not putting in your rent money expecting quick gains, holding on to this asset for a significant amount of time will be beneficial.
But as you can see, this steep rise in price has completely obliterated any ability to technically analyse. I made a $1000 entry in the initial range zone expecting a good boost but there wasn't much there. So, for now, I am still holding on to the coin.
My last analysis worked relavtively well, if not delayed. But now, with this recent announcment, I think buying whenever is a good option.
There's a lot of hype around this coin, albeit much of it being misguided and people hoping for it to reach $1. This hype can be useful though. As long as you are not putting in your rent money expecting quick gains, holding on to this asset for a significant amount of time will be beneficial.
Trade active:
Pull back has been made and I have made another entry
