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LUNA

The New Chainlink Cycle Has StartedThis could very well be the new Chainlink channel before breaking the 8/1 Gann Fann and going to all time high. So as you can see from the two yellow circles this channel is becoming pretty important for link. Last time we hit the bottom of this channel it was the Covid crash March 2020. 791 days later we had the same thing happen capitulation crash to the bottom of this channel and so far things are looking pretty good, we keep closing weekly candles above it . The BTC/LINK time sequence is now officially started, check out this TA below . From here onwards Link has now started its new cycle, a potential rally could take it as high as 20 dollars this year , before rolling over at the top of this channel going into 2023. The next BTC/LINK sequence is now April 2024 which lines up with Bitcoin halving and March 2024 time Fib you see in this chart. It is possible that during the period April -March 2024 chainlink will break the 8/1 Gann Fann and start its parabolic move upwards and break all time high. Target for late 2024 would be 185-200 dollars.
COINBASE:LINKUSDLong
by Sporia
6
🚀WAVES: the hype is back! Is the scenario repeat again?Hi friends! As you all see WAVES starts pumping, It`s +34% in the few hours. Should you buy now? Let's go into more detail about this situation! According to the pattern which Waves follows, the price need to stay a little bit in consolidation to let the whales buy more coins and letter sell it out to retail traders on hype. The targets: 1. $5.75-7.35 - first value area and huge resistance for the price. I think the price will consolidate below this area until BTC will not make +25-30% and buyer return to the crypto market. 2. $12.20-14.70 3. $20.64-23.80 I`ll try to find the best entry point at the trendline breakout alonfg with some bull traps or manipulations, because it`s one of my favorite strategy. Of course growth will happen if Bitcoin show the strength and starts growing. As you know. almost 99% follows the BTC movements. The price can continue the growth on some excelent "news", but if you`ll buy it, is it a trading actually? Share your experience how do you earn on the news! Let me know in the comment! 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
W
by Yuriy_Bishko
8
📉UST -92%! How $11.5B became a $1.4B?Algorithmic stablecoin UST dropped by 92% and there are still different rumors: the network collapsed on its own or was deliberately destroyed to buy back all the Bitcoins from the Terra Foundation. As we know, about 80,000 BTC were used to secure this stabelcoin. Many holders of UST, just stablecoin(!), have lost about $10B. 📊In order to understand how it all happened, it is necessary to understand the mechanism of algorithmic stablecoins. 🎯Types of Stablecoins. In the picture you can see different types of stablecoins: 🔶 USDT, USDC - secured in fiat currency, government bonds. 🔶 DAl - secured by pledge of Ethereum in smart contracts. If you know that Ethereum will grow in value and you do not want to spend it, you pledge your Ethereum, and in return you get more DAI (dollars) for the trading or investing. 🔶 UST is an algo stablecoin, which has a price peg to the main cryptocurrency and USD. In the case of UST it was Luna. Luna was the security of the UST stablecoin and you could exchange 1 UST and the equivalent of Luna. If Luna was worth $100, you could get 100 UST in exchange, and for 1 UST you could get 0.01 Luna. There was also a huge supply of Bitcoin on the security of UST. ✅What is the advantage of algorithmic Stablecoin? The advantage of this approach is that there is no need to hold additional funds for security. If a bank issued securities in order to borrow money, it has the funds to security that debt, and also earns additional profit on the money it borrowed. For algorithmic stablecoins, the security was an altcoin. If Luna goes down in value, the guarantee that you can exchange USTs for dollars goes down also. If the bank goes bankrupt, you get your money back, if the altcoin drops....you know what happened next. 💼Algorithmic stablecoins are also called unsecured stablcoins. Luna had a security in BTC, but as it turned out later, not enough. Why is the peg broken? Let's not go into all the details, I'll tell you a simple algorithm: 1️⃣ The big amount🐳 of UST was exchanged for Luna. 2️⃣ They have sold big amount of Luna by market. 3️⃣ Luna dropped by 50% and its capitalization became insufficient to secure UST. 4️⃣ Panic selling by retail investors continued. 5️⃣ Terra Fundation, in an attempt to stabilize the stablecoin`s peg to the dollar, sold all their Bitcoin holdings. 6️⃣ Luna is down by 99.9998% and UST is down by 92% with no BTC on their wallets. What are the reasons of this dump? A week ago I did an article about Terra being a top 3 holder of Bitcoin and have about 80,000 Bitcoins. If you've been in trading for a long time, you should understand that the whales have liquidity issues and may have done a manipulation of the price of Luna to make Terra sell all their Bitcoins to save the stabelcoin peg. 🚩If you are a newbie, liquidity is a measure of the speed or availability at which a trader can buy or sell a cryptocurrency. You don't need much liquidity to buy 1 Bitcoin, but to make a $2-3 billion purchase, you need someone to sell $2-3 billion worth of Bitcoins. Such manipulations happen very often at the crypto market, as it happened with Luna and UST. When Bitcoin falls by 30%, more than $2B of long traderss are liquidated, all this liquidity is bought by big players, because they don't have such amount of liquidity for buying at other time. 🏁Are you still have a questions? What other reasons could there be for the Luna and UST dump? Write your ideas in the comments! 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. 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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by Yuriy_Bishko
7
🚀GALA: trandline breakout! Is it possible now?The Gala rebounded nicely after the fall, but after that it made long traders fuel for a 30-40% drop. Now traders in the crypto market are scared and do not understand what reade to open (long or short?). In this idea I will tell my thoughts about Gala, closest targets and preconditions for a possible long. What can be marked out on the chart? 1. the price rebound of 100% after the fall, caused many traders to buy in. After the last drop to $0.65-0.68 support, most had to sell their GALA. 2. Rising volumes every time the "bottom" was tested. On the volume indicator, you can see the volumes rising every time and the price bounce. A sign that someone may be accumulating a position. 3. 2 unsuccessful tests of the trend line and a return to it. A positive signal, a sign of bullish strength. What to expect in order to open a long position? 🔶A squeeze under the trend line. 🔶Watch for Bitcoin, which should also look strong. Another liquidity pickup below the $0.65-0.68 support level is possible. Keep an eye on volumes, which should rise in this case. Targets for a long: 1. $0.094-0.1 2. $0.11-0.12 💻Press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
5
Luna Classic FTWTrading view doesn't have Luna's classic chart working, so disregard the image above, I just needed to publish my prediction. Since the charts aren't working for luna classic, we are all flying blind. I've managed to scrape together my indicators on the Kucoin chart since it's the only one I can find currently. Applying RSI, HV, S A R, Ichimoku, EMA 10, 30, 50, & 100, I've come to the conclusion that Luna classic will moon if it reaches 0.000155 by 1:55 AM EST. Not financial advice.
KRAKEN:LUNAUSD
by Masterolive
2