Long
Terra Luna -- Is it the start of parabollic rise?
Downtrend break (first since May 16) yesterday.
[Daily] Bullish MACD cross.
[Hourly] Following Double Bottom near 0.00010 support line, there are multiple Bull Flags forming with increasing volume.
Two important twitter posts by Do Kwon today:
1) While the supply of LUNA has been increasing, no new tokens are being minted. It is swap fees entering supply that will stop eventually.
twitter.com/stablekwon/status/1527994283134816256
2) He posted official burn address and community has started burning the supply. It is likely the biggest reason for increased volume/strength. It has been heavily shorted and I don't think they covered yet, possibly even doubled down.
twitter.com/stablekwon/status/1528004028851859456
If/when token supply becomes fixed, we could see significant appreciation in price but do manage your risk. This is not a financial advice.
[Daily] Bullish MACD cross.
[Hourly] Following Double Bottom near 0.00010 support line, there are multiple Bull Flags forming with increasing volume.
Two important twitter posts by Do Kwon today:
1) While the supply of LUNA has been increasing, no new tokens are being minted. It is swap fees entering supply that will stop eventually.
twitter.com/stablekwon/status/1527994283134816256
2) He posted official burn address and community has started burning the supply. It is likely the biggest reason for increased volume/strength. It has been heavily shorted and I don't think they covered yet, possibly even doubled down.
twitter.com/stablekwon/status/1528004028851859456
If/when token supply becomes fixed, we could see significant appreciation in price but do manage your risk. This is not a financial advice.
Note
More good news! Mexican crypto exchange is considering buying LUNA and burning to reduce supply: twitter.com/MEXC_Global/status/1528367126712446977Note
MEXC Global confirmed they will be using LUNA/USDT trading fees to burn LUNA supply: twitter.com/MEXC_Global/status/1529478233582088193Another trading platform, BingX, has announced a similar plan: twitter.com/BingXOfficial/status/1528940362336989184
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.