Arslan Butt
Terra LUNA crypto price prediction remains bullish as the coin is on a tear, having gained more than 28% in the last 24 hours. Previously, LUNA was trading in a bearish trend, losing 66% since September 9. The technical picture has shifted as a result of Binance’s announcement to adopt a Terra Classic (LUNC) burn mechanism on trading fees. The LUNA/USD opened at $0.0003094 on September 27.
In a single day, it achieved a high of $0.0003144 and a low of $0.0002910. The current price of LUNA/USD is $0.0003118. In recent weeks, the value of LUNA/USD has plummeted by about 41%, but it has quickly recovered and is now down only 3.80% in seven days.
» Binance To Implement Terra Classic (LUNC) Burn Mechanism
Quick thread on what we’re doing and why below.https://t.co/b86RlCGPmv
— CZ Binance (@cz_binance) September 26, 2022
The rapid collapse of the Terra ecosystem in May 2022, a “black swan” event, harmed its investors and the entire cryptocurrency industry. Major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have lost value since Terra’s demise, causing market turmoil.
Terra’s stablecoin, UST, had a market value of more than $18 billion prior to the collapse. Do Kwon, who founded the blockchain technology company Terraform Labs and built the Terra ecosystem, devised a way to save the project when the Terra network crashed.
As a result of the strategy, there was a hard fork and the formation of a new chain, Terra (LUNA).
Charges Against Terraform Labs Co-founder
According to The Financial Times, a South Korean court has issued an arrest warrant for Do Kwon. South Korean authorities have requested that Interpol issue a red alert for him. They initially assumed Kwon was in Singapore. Kwon, however, managed to flee the city-state, according to the Singapore Police Force. Do Kwon defended himself on Twitter, saying he is cooperating with authorities rather than hiding from them, and that he has nothing to hide.
BREAKING: International Criminal Police Organization issues worldwide arrest warrant for Terra founder Do Kwon.
— Watcher.Guru (@WatcherGuru) September 26, 2022
According to Do Kwon, the Terra investigation has resulted in no interaction with him from Korean officials or the filing of any allegations against him. According to local media, Kwon recently handed a letter of appointment to a lawyer at the Seoul Southern District Prosecutors’ Office, the division investigating the Terra LUNA collapse. In the third week of July, authorities in South Korea involved in the Terraform Labs investigation allegedly searched and seized 15 businesses.
Kwon, on the other hand, claims there are no allegations against him. This judgment’s outcome will have a significant impact on LUNAUSD. As a result, it is impossible to predict whether this coin will finish higher in September.
DEX Aggregator
TFM, the first of its kind and the most advanced on Cosmos, is the first and foremost a trade aggregator. TFM’s pro-trade DEX aggregator is now available on LUNA, LUNC, Juno, and Osmosis exchanges. TFM’s aggregator, which routes to all current DEXs on the relevant network, allows users to execute any deal at the best price without having to search through all the DEXs.
TFM is the complete DEX aggregation and analytics solution on Terra $LUNA
Fully LIVE experience
LIVE updating charts
LIVE updating trade history
LIVE updating mobile versionGet the best swap rates anywhere on Terra pic.twitter.com/96fbBKFx0x
— TFM (@tfm_com) August 25, 2022
To reduce slippage, large deals can be divided up and used on multiple DEXs at the same time. The all-encompassing aggregator aims to increase the consumption of all liquids already available on various DEXs. As a result, they built a massive super pool. It will attract more users and increase the volume of LUNA/USD trading.
Terra LUNA Crypto Price Prediction – Triple Top Resistance $0.00032 in Play
The LUNA/USD coin is rising, but it is encountering immediate resistance near the $0.00032 level. The closing of doji and spinning top candles indicates a weakness in the buying trend. The triple top pattern is expected to extend major resistance near $0.00032. A bullish breakout above the $0.00032 level may open up additional buying opportunities until the $0.000387 level.
LUNA Price Chart – Source: Tradingview
The 50-day moving average is likely to support LUNA near $0.000269, while the RSI and MACD indicators support a buying trend. Investors are likely to keep an eye on the $0.000324 level, as a bearish breakout below this level could lead to a drop, whereas a bullish breakout above this level could lead to a further uptrend.
Related:
- Terra Luna Price Prediction 2022 – 2025 – Best Crypto to Buy?
- Where to Buy Terra Luna – Beginner’s Guide
- How to Buy Luna 2.0 – Beginner’s Guide
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This article was written for Business 2 Community by Arslan Butt.
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