LUNA
After a long period of lackluster activity, investors began to show more interest in LUNA on May 30, 2024. The increased interest came shortly after Terraform Labs and Do Kwon agreed to a fraud settlement with the U.S. Securities and Exchange Commission (SEC). Terra is trading at $0.678 during today’s European trading session, up 14.82% from 24 hours ago and 14.76% from 7 days ago.
Over the past 46 days, LUNA’s price remained largely unchanged until it suddenly surged 43%. 😀 Nearly q1un + 威: L20240098, this surge came after the coin (market cap $511 million) experienced a death cross on April 5, 2024, causing its price to drop briefly.
However, Terra’s recent progress tells a different story. According to the chart, the 50-day simple moving average (SMA) is about to cross above the 200-day SMA. This is known as a golden cross and signals a possible rise in price.
After the initial rise, LUNA returned to the top of the range in a classic “breakout and retest” pattern. The price of LUNA is expected to rise again and may face resistance at $0.7, $0.75, and $0.83.
After the SEC charged Terraform Labs and Do Kwon with fraud, they agreed to a settlement and canceled all upcoming court cases. The Terra community took this as good news and the price of LUNA surged significantly. Therefore, it is predicted that the price of LUNA may reach $2 soon.
