តារ៉ា (LUNA) price has completed a corrective movement and could soon break down from its corrective pattern.
Luna Classic (LUNC) price has been ថយចុះ underneath a descending resistance line since Oct. 2. While a breakout from the line could occur, the longer-term trend remains bearish.
LUNA Price Hits Top of Corrective Movement
LUNA has been ការផ្លាស់ប្តូរ upwards inside an ascending parallel channel since Sept. 26. Such channels usually contain corrective price movements. This means that an eventual breakdown from the channel is likely.
The shape of the movement inside the channel supports this possibility. In it, the LUNA price has created an A-B-C corrective structure, in which waves A:C have had a 1:1 ratio.
So, it is very likely that the price movement inside the channel is indeed corrective. As a result, the preceding decrease is the main trend, which will continue after LUNA breaks down from the channel.
If a bearish breakout from the channel transpires, the closest Fib support area would be at $1.69, while the closest horizontal support area at $1.55.
Therefore, if the LUNA price fall below this area, there would be virtually no support below it. As a result, the rate of decrease could greatly accelerate.
While there would also be Fib support at $1.29, a movement towards those lows would take the price very close to a new all-time low. As a result, the Fib support would likely fail to initiate a bounce and the LUNA price would still fall towards a new all-time low.
LUNC Decreases Below Resistance Line
Similarly to LUNA, LUNC has completed an A-B-C corrective structure beginning on Sept. 26.
In the case of LUNC, the waves had a ratio slightly higher than 1:0.618. This led to a high of $0.00037 on Oct. 2. Since then, the price has been decreasing underneath a descending resistance line.
So far, the LUNC price has made four attempts at breaking out. As a result, it is possible that it will break out and initiate a short-term relief rally. Afterward, the downward movement would be expected to continue.
A potential reclaim of the $0.00037 resistance area would invalidate the bearish thesis and indicate that new highs are in store.
Future Downside Price Action is Likely
To conclude, the predictions for both the LUNA price and LUNC looks bearish. In the case of the latter, a short-term breakout could transpire prior to the resumption of the downward trend. In the case of the former, an immediate breakdown seems likely.
សម្រាប់ BeInCrypto ចុងក្រោយបង្អស់ Bitcoin ការវិភាគ (BTC) និងការវិភាគទីផ្សារគ្រីបតូ, សូមចុចទីនេះ
ការបដិសេធ៖ BeInCrypto ខិតខំផ្តល់ព័ត៌មានត្រឹមត្រូវ និងទាន់សម័យ ប៉ុន្តែវានឹងមិនទទួលខុសត្រូវចំពោះការពិតដែលបាត់ ឬព័ត៌មានមិនត្រឹមត្រូវណាមួយឡើយ។ អ្នកគោរពតាម និងយល់ថាអ្នកគួរតែប្រើព័ត៌មាននេះដោយហានិភ័យផ្ទាល់ខ្លួនរបស់អ្នក។ Cryptocurrencies គឺជាទ្រព្យសកម្មហិរញ្ញវត្ថុដែលមានការប្រែប្រួលខ្លាំង ដូច្នេះត្រូវស្រាវជ្រាវ និងធ្វើការសម្រេចចិត្តផ្នែកហិរញ្ញវត្ថុផ្ទាល់ខ្លួនរបស់អ្នក។
ការមិនទទួលខុសត្រូវ
រាល់ព័ត៌មានទាំងអស់ដែលមាននៅលើគេហទំព័ររបស់យើងត្រូវបានផ្សព្វផ្សាយដោយស្មោះត្រង់និងសម្រាប់គោលបំណងព័ត៌មានទូទៅតែប៉ុណ្ណោះ។ សកម្មភាពណាមួយដែលអ្នកអានអនុវត្តលើព័ត៌មានដែលរកឃើញនៅលើគេហទំព័ររបស់យើងគឺប្រឈមនឹងហានិភ័យរបស់ពួកគេ។
Source: https://beincrypto.com/terra-luna-and-luna-classic-lunc-price-in-trouble-as-support-weakens/