Home Latest News Terra's LUNA price could 10x if history repeats itself pt.2 – FXStreet

Terra's LUNA price could 10x if history repeats itself pt.2 – FXStreet

Tony M. Tony M.

Terra's LUNA Price accomplishes a 3x rally in 24 hours. A $100 investment made two weeks ago since posting the 10x thesis is now worth $400 and was valued at $980 on September 9th at 9:am 
Terra LUNA price has produced a jaw-dropping 200% rally as the bulls have charged forward, wiping out all of the previous e summertime highs. Last month a bullish thesis was proposed here at FXStreet, linforming investors that a 10X bull run could occur for the controversial crypto token. The sudden 3.1x spike is an optimistic gesture confounding the strength of Terra for the months to come. 
LUNA price currently auctions at $4.86 as an expected profit-taking consolidation unfolds. The 8-day exponential and 21-day simple moving averages appear to have catalyzed the monsoon bullrun when a golden cross was produced on September 3 while LUNA traded near $1.75.  Additionally the Relative Stregnth Index produced a Positive RSI Reversal sigfnal which gave confidence  for sidelined investors to join the market.
A Fibonacci Retracement tool surrounding LUNA's first spike from $1.00 to $22.45 on May 31 shows the current market value facing rejection near the 50 and 61.8% retracement levels. The LUNA price must close above these levels on higher time frames to validate that this move is the start of the anticipated 10x bullrun.
Against the BTC, the Terra Classic produced a spike above the $0.00000002 sats level, the bullish signal the 10x thesis mentions to look for. S A dip back into $0.00000001 could be early evidence of a weakening trend. If the $0.00000001 SATS level is tagged, LUNA could be in a bearish predicament. The bears could forge a selling frenzy targeting the $1.00 low as a result, which would be an 80% decline from the current market value.
LUNA 10X Bullrun Thesis
In the following video, our analysts deep dive into the price action of LUNA, analyzing key levels of interest in the market. -FXStreet Team

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Ethereum price is fighting to find footing after slipping below $1,600. The last few days have seen the newest proof-of-stake crypto asset lose at least 16% of its value due to intensifying external economic forces. Declines are likely to stretch beneath $1,500 despite Ethereum activating the Merge earlier on Thursday.
ADA sees investors focusing on retail numbers out of the US today, as markets try to get their heads around a myriad of moving elements – from the EU measures to tackle the energy crisis, to Japan where the central bank is near to intervening in forex markets. 
Chainlink price is dangerously hovering within a rising channel while losses to $5.80 linger. Enterprise-grade middleware from Chainlink can help organizations develop climate markets and enhance energy management. LINK may hold support at the 100-day SMA.
CRO consolidates around the $0.108 support level before establishing a directional bias. Investors can expect a 16% ascent to $0.126 to collect the sell-stop liquidity. A daily candlestick close below $0.108 will invalidate the bullish thesis.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
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