The price of Terra Luna Classic (LUNC) continues to fall unfazed by the decline of FTX and its affiliates. Terra Luna Classic is below the $1 trillion market cap at the time of writing as investors reacted to the mess caused by one of the world’s largest cryptocurrency exchanges.
This situation is also quite similar to Terra Luna Classic as LUNC has weekly losses of around 28%. LUNC is down 6.7% in the last 24 hours and is trading at a price of $0.0001820
An immediate recovery of the crypto market is highly unlikely. Experts expect the crypto market to hit bottom, which means we may see another upward movement in the crypto market.
FTX moves funds to a cold wallet due to hacker concerns.
On Saturday the 12th, FTX announced a hacking attempt on their platform via Telegram. FTX noticed this due to a mysterious outflow with a maximum value of $600 million. Users were informed during the hack that they should remove all FTX apps and not log into FTX’s exchange websites.
The $600 million left over from FTX came after FTX filed for Chapter 11 bankruptcy on Friday.
Hours after the mysterious outflow of funds, FTX officials decided to send the remaining funds to cold wallets to prevent further damage. This is according to a recent CoinDesk article.
The fate of FTX rests in the hands of a few researchers who will do everything they can to determine the cause of the exchange. People at the top of this industry like Binance CEO Changpeng Zhao and Cardano’s Charles Hoskinson claim that FTX’s fall will push the crypto market back a few years.
Terra Luna Classic Price: LUNC has a short-lived dip ahead of its recovery to $1
The price of Terra Luna Classic has held strongly close to the USD 0.0001640 support level, while a bearish trend has swept across the entire crypto market. Terra Luna Classic rebounded quickly until it touched the 50-day exponential moving average (EMA) (in red), then Terra Luna Classic’s rebound disappeared again. Due to the expired crypto market, the token of Terra Luna Classic has continued to fall to a value of $0.0001820.
A 26% decline can be seen on Terra Luna Classic as he validates the symmetrical triangle pattern. This pattern is neutral until it breaks, after which it can go up or down.
The chance of a retracement is very high if you look at the Moving Average Convergence Divergence (MACD) indicator. Terra Luna Classic is still trying to escape the sell signals given when the 12-day EMA (in blue) crosses below the 26-day EMA (in red).
Investors will likely go for a lower LUNC price before entering the market, with these investors looking to take the maximum benefit if Terra Luna Classic hits $1.0000. The fact that the Relative Strength Index (RSI) is below the center line will lend more credibility to Terra Luna Classic’s bearish price trend. This only happens when it falls below the oversold area (below 30.00).
It could also be the other way around if Terra Luna Classic can continue to defend the support level with the rising trend line. This could lead to a reversal towards a price as low as $0.0001345, after which a corresponding break above the triangle is made.
You must remember that symmetrical triangles have a breakout target of 26% in the case of Terra Luna Classic. This is equal to the distance between the widest points of the pattern and the extrapolation point of the breakout. Such a move will put the Terra Lunna Classic on a positive path that could take the price up to $1.0000.
Terra Luna classic alternatives that promise promising results
If recent events on FTX have calmed down a bit, the crypto market will further dampen its bullish outlook. With these unfavorable situations in the crypto market, investors can also start looking at new projects with huge returns.
One of these is Tamadoge (TAMA), one of so many unique digital assets that has risen over 1,800% (compared to its pre-sale crypto price) since listing on OKX in early October.
At the same time, investors can also diversify their crypto portfolio with projects such as Dash Trade, IMPT and Calvaria. Pre-sales are ongoing for all three tokens, so far they stand out due to their strong fundamentals. These strong fundamentals provide stronger opportunities for large returns after the IPOs.
Dash 2 Trade (D2T)
Dash 2 Trade (D2T) aims to make difficult decisions easier for investors. This is what Dash 2 Trade aims to do by providing world-class crypto analysis, a social trading platform and actionable market data to its users. Dash 2 Trade’s ecosystem is D2T which is an ERC-20 token built on the Ethereum blockchain.
With Dash 2 Trade, think of an all-in-one terminal where investors have exact accurate information at their disposal. Here, investors can test different strategies and take advantage of potential opportunities in the market.
At the time of writing, D2T is selling at a price of 0.0513 USDT, but will increase to 0.0533 USDT at the next presale stage.
Visit The Dash 2 Trade Presale now
IMPT is built on Ethereum’s PoS blockchain. IMPT is a carbon credit site where users can both earn and trade NFT-based carbon offsets. These NFT-based carbon offsets can also be earned by shopping at one of the many eco-friendly stores on offer. Due to the fact that carbon credits are now in the form of NFTs, it is easier to keep track of them transparently. This can reduce many different problems in the CO2 market.
The pre-sale of the sustainable crypto IMPT has raised more than $12.6 million in a few weeks after its launch. This makes IMPT one of the most popular crypto presales ever.
Visit the IMPT Presale now
For the blockchain players, Calvaria (RIA) might be the cryptocurrency they will be extremely excited about. Calvaria Offers many different promising opportunities, which makes investors very interested in Calvaria.
The sign for Calvaria in Duels of Eternity is RIA. This game takes place in an afterlife Metaverse, with the goal of helping traders acquire non-fungible token (NFT) trading cards. Players are challenged in the game to create strategies that help them win matches in the game. The RIA token makes it possible to buy NFT on the in-app NFT marketplace.
Visit The Calvaria Presale now