TRENDING:
EUR/USD
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

Breaking: Terra’s LUNA 2.0 price plummets below $5; here’s where it’s going next

Breaking: Terra’s LUNA 2.0 price plummets below $5; here’s where it’s going next
FXStreet TeamFXStreet TeamFXStreet

Terra's LUNA 2.0 price has dipped below $5, crashing by more than 60% over the past week. The Layer 1 token reached a low of $4.50 and it is hovering around $4.80 at the time of writing. Further selling pressure could send LUNA 2.0 price to retest May 28's low at $3.50. 

Terra LUNA 2.0 price chart

LUNA 2.0 hourly chart

Terra's LUNA 2.0 price needs to reclaim $5.30 as support to have a chance of invalidating the pessimistic outlook. If this were to happen, LUNA could rebound to $6 or even $6.70.

Why shorting Terra's LUNA 2.0 price can be profitable

A brief technical and on-chain analysis on Terra's price. In the video below, FXStreet’s analysts evaluate where LUNA 2.0 price could be heading next.

Author

FXStreet Team

More from FXStreet Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Pi Network Price Forecast: PI recovers amid new Pi App Studio updates

Pi Network Price Forecast: PI recovers amid new Pi App Studio updates

Pi Network (PI) trades above $0.2200 at press time on Monday, sustaining the 3.52% gains from Sunday. The announcement of Pi App Studio updates on Thursday aligns with the three-day recovery in PI token, with bulls aiming towards the 50-day Exponential Moving Average.  

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple hold key support levels?

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple hold key support levels?

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) begin the week on a cautious note, trading near their respective support levels. Market sentiment remains fragile following last week’s volatility, with BTC, ETH, and XRP correcting by nearly 10%, 14%, and 7%, respectively.

Top Crypto Gainers: Aster, Starknet, and Zcash recovery at risk

Top Crypto Gainers: Aster, Starknet, and Zcash recovery at risk

Aster (ASTER), Starknet (STRK), and Zcash (ZEC) trade in the green over the last 24 hours, struggling to retain gains while the broader cryptocurrency market is in the red. The technical outlook of Aster and Zcash remains mixed as bearish potential arises.

Michael Saylor denies reports of Strategy selling Bitcoin, reaffirms accumulation

Michael Saylor denies reports of Strategy selling Bitcoin, reaffirms accumulation

Strategy CEO Michael Saylor claims the company did not sell any of its Bitcoin, following rumours that the firm moved over 40,000 BTC across several wallets, according to the Arkham Intelligence dashboard.
Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: The capitulation phase unfolds

Bitcoin: The capitulation phase unfolds

Bitcoin (BTC) market structure continues to deteriorate as the capitulation phase begins to take shape, with BTC sliding below $97,000 on Friday and extending losses to more than 7% so far this week.