TRENDING:
BoJ Interest Rate
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
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

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

XRP holds bearish bias despite spot ETF inflows

XRP holds bearish bias despite spot ETF inflows

Ripple (XRP) retains a bearish near-term tone on Friday, falling toward the psychological support at $1.00. This follows renewed inflation concerns in the United States (US) after the Federal Reserve (Fed) left interest rates unchanged, as two members of the committee dissented in favor of a 25 basis point hike.
Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows

Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows

The cryptocurrency market broadly corrects on Friday, as investors assess macro uncertainty and geopolitical tensions, which continue to escalate in the Middle East. Bitcoin (BTC) is trading below $64,000, down from the weekly high of $65,745. Altcoins such as Ethereum (ETH) and Ripple (XRP) are trading under increasing selling pressure below $1,900 and $1.10, respectively.
US sanctions Iran-linked Bitcoin insurance scheme for Strait of Hormuz ships

US sanctions Iran-linked Bitcoin insurance scheme for Strait of Hormuz ships

The U.S. Treasury has sanctioned two Iranian firms behind a maritime insurance operation that accepted Bitcoin, saying the scheme forced commercial vessels to buy coverage to pass through the Strait of Hormuz and funnelled the proceeds to the Islamic Revolutionary Guard Corps.
Bitcoin Weekly Forecast: Bulls hold the line

Bitcoin Weekly Forecast: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.
Bitcoin: Bulls hold the line

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.