Terra Luna CEO keeps his word as re-launch prompts investors
- LUNA price successfully relaunches at $7.00 since the devastating crash.
- Terra Luna price needs more time to point to a confident trade setup.
- Traders should consider LUNA as a no-trade asset until further notice.
Luma price has relaunched after witnessing the largest crash in Crypto history.
Luna price needs time
LUNA price has risen from the ashes as the digital asset’s 2.0 version trades at $7.00.
Terra Luna creators have spent the last few weeks catering to public relations, press and responding to investors. This week Do Kwon, CEO of Terraform Labs keeps his word as the digital asset has successfully launched and is trading on most exchanges.
LUNA price from a technical analysis point of view is still too early to forecast the next direction. However, the optimism and hope surrounding the relaunched token will certainly be a driving force for LUNA investors in the coming weeks. It might be best to sit on the sidelines and allow price action to develop before opening a position in such a volatile market.
LUNA/8-Hour Chart
Investing in the current LUNA price is still purely speculative. There is no way to forecast a probable move in either direction using technical analysis at the current time.. As more chart evidence is displayed in a few weeks, there may be a possibility to forecast the next move. For now, LUNA price should be viewed as a no-trade digital asset until further notice.
Author
Tony M.
FXStreet Contributor
Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.
