$LUNA
Bearish Momentum: LUNA's price fell 6.13% to $0.123, trading below key EMAs, which confirms a strong downtrend.
Oversold Signals: The RSI is near 30 while the price hits the lower Bollinger Band, suggesting a potential short-term bounce.
Heavy Selling Pressure: High volume is driven by major capital outflows, and the long/short ratio has sharply declined recently.
Ecosystem Development: Binance will support the upcoming Terra Classic (LUNC) network upgrade, pausing LUNC deposits temporarily.
LUNA Technical Outlook
Price is down 6.13% to $0.123, showing strong bearish momentum.
The RSI is near oversold levels, hinting at potential short-term volatility.
LUNC Network Upgrade Ahead
Binance will support the Terra Classic (LUNC) network upgrade on December 18.
This involves a temporary suspension of LUNC deposits and withdrawals, while trading remains active.
Ecosystem Support Initiatives
Binance supports the LUNC ecosystem by facilitating network upgrades.
A token burn mechanism on trading fees aids the community's supply reduction efforts.
Key Levels to Watch
Watch for a potential bounce from the $0.123 support level.
Resistance is near the mid-Bollinger Band around $0.1285.
