Brothers, something big has happened with LUNA! Just this morning, Do Kwon was sentenced to 15 years in prison by a U.S. federal judge. Once the news broke, LUNA, LUNC, and USTC all plummeted, with a drop of over 10%-15% within 24 hours!
News
The founder's heavy sentence means this project will be shrouded in legal stains for a long time. Institutions and big players are likely to choose to retreat for safety, and short-term selling pressure should not be underestimated.
Technical Analysis
LUNA has shown significant buying support around 0.1730-0.16, with a commission ratio showing +0.20%, indicating that many people are buying at this level.
However, the pressure above is also quite obvious, 0.2150-0.2500 is the previous oscillation range; if it cannot break through, it will continue to test the bottom.
Hongcai's personal opinion:
LUNA is currently in a dual phase of news-induced decline and technical probing. This trend is clearly dominated by bears, but in the short term, it may still oscillate between 0.16-0.1800. However, if it breaks below 0.16, it is likely to test the 0.1400 support downwards.
Before the legal risks are resolved, any rebound may be a trap for the unsuspecting! (How to avoid such coins, I will tell you in the chat room; the above altcoins are the most stable.)
So what should we do?
If you still hold LUNA, it is recommended to reduce your position or exit near 0.1800, do not gamble on a rebound.
If you want to bottom fish, make sure to wait for the 0.1400-0.1500 area to stabilize before considering a small test position.
Do not be misled by short-term rebounds, the legal bearish news has not fully materialized, risks outweigh opportunities!
I have been tracking LUNA's on-chain data and the movements of major players, especially changes in large holders' positions and capital flows. If you also want to know whether I will lay out a position in LUNA later and at which point to enter, follow me.
In such high-risk coins, timing is more important than anything else. Focus on Hongcai, guiding you to avoid deep pits and seize truly safe rebounds!
In the market, the most important thing is not to predict every wave, but to ensure you are always on the boat. The tide of liquidity will ultimately lift all true value vessels. Focus on Hongcai and participate in every attack of Hongcai! Hongcai will announce the specific entry time and real-time news every day at the home of the God of Wealth!#加密市场反弹 $LUNA
