$LUNA is showing classic listing-driven volatility after Binance introduced the new LUNA/USDC pair. The news sparked a quick 13% rally, but the move failed to hold as sellers stepped in, pushing the price back down. Currently, LUNA is trading around $0.1052, down 3.5% in the last 24 hours, highlighting that the market remains cautious despite improved liquidity and visibility from the listing.

From a technical perspective, $LUNA remains in a clear downtrend, trading below its 7, 25, and 99 EMAs, which signals persistent bearish pressure. Price is now testing a critical support zone near $0.1045, aligned with the lower Bollinger Band. Momentum indicators are mixed: MACD stays negative, confirming trend weakness, while RSI near 36–42 suggests the market is approaching oversold conditions, opening the door for a short-term bounce or consolidation rather than a strong reversal.

On the derivatives side, risk is rising. The Long/Short ratio jumped 20% to 1.53 within hours, showing aggressive long positioning by leveraged traders. However, this optimism is not shared by smart money. Top traders are net sellers, with sell volume exceeding buy volume by more than 4x, and a recent $1.89M net outflow points to distribution rather than accumulation. This divergence significantly increases the risk of a long squeeze.

Overall, $LUNA sits at a make-or-break level. A clean break below $0.1045 could trigger cascading liquidations and accelerate downside. If support holds, a relief bounce toward $0.1070 is possible, but the broader trend remains bearish. In the mid to long term, LUNA continues to be a high-risk, high-volatility asset, with price sustainability dependent on maintaining the $0.10 psychological level and rebuilding confidence beyond short-term listing hype.

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