Terra (LUNABTC) – Coin of the Week
Terra is a blockchain protocol that powers price-stable global payment processes with fiat-pegged stablecoins. Terra, according to its white paper, blends the market stability and widespread acceptance of fiat currencies with the censorship resistance of Bitcoin (BTC) to provide fast and cheap settlements. The native token of Terra, LUNA, is used to keep the price of the protocol's stablecoins constant. LUNA holders may also request governance amendments and vote on them. Terra’s price is $18.53 USD with a trading volume of $183 million in the last 24h. It has a market capitalization of 7billion and a circulating supply of 387 million LUNA coins.
Technically, LUNA started an uptrend from December 2020. It had several corrections along the way and now it’s making a consolidation for at least one more move up to break the 0,00035410 BTC per LUNA. After that we must study the price action and figure out if it is going to go all the way to reach and break the resistance area marked on the chart or reverse to make a deeper pullback.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, LUNA started an uptrend from December 2020. It had several corrections along the way and now it’s making a consolidation for at least one more move up to break the 0,00035410 BTC per LUNA. After that we must study the price action and figure out if it is going to go all the way to reach and break the resistance area marked on the chart or reverse to make a deeper pullback.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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