LUNA Long

31 oct. 2021

Luna continues to trade on a large long term channel of support (see base of trend line) - this coin loves to channel trade as its growth is correlated to UST. As you can see it stays in its fib levels pretty accurately and has a tendency to bound back to them after crashes well. So long as market continues to build will continue to grow, wild card theory is if one of the large cryptos starts to have TVL move into luna an accelerated growth spike will occur as its burning mechanic burns luna as more UST is minted. The best thing for luna is for it to continue to build in its channel calmly building rather than large spike as this will allow it to fall far in a crash losing market confidence