Skip to main content

Technical Analysis: Terra Luna Drops 20%, While Symbol Token Climbs on Friday

https://motleybloggers.com/wp-content/uploads/2022/01/technical-analysis-terra-luna-drops-20-while-symbol-token-climbs-on-friday.jpg

Terra (Luna) was one of this week’s biggest crypto losers, falling by as much as 20% during Friday’s session. Declines in terra came as cosmos (ATOM) also had a double-digit decline.


Biggest gainers


Although crypto markets were mainly trading in the red, symbol (XYM) was one of the rare exceptions to climb higher today.


XYM rose to an intraday high of $0.1728 during Friday’s session, rising from an earlier low of $0.155.


This move started when the symbol surged from its support at $0.146, an area where it has been trading around for the majority of the week.


As of writing, XYM was trading over 7% higher, with price action continuing to gain strength, after a recent breakout from a key RSI resistance point.


The 14-day RSI indicator is currently tracking at 44, following its surge from the 35 level, which was a historical point of price uncertainty.

Traders will likely now wait to see if symbol could reach resistance of $0.189.

Biggest losers


Another day, and cosmos (ATOM) was once again trading lower, falling by as much as 10% in the process. Despite this, it was terra (LUNA) which was Friday’s bear of the day, and was down around 16% as of writing.


The move saw LUNA/USD extend its recent selloff, hitting an intraday low of $47.72, following an earlier high of $58.20.


Looking at the chart below, the decline commenced after a breakout from the $59.75 floor, leading to further drops, which now sees new support of $47.95 being formed.


In addition to the breakout, prices are now heavily oversold, which is one of the only indications that the bearish pressure could be fading.

Will we see any lower lows this weekend from terra? Let us know your thoughts in the comments section below.



Origina post from
https://motleybloggers.com/technical-analysis-terra-luna-drops-20-while-symbol-token-climbs-on-friday/

Comments

Post a Comment

Popular posts from this blog

US Senator Urges Congress to Pass Her Crypto Bill — Claims It Would’ve Prevented FTX Bankruptcy

http://motleybloggers.com/wp-content/uploads/2022/11/us-senator-urges-congress-to-pass-her-crypto-bill-claims-it-wouldve-prevented-ftx-bankruptcy.jpg U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital asset space.” Senator Lummis Explains How Her Crypto Bill Would Prevent the FTX Catastrophe U.S. Senator Cynthia Lummis (R-WY) explained in a series of tweets Monday why the collapsed cryptocurrency exchange FTX wouldn’t have gone bankrupt had Congress passed her crypto bill. The cryptocurrency trading platform filed for bankruptcy last week. The senator from Wyoming has been a supporter of bitcoin for quite some time. She personally owns BTC and believes that bitcoin is something that the Federal Reserve should hold on its balance sheet. She has said repeatedly that the cryptocurre...
Post a Comment
Read more

Bitcoin, Ethereum Technical Analysis: ETH Back Under $2,000 as Balenciaga Gains Lose Steam

https://motleybloggers.com/wp-content/uploads/2022/05/bitcoin-ethereum-technical-analysis-eth-back-under-2000-as-balenciaga-gains-lose-steam.jpg Following strong gains to start the week, BTC once again fell under $30,000, as crypto prices moved lower on Tuesday. The downturn follows up from yesterday’s rally, which came as Balenciaga announced it would be accepting crypto payments. ETH also dropped, falling under $2,000 today. Bitcoin Bitcoin fell under $30,000 on Tuesday, as bears returned to action following a green start to the week. Following a high of $30,547.50 during Monday’s session, BTC /USD fell to an intraday low of $28,975.56 earlier today. Today’s drop saw BTC fall by over 5% in the day, as bullish sentiment following the Balenciaga crypto announcement faded. BTC /USD – Daily Chart Since then, bears have now pushed prices closer to support at $28,800, which is an area where BTC has resided over the past few weeks. Looking at the chart, the 14-da...
Post a Comment
Read more

Tiffany & Co. NFT Sale Sells out, Luxury Jewelry Retailer Rakes in $12.5M in Ethereum

http://motleybloggers.com/wp-content/uploads/2022/08/tiffany-co-nft-sale-sells-out-luxury-jewelry-retailer-rakes-in-12-5m-in-ethereum.jpg On August 5, 2022, the American luxury jewelry retailer Tiffany & Co. announced that the company’s non-fungible token (NFT) mint called “Nftiff” sold out. Tiffany’s sold 250 Nftiffs for 30 ethereum per Nftiff raking in more than $12.5 million from the sale. The NFTs created by Tiffany’s have to be redeemed by August 12 and so far 94 Nftiffs have been redeemed. Tiffany & Co. NFT Sale Sells Out Gathering $12.5 Million in Ether Six days ago, MotleyBloggers.com News reported on Tiffany & Co. revealing an NFT mint called “Nftiff,” a new product crafted by Tiffany’s that combines non-fungible token technology and luxury jewelry. Since then Tiffany’s has hosted its sale and all 250 NFT units sold out, according to a tweet published by the company on August 5. “Depending on which Crypt...
Post a Comment
Read more