![How Terra [LUNA] buyers can leverage this strategy to optimize their returns](https://i.headtopics.com/images/2022/9/25/cryptoamb/how-terra-luna-buyers-can-leverage-this-strategy-t-how-terra-luna-buyers-can-leverage-this-strategy-t-1573992013141344258.webp)
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Terra’s recovery efforts by the team and its community over the last month rekindled positive investor sentiment, especially during the start of this month. These improvements aided its native token LUNA to record an over […]
The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.recovery efforts by the team and its community over the last month rekindled positive investor sentiment, especially during the start of this month.
The price action’s recent plunge flipped its previous support to an immediate resistance. The coin could see a sustained setback in the near-term before picking itself up in the coming sessions.Source: TradingView, LUNA/USDT After testing this resistance multiple times, the bears were quick to undermine the over-extended bull run. The altcoin witnessed a solid descent, one that inflicted a bearish crossover of the 20/50 EMA with the 200 EMA .
On the other hand, an eventual or immediate recovery above the 20/50 EMA would confirm a bearish invalidation.The heightened selling pressure has kept the Relative Strength Index in the bearish zone. A recovery towards the 40-50 range could induce a rather slow-moving compression phase on the chart.
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