Show

April

Terra

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-show-renewed-interest-in-terra" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Show Renewed Interest in Terra</a><br></p>
<p style="text-align: justify">Terra (LUNA) has attracted renewed investor attention as of May 30, 2024, following a settlement involving Terraform Labs, Do Kwon, and the U.S. Securities and Exchange Commission (SEC). CoinMarketCap <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that LUNA traded at $0.67, experiencing an 11.5% rise in the past 24 hours and an 11.6% increase over the last week.</p>
<h2 id="what-is-the-potential-golden-cross-formation">What is the Potential Golden Cross Formation?</h2>
<p style="text-align: justify">For 46 days, LUNA’s price had been in consolidation until a breakout occurred, resulting in a 43% increase. Earlier, on April 5, 2024, LUNA saw a death cross, signaling a bearish trend as the 50-day simple moving average (SMA) fell below the 200-day SMA.</p>
<p style="text-align: justify">The latest developments point to a potential bullish trend with the 50-day SMA nearing a cross above the 200-day SMA, potentially forming a golden cross. This golden cross is viewed as a bullish indicator, suggesting a possible upward trend.</p>
<h2 id="could-luna-reach-2-soon">Could LUNA Reach $2 Soon?</h2>
<p style="text-align: justify">After the initial rally, LUNA’s price retraced to the previous range’s top in a ‘break and retest’ formation. Analysts forecast further growth with resistance levels at $0.7, $0.75, and $0.83. If LUNA falls back into its former range, it may stabilize with support levels at $0.62, $0.54, and $0.5.</p>
<p style="text-align: justify">The settlement of the SEC’s fraud case against Terraform Labs and Do Kwon has been perceived positively, leading to the price rise. Analyst Eric Cryptoman predicts that LUNA could hit $2 soon. However, Kwon’s legal woes are not entirely over; he is currently out on bail in Montenegro and faces extradition to the U.S. or South Korea for further charges.</p>
<h2 id="actionable-insights-for-investors">Actionable Insights for Investors</h2>
<p style="text-align: justify">Investors seeking to capitalize on LUNA’s potential rally should consider:</p>
<ul>
 <li>Monitoring the formation of the golden cross for entry signals.</li>
 <li>Identifying key resistance levels at $0.7, $0.75, and $0.83 for profit-taking targets.</li>
 <li>Watching support levels at $0.62, $0.54, and $0.5 to manage risk effectively.</li>
 <li>Staying updated on Do Kwon’s legal proceedings as they could impact <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> sentiment.</li>
</ul>
<p style="text-align: justify">In summary, Terra (LUNA) has witnessed a resurgence in investor interest following a significant legal settlement. The potential formation of a golden cross points to a bullish trend, with analysts projecting further price increases despite ongoing legal complexities surrounding Terraform Labs’ CEO, Do Kwon.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-show-renewed-interest-in-terra" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Show Renewed Interest in Terra</a></h5>

Investors Show Renewed Interest in Terra

Table of Contents

BH NEWS

Other articles published on May 31, 2024

Join the Elite: Qubetics Whitelist - Your Gateway Beyond Binance and Avalanche

Ripple CTO Provides "Absolute Proof" He Is Not Satoshi

Altcoins Revolutionizing the Industry

Shiba Inu faces selling pressure as 4 Trillion SHIB floods exchanges

Crypto ChatGPT-Style Revolution in 2025 Predicted by Top Analyst

The Best Altcoins for Making a Million with Crypto

Join our free newsletter for daily crypto updates!