fxs_header_sponsor_anchor

Breaking: Terra’s LUNA 2.0 price plummets below $5; here’s where it’s going next

Terra's LUNA 2.0 price has dipped below $5, crashing by more than 60% over the past week. The Layer 1 token reached a low of $4.50 and it is hovering around $4.80 at the time of writing. Further selling pressure could send LUNA 2.0 price to retest May 28's low at $3.50. 

LUNA 2.0 hourly chart

Terra's LUNA 2.0 price needs to reclaim $5.30 as support to have a chance of invalidating the pessimistic outlook. If this were to happen, LUNA could rebound to $6 or even $6.70.

Why shorting Terra's LUNA 2.0 price can be profitable

A brief technical and on-chain analysis on Terra's price. In the video below, FXStreet’s analysts evaluate where LUNA 2.0 price could be heading next.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.