What Is🌟 Terra (LUNA)🌟?
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.
Terra seeks to set itself apart through its use of fiat-pegged stablecoins, stating that it combines the borderless benefits of cryptocurrencies with the day-to-day price stability of fiat currencies
Considering that the Luna token grew yesterday and was able to record the new ATH and significantly increased by marketcap and volume.
There are a couple of fundamental factors driving awareness for Terra's Luna.
- There's another factor that could be driving a surge in trading volume for Terra's Luna. Recently, news broke that Terra is set for an upgrade called Columbus-5. As reported by CoinDesk, the Columbus-5 upgrade will enable more applications to be built on the network and will create greater financial incentives for stakers .
coinmarketcap-terra.money
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✅TECHNICAL ANALYSIS
As you can see in the weekly time frame for LUNA/USDT, the price is trading around 28.9$ .
Luna broke it main resistance, which was in the range of $ 16-20,it was able to reach $ 30 as an ATH and it can continue its upward trend and has no obvious resistance on its way at the moment.
We can imagine an ascending channel for it that has paved its way by passing through middle of channel . If it manages to maintain the recent weekly candle; I hope to continue the rising and the final long target can be the in the edge of channel . It can have a pullback to the middle of the channel or its green support and then continue its upward trend.
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💥(Anyway, my constant suggestion to my dear community is to buy step by step ( in a few steps) , With considering risk management , Because this crazy market is very volatile than you have never seen in any other markets .)
💫(also Following security measures is vital in cryptocurrency trading. Always remember that $100 worth of a token may become a fortune someday. So treat every penny with respect.)
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👉This analysis is my personal opinionand you are responsible for your own trading or investment.💯
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🙏with Best Regards and being successful