您现在的位置是:Should you buy Terra LUNA as it gets extremely oversold? >>正文
Should you buy Terra LUNA as it gets extremely oversold?
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛2483人已围观
简介The Terra price crashed to the lowest level since February this year as the cryptocurrencies sell-of...
The Terra price crashed to the lowest level since February this year as the cryptocurrencies sell-off accelerated. LUNA dropped to a low of $50.60, which was about 60% below the highest level on record. As a result, its total market cap has declined to about $19.5 billion.
Terra downward trend
Terra was not left behind in the ongoing cryptocurrency sell-off as investors battled the rising volatility and risks in the market. It was not alone considering that other cryptocurrencies also crashed to multi-month lows.
Indeed, the total market cap of all cryptocurrencies tracked by CoinGecko declined to above $1.56 trillion. At its peak, the market cap rose to more than $3 trillion, making them large asset classes in the world.
Terra has therefore declined as many people who own the coin dump it fearing more losses. There are also concerns that about the lack of inflows into the coin.
Learn more about how to buy cryptocurrency.
Further, fears of the hawkish Federal Reserve have pushed more people out of the market as evidenced by weak performance across the board. For example, the tech-heavy Nasdaq 100 index has dropped by 26% from its highest point this year. Similarly, the Dow Jones and the Nasdaq have all declined by more than 10% from their highs.
Meanwhile, Terra price is also struggling as its DeFi platforms see intense outflows. According to DeFi Llama, Terra’s total value locked (TVL) has declined by more than 18% in the past 24 hours. This is a deeper decline than other chains like Ethereum, Solana, and BNB Chain.
The TVL currently stands at $20.19 billion. Its biggest applications have seen their TVL drop by more than 20% in the past 24 hours. For example, the TVL of the Anchor Protocolhas slipped by 16% while those of Lido and Astroport have fallen by over 20%.
Terra price prediction
In my last article on Terra, I warned that the coin would see a major decline since it was forming an inverted cup and handle pattern. This prediction was accurate as the coin has crashed sharply in the past few days.
Terra has moved below the 25-day and 50-day moving averages while the MACD and the Relative Strength Index have moved to the extremely oversold levels.
Therefore, the LUNA price will likely have a brief rally this week especially when the US publishes weak consumer inflation data. If this happens, the next key resistance to watch will be at $60.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/256948.html
相关文章
Whales buy over 400 million Dogecoins in the current dip
Should you buy Terra LUNA as it gets extremely oversold?The crypto market has quite literally crashed today. Everything is red as investors steer clear of r...
阅读更多
Exotic Markets interview following launch of Dual Currency Note (DCN)
Should you buy Terra LUNA as it gets extremely oversold?It has been a turbulent time in the cryptocurrency markets recently. With the macro climate worsenin...
阅读更多
Bitcoin price prediction: BTC forms a dead cat bounce
Should you buy Terra LUNA as it gets extremely oversold?Bitcoin price is bouncing back as investors rush to buy the dip following the weekend turmoil. BTC i...
阅读更多