LUNA Price Prediction: Will We See A Return To An Uptrend Today?

LUNA is currently in a downtrend, correlating with the bearish retracement of the general crypto market. It rallied to the $1.4 price level on April 12 before declining to $1.28 on April 19. LUNA’s trading volume is down by over 28%, a factor that might be contributing to its price dip. 

LUNA Technical Analysis 

LUNA is experiencing price volatility today, trading in a downtrend as the bulls seek to rally again. It has dropped below its 50-day and 200-day Simple Moving Averages (SMA), a bearish sentiment. Also, the Relative Strength Index (RSI) is 32.68, just above the oversold region of 30. However, the indicator is moving sideways, reflecting trader indecision.  

LUNA’s Moving Average Convergence/Divergence (MACD) is below its signal line and shows a negative value. It implies that the asset is under intense pressure from the bears. However, the bearish histogram bars are fading away, hinting at the possibility of a trend reversal to the upside for the asset.

LUNA moved into a downtrend on April 18, 2023, and the bears are still active in the market. Also, the low trading volume indicates traders’ disinterest in the market today. Expect further price decline in the short-term to $1.1 till the bulls rally again.

61.8% Fib Level Critical To LUNA’s Price Action

LUNA has dropped below the 78.6% Fib level causing the asset to experience a downtrend. However, the 61.8% Fibonacci level ($0.00011159) will be a critical support level for the asset. A drop below this zone will signal a further price decrease for the asset. 

Currently, the market is favorable for traders in short positions but exhibits price volatility.

Notable Events On Terra Network

Several activities in Terra’s ecosystem could influence its price action significantly. Here are the notable events that could influence investor sentiments

Do Kwon Charged With Fraud

Do Kwon, Terraform’s founder, faces an indictment in Montenegro bordering on fraud. Although his extradition process is ongoing after his arrest in March, the Motenegrin authorities slammed him with an indictment. 

Do Kwon according to Bloomberg reports allegedly forged his passport and other identity documents while boarding a plane to Dubai before his arrest.

These news charges could delay Kwon’s extradition. If found guilty, the Terraform founder will likely face a three-month to five years prison sentence. Do Kwon’s disappearance after Terra’s crash in 2022 eroded investors’ confidence in the project. 

TERRA Community Embrace Alliance Integration

The Alliance Module is successfully integrated on Terra’s mainnet, creating cross-chain linking and expansion possibilities. Alliance enables users to stake multiple tokens on a single chain to earn rewards. Also, it can integrate with any Cosmos Chain without any significant changes to the core modules or consensus mechanism.

Both chains integrate the alliance module and choose which tokens users can stake on their chain by governance. These selected tokens are referred to as alliance assets. 

Each alliance asset is assigned a take rate and reward weight. Also, users of the individual chains in alliance can bridge their asserts using the Inter Blockchain Communication protocol (IBC).

LUNA Alternatives 

While LUNA is down in the market today, there are exciting presales that reward early investors and have great potential. 

Deelance (DLANCE)

DeeLance is the job marketplace on the blockchain that connects freelancers and employers to create professional relationships. With the exponential growth in the freelancing niche, many organizations rely on these professionals to boost their workforce.

The global gig market, according to experts, will likely exceed $450 billion in 2023. This highlights the vast potential in this niche, where many individuals compete for the best jobs available. 

Sadly, Ponzi schemes and scam projects populate the internet. However, Deelance provides a platform secured by blockchain technology to meet employers and freelancers at a common ground.

Also, payment disputes are a grey area that challenges most popular freelancing sites. However, DeeLance uses Escrow protection to secure funds and satisfy all parties.

DEELANCE is the native token on presale, worth $0.025 per token. These tokens grant users full access to this platform’s exciting benefits. However, the tokens’ price will keep increasing until it eventually lists on exchanges. 

Early investors can make quick profits instantly as the price increase in each presale round. 

Metropoly (METRO)

Metropoly provides practical real estate solutions to users using Web3 and blockchain technology for a well-rounded experience. Users take advantage of a unique concept known as a fractional investment, where they can own fractions of a property as NFTs with resell value. 

Real is a profitable investment model that remains relevant and transcends time. Previously, the high entry barrier, paperwork, and legal issues were major challenges to investors. However, with just $100, users can claim a fraction of the property on offer.

Metropoly launched the Bets testing phase of the project to give users a first-hand experience of things to come. METRO tokens will serve as the transactional currency in the ecosystem. Fortunately, these tokens are still on presale. 

The thirteenth stage of the presale is ongoing and ends in four days. One Metro is worth $0.083 in this stage, with a price increase in the next stage. Also, METRO will launch at $0.1 when it lists on exchanges rewarding early investors.