LUNA (Bithumb: LUNAKRW) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, LUNA began a wave one advance on January 28. The red wave one finished on February 7, and the red wave two correction ended on February 8. The red wave three advance finished on February 11, and the red wave four correction could have ended today. If this wave count is correct, LUNA should be heading next towards the February 11 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Terra is a price-stable cryptocurrency designed for mass adoption. Terra is backed by Luna, a decentralized asset that derives its value from transaction fees collected on the Terra network. BlockchainBrad interviewed the co-founder last year.
(Sources: https://terra.money/)How Will LUNA Trade?
LUNA (Bithumb: LUNAKRW) daily chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
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