Before I get started with my chart, I'm a n00b and just learning the ropes so please, be kind. I also want to start with that I hate to see what has happened to LUNA. Billions of dollars in market cap gone within a matter of days. I hope that Do Kwon will correct the matter for those invested with LUNA prior to the melt down.
OK, onto the charts. I have created a 4HR chart of LUNA with Fibonacci Retracement in conjunction with a pennant. As of 6:33PM EST, the price of LUNA is $0.00022 which is sitting on the line of support. A break to the downside could go as low as $0.00014. I do hope that the coin bounces off of support and goes back to the upside. I also see a pennant forming, which I hope LUNA can break up to the upside.
Overall, this coin is very, very cheap and could have potential if Do Kwon fixes LUNA. Please note that this coin is EXTREMELY volatile. Only invest what you can afford to lose.
As always, do your own research and manage your risk. My analysis is not financial advice.
Cheers!
OK, onto the charts. I have created a 4HR chart of LUNA with Fibonacci Retracement in conjunction with a pennant. As of 6:33PM EST, the price of LUNA is $0.00022 which is sitting on the line of support. A break to the downside could go as low as $0.00014. I do hope that the coin bounces off of support and goes back to the upside. I also see a pennant forming, which I hope LUNA can break up to the upside.
Overall, this coin is very, very cheap and could have potential if Do Kwon fixes LUNA. Please note that this coin is EXTREMELY volatile. Only invest what you can afford to lose.
As always, do your own research and manage your risk. My analysis is not financial advice.
Cheers!