Crypto Chart Alerts
Bitcoin is unable to hold the support of the $34,000-$34,200 area. BTC is now trading below $34,000 and things look ugly now. We might see more downward movement in the coming days. The next good support is the $32,500 level and major support is $28,500-$30…
Bitcoin keeps dumping hard and is unable to hold the $32,500 support level. BTC tested the major support of the $30,000 area and needs to hold above this zone. A daily candle close below $28,500 is extremely bearish and will lead to panic selling in the market. Keep tight stop loss in all open positions.
Crypto Chart Alerts
#LUNA Analysis : #LUNA dropped hard as #BTC price dips. Price tapped to the strong support zone of $57.50 - $62.00. Long wick shows strong buy pressure. Buy setups not looks good. Better wait for opportunities. Resistance is around $76.10 - $79.50.
LUNA dumped hard because of the UST peg issue. LUNA tested the $22.80-$25 support level and this is the last support for this rally. A break below this support will send LUNA to sub $10 levels. Wait for some time to settle the market for new entries. The resistance is $38-$40 area.
Crypto Chart Alerts
The TOTAL2 (altcoin marketcap) is holding the support of the $925-$970 billion area. TOTAL2 need to bounce from here to continue the bull rally. A close below this support will start a new downtrend in altcoins and we see a heavy sell-off. You can add some…
The TOTAL2 broke the support and dumped hard from there. Most altcoins see double digit loss in last 48 hours. TOTAL2 is now taking support at $780-$800 billion area. We might see a test of $925-$970 billion resistance now. If it goes above this resistance then we see some positive movement otherwise the dump will continue.
Crypto Chart Alerts
Bitcoin keeps dumping hard and is unable to hold the $32,500 support level. BTC tested the major support of the $30,000 area and needs to hold above this zone. A daily candle close below $28,500 is extremely bearish and will lead to panic selling in the market.…
Bitcoin is holding the $30,000 major support level. This is the area where BTC bounced back last time and made a new all-time high. Bitcoin need to show some strength from here. Market is full of panic and a small negative news will dump the market. Wait for 2-3 days to settle the market for new entries.
Crypto Chart Alerts
LUNA dumped hard because of the UST peg issue. LUNA tested the $22.80-$25 support level and this is the last support for this rally. A break below this support will send LUNA to sub $10 levels. Wait for some time to settle the market for new entries. The resistance…
LUNA dumping hard and broke the major support level. As said LUNA is now trading below $10 and this is the reason we told you to stay away from this. The next support is the $7.80-$8.80 area and if this is broken then we see $3-$4 very soon. LUNA is highly volatile and trading is risky now. Don't try leverage trading and use tight stop-loss if you buy LUNA.
IOTA analysis:
IOTA is going down with the whole market. The good support for IOTA is $0.265-$0.27 and we see a test of this zone before next move. The local resistance is $0.37 area and major resistance is $0.48-$0.49 area. Try to grab some IOTA near $0.27 with tight stop loss. We may see a bounce towards the resistance in coming days.
IOTA is going down with the whole market. The good support for IOTA is $0.265-$0.27 and we see a test of this zone before next move. The local resistance is $0.37 area and major resistance is $0.48-$0.49 area. Try to grab some IOTA near $0.27 with tight stop loss. We may see a bounce towards the resistance in coming days.
Bitcoin Weekly analysis:
Bitcoin is now testing the last weekly support level and a break below this is extremely bearish. The next good weekly support is $20,000-$22,000 area. BTC needs to hold the $28,000 level at all cost. The weekly resistance is $35,500-$36,000 area. If you have any open position then put tight stop loss because a break below this support will cause heavy selling.
Bitcoin is now testing the last weekly support level and a break below this is extremely bearish. The next good weekly support is $20,000-$22,000 area. BTC needs to hold the $28,000 level at all cost. The weekly resistance is $35,500-$36,000 area. If you have any open position then put tight stop loss because a break below this support will cause heavy selling.
LUNA and UST explained
Terra is the layer 1 blockchain like Ethereum or Bitcoin blockchain.
Terra blockchain has two token:
1. LUNA (the native token of Terra blockchain)
2. UST (the stable coin on Terra blockchain)
UST is a stable coin and the price is pegged to $1.
To mint $1 UST the algorithm will burn $1 Worth equivalent LUNA. This means that if UST demand increases the supply of LUNA keeps reducing. There is 20% APY for UST (which is very good for a stable coin) and this keeps pushing the demand for UST.
There is one problem with this algorithm that you can redeem UST for LUNA that means you can burn $1 UST to mint $1 worth LUNA.
When UST start losing its value from $1, users panicking and redeemed it for LUNA and this create huge supply in LUNA coins and more coins are sold on market. This is domino effect and create more panic with price dump.
The team is also minting to support the UST price but unable to make it stable and dumping LUNA on market.
The team is trying to stable the price of UST. Stay away from LUNA and UST for the moment until the pegging is done.
Also we may see delisting of LUNA from major exchanges because of the price drop.
We may see this thing happen again for other stable coin. Read about how the coins works and which algorithm it uses.
Terra is the layer 1 blockchain like Ethereum or Bitcoin blockchain.
Terra blockchain has two token:
1. LUNA (the native token of Terra blockchain)
2. UST (the stable coin on Terra blockchain)
UST is a stable coin and the price is pegged to $1.
To mint $1 UST the algorithm will burn $1 Worth equivalent LUNA. This means that if UST demand increases the supply of LUNA keeps reducing. There is 20% APY for UST (which is very good for a stable coin) and this keeps pushing the demand for UST.
There is one problem with this algorithm that you can redeem UST for LUNA that means you can burn $1 UST to mint $1 worth LUNA.
When UST start losing its value from $1, users panicking and redeemed it for LUNA and this create huge supply in LUNA coins and more coins are sold on market. This is domino effect and create more panic with price dump.
The team is also minting to support the UST price but unable to make it stable and dumping LUNA on market.
The team is trying to stable the price of UST. Stay away from LUNA and UST for the moment until the pegging is done.
Also we may see delisting of LUNA from major exchanges because of the price drop.
We may see this thing happen again for other stable coin. Read about how the coins works and which algorithm it uses.
Calculations for UST and LUNA #copied
- UST has a circulating supply of 12.12B
- It has a market cap of $7.4B
- To restore peg 12.12B - 7.4B = 4.72B of UST needs to be burned
- Terra validators have overwhelmingly agreed that this is what must be done, UST must be burned and peg must be restored
- To burn UST (and restore peg), you need to mint new LUNA
- To burn 1 UST you need to mint $1.00 worth of LUNA
- Let's do some simple math
- Say we can burn all the excess UST all at once right now, and restore peg
- To burn this 4.7B of UST we would need to mint $4.7B worth of LUNA
- At the current price of LUNA ($0.03), this means we would have to mint ~156B LUNA
- In this scenario, the circulating supply of LUNA would increase from 3.5B to ~160B (increase 45x)
- The price of LUNA will decrease to ~$0.0006
- Now you could in theory begin to slowly burn down that 160B circulating supply of LUNA (does this sound impossible and like a terrible investment? IT SHOULD SOUND IMPOSSIBLE AND LIKE A TERRIBLE INVESTMENT)
- The scenario described above is a made up fantasy and is not possible
- What's really going to happen is actually infinitely worse
- First problem: You can't burn all 4.7B UST at once because you can't mint 156B LUNA at once
- There is a limit on how much LUNA can be minted in one day
- Right now, they are voting to increase the limit
- This leads us to problem #2
- Second problem: As you mint LUNA, the price of LUNA goes down (LUNA is diluted), which means to burn more UST, you need to mint even more LUNA, until you descend into a vicious feedback loop of all out LUNA minting madness
- This is referred to by validators and people who understand the protocol as the "death spiral"
- Right now you can burn $1B UST by minting 33B LUNA
- The circulating supply of LUNA goes from 3.5B to 38.5B
- The price of LUNA is now 0.0027
- You then burn your next $1B UST by minting 1,000,000,000/0.0027 = 370B LUNA
- You burned your first $1B UST by minting 33B LUNA. The next $1B UST by minting 370B LUNA
- The next $1B UST would take trillions and trillions of LUNA
- I used $1B chunks just as an example
- Obviously the size of the burns would be much smaller as it depends on UST holders' bags
- The point is, LUNA can't recover unless they just decide to fundamentally change how the protocol works, which would result in Do Kwan and everybody else on the project being instantly indicted for fraud
- UST has a circulating supply of 12.12B
- It has a market cap of $7.4B
- To restore peg 12.12B - 7.4B = 4.72B of UST needs to be burned
- Terra validators have overwhelmingly agreed that this is what must be done, UST must be burned and peg must be restored
- To burn UST (and restore peg), you need to mint new LUNA
- To burn 1 UST you need to mint $1.00 worth of LUNA
- Let's do some simple math
- Say we can burn all the excess UST all at once right now, and restore peg
- To burn this 4.7B of UST we would need to mint $4.7B worth of LUNA
- At the current price of LUNA ($0.03), this means we would have to mint ~156B LUNA
- In this scenario, the circulating supply of LUNA would increase from 3.5B to ~160B (increase 45x)
- The price of LUNA will decrease to ~$0.0006
- Now you could in theory begin to slowly burn down that 160B circulating supply of LUNA (does this sound impossible and like a terrible investment? IT SHOULD SOUND IMPOSSIBLE AND LIKE A TERRIBLE INVESTMENT)
- The scenario described above is a made up fantasy and is not possible
- What's really going to happen is actually infinitely worse
- First problem: You can't burn all 4.7B UST at once because you can't mint 156B LUNA at once
- There is a limit on how much LUNA can be minted in one day
- Right now, they are voting to increase the limit
- This leads us to problem #2
- Second problem: As you mint LUNA, the price of LUNA goes down (LUNA is diluted), which means to burn more UST, you need to mint even more LUNA, until you descend into a vicious feedback loop of all out LUNA minting madness
- This is referred to by validators and people who understand the protocol as the "death spiral"
- Right now you can burn $1B UST by minting 33B LUNA
- The circulating supply of LUNA goes from 3.5B to 38.5B
- The price of LUNA is now 0.0027
- You then burn your next $1B UST by minting 1,000,000,000/0.0027 = 370B LUNA
- You burned your first $1B UST by minting 33B LUNA. The next $1B UST by minting 370B LUNA
- The next $1B UST would take trillions and trillions of LUNA
- I used $1B chunks just as an example
- Obviously the size of the burns would be much smaller as it depends on UST holders' bags
- The point is, LUNA can't recover unless they just decide to fundamentally change how the protocol works, which would result in Do Kwan and everybody else on the project being instantly indicted for fraud
Crypto Chart Alerts
Bitcoin Weekly analysis: Bitcoin is now testing the last weekly support level and a break below this is extremely bearish. The next good weekly support is $20,000-$22,000 area. BTC needs to hold the $28,000 level at all cost. The weekly resistance is $35…
Yesterday Bitcoin dumped to $26,700 and bounced from there immediately. The weekly structure is still holding. The weekly candle close is very crucial and needs to close above the support level. A weekly candle close above $32,000 shows the strength of bulls and we see some recovery in the market. A candle close below $30,000 will put bears in control and we see sideways movement or downward movement in the coming weeks.
KMD/BTC
Komodo is an open-source technology provider that offers all-in-one blockchain solutions for developers and enterprises.
Technically lying above strong support. RSI is in the oversold region. MACD is showing bullish momentum. It will pump hard from here. so now is the right time to build your position in it before breakout for massive profits😊
Targets: 888-1100 -1400 -1700 satoshi
Komodo is an open-source technology provider that offers all-in-one blockchain solutions for developers and enterprises.
Technically lying above strong support. RSI is in the oversold region. MACD is showing bullish momentum. It will pump hard from here. so now is the right time to build your position in it before breakout for massive profits😊
Targets: 888-1100 -1400 -1700 satoshi
ETH analysis:
ETH kissed the liquidity area and bounced from there. The support is $1700-$1800 and this is the last support. A break below this is extremely bearish and we may see a drop to $1200-$1300 levels (only if the support broke). The first resistance is $2330-$2400 area and we will a test of this area in the coming days. A break above this will give some strength to ETH and we see a move towards $2700.
ETH kissed the liquidity area and bounced from there. The support is $1700-$1800 and this is the last support. A break below this is extremely bearish and we may see a drop to $1200-$1300 levels (only if the support broke). The first resistance is $2330-$2400 area and we will a test of this area in the coming days. A break above this will give some strength to ETH and we see a move towards $2700.
LUNA and UST Completely delisted from Binance
https://www.binance.com/en/support/announcement/f68451879a1841a6a0f44025735d9236
https://www.binance.com/en/support/announcement/f68451879a1841a6a0f44025735d9236
Binance
LUNA & UST Trading Suspended | Binance Support
Fellow Binancians, Binance will suspend spot trading for the LUNA/BUSD and UST/BUSD trading pairs at 08:30 AM (UTC) on 2022-05-13 . Withdrawals for LUNA and UST will open when the network becomes ...
Bitcoin Dominance is rejected from the 44.50-44.60% resistance level. We may see some relief in altcoins for some time. Bitcoin Dominance may test the 42-42.10% support. A break above 44.60% resistance will bring more downfall in altcoins. If BTC stable in a range for some time then we see 20-40% upward movement in altcoins. Don't trade without proper stop loss.
Binance Earn to Cease Support for LUNA and UST
https://www.binance.com/en/support/announcement/74379ffeb1ab482f9c0e6b90674cf245
https://www.binance.com/en/support/announcement/74379ffeb1ab482f9c0e6b90674cf245
Binance
Announcement | Binance Support