Elixir Stablecoin Ceases Operations Following $93M Loss at Stream Finance
Collapse of deUSD Stablecoin: Elixir's deUSD stablecoin was discontinued following Stream Finance's $93 million loss, leading to significant disruptions in the DeFi markets and affecting various protocols and assets.
Systemic Vulnerabilities Highlighted: The incident has exposed critical vulnerabilities within DeFi protocols, prompting urgent calls for improved risk management and transparency in fund management practices.
Market Turmoil and Liquidity Issues: The collapse resulted in severe liquidity outflows and sharp declines in the value of affected stablecoins, with Elixir's deUSD reserves experiencing a 65% downturn.
Comparison to Terra Luna/UST Collapse: The situation is being likened to the Terra Luna/UST collapse, indicating interconnected risks in DeFi systems and suggesting potential regulatory changes and increased due diligence in the future.
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Technical Analysis for LUNA
Technical Sentiment Analysis for Terra (LUNA) As of , Terra (LUNA) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for LUNA stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, LUNA is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Terra (LUNA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.028 | 0.0401 | 0.0522 | 0.0643 | 0.0764 | 0.0885 | 0.101 |
| Fibonacci | 0.0401 | 0.0493 | 0.0551 | 0.0643 | 0.0735 | 0.0793 | 0.0885 |
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