Terra Luna Value Drops 23% Following Do Kwon's 15-Year Prison Sentence for $40 Billion Stablecoin Fraud
Do Kwon Sentenced: Do Kwon, co-founder of Terraform Labs, was sentenced to 15 years in prison for a $40 billion fraud that led to the collapse of the Terra Luna ecosystem, with the judge describing it as a fraud of "epic, generational scale."
Terra Luna Price Movement: Following the sentencing, the price of Terra Luna (LUNC) dropped 23%, trading at $0.00004581, despite a recent 40% gain over the past week due to speculation surrounding Kwon's sentencing.
Technical Analysis: The LUNC price is currently within a falling wedge pattern, with potential resistance at $0.0001220 if it breaks out, while support is seen at $0.000024 if it continues to decline.
Market Indicators: Technical indicators show mixed signals, with the Relative Strength Index (RSI) hovering around neutral and the Moving Average Convergence Divergence (MACD) turning positive, suggesting a possible recovery for Terra Luna.
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Technical Analysis for LUNA
Technical Sentiment Analysis for Terra (LUNA) As of , Terra (LUNA) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 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 | 0.0266 | 0.0394 | 0.0525 | 0.0653 | 0.0784 | 0.0912 | 0.104 |
| Fibonacci | 0.0394 | 0.0493 | 0.0554 | 0.0653 | 0.0752 | 0.0813 | 0.0912 |
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