As the stable currency USDT continues to conquer cities on and off the chain, and the “Columbus-5 upgrade” clarifies the expectation of multi-chain assets brought by the September launch and the Wormhole cross-chain bridge, the Terra ecology has recently received extensive attention from the market again.
Just few months ago, on July 7th, 2021, Terra announced the launch of a $ 150 million ecological fund, which will be used to sponsor projects built on the Terra ecology, thereby promoting Terra into the next stage of development and enhancing its ecological projects. Accessibility for mainstream adoption.
As the token for Terra ecological governance, pledge and verification, the price of Luna has also soared, and both the market value and the circulation rate are very satisfying.
From the perspective of the weekly level, it is not difficult to find that Luna is still in a strong area, and even reached the mid-level buying point. It can be said that the ETH and BTC smashing is more to bring the deviation rate of LUNA back. This is instead an opportunities outweigh risks.
Let’s look at the 1-hour level again. The price has returned to the half-year line and has been oscillating and accompanied by heavy volume. This instead indicates that there is a gradual establishment of funds. The rebound may not come particularly fast, but it is a very good opportunity to break below. The semi-annual line is the benchmark. If it falls below the semi-annual line and cannot be pulled back within 2 days, it means that this wave of market needs to weaken first. We leave the market and wait and see.
The second way is to wait for the breakthrough 36 level to stand firmly, and then we enter the market and wait for the market to accelerate.