Analyst Gives Urgent Warning: Cash in LUNA Gains
The LUNA price posted huge gains as the wider crypto market rose on Friday last week. With investors delighted, analysts have issued a stark warning: take LUNA profits off the table.
Attracted by the truly incredible benefits available via their Gold, Platinum and Diamond VIP scheme, investors have flocked to the project.
Will Luna Be A Good Investment in 2023?
The market is still in the middle of an extended crypto winter. With the lack of solid fundamentals to focus on, traders are creating their own pump-and-dump schemes to keep prices moving.
The overall crypto market saw a major jump on Friday as major coins like Bitcoin and Ethereum broke out above their resistance levels. The Terra Luna Classic (LUNC) coin and Terra (LUNA) have also been the centre of investors’ attention this week.
But optimism on LUNA is starting to die down. The coin has lost traction after peaking at $7 on Friday with a 200% gain, with the LUNA price retreating since.
Industry experts have suggested cashing in on any LUNA gains before the price drops, with a huge number of investors selling. Projects such as The Hideaways (HDWY) are currently only in presale phase, with investors having a huge opportunity to get in early. At a price of $0.01, traders are stocking up on HDWY as the project looks to break the multi trillion-dollar luxury real estate market.
Terra LUNA Technical Analysis
Terras LUNA climbed to $7 on Friday for the first time since Terra Labs distributed the first LUNA airdrop in late May. The coin recorded a 200% increase in 24 hours, with a trading volume of $3 billion on Friday.
LUNA is back in the top 100 cryptocurrencies after reaching a $900 million market cap. But the lack of reason to keep the prices pumping pulled LUNA back to $5. As of the latest charts, the coin is trading at $6.0 - a level that’s proving to be a hard resistance to crack.
There are a number of reasons why analysts do not think now is the best time to hold LUNA. First, its Relative Strength Indicator (RSI) is at 90.0 which shows the coin is in the extremely bought territory. Second, 20-day EMA and 50-day EMA are not hinting at a bullish crossover any time soon.
LUNA Will End the Year at $2
The lack of technical strength shows that LUNA’s recent price hike is just another pump-and-dump scheme. We see a price correction taking place once sellers start moving. LUNA will fall to the first support line found at $2.6 before bears take it lower to $1.80. In a bullish scenario, buyers might sustain the price to their $10 target and take their profit from this level.
The most realistic run LUNA could make this year is $2. Unless Terra comes up with a clever plan to give its coin some real-world utility. But we don’t want to keep hopes on this. It’s not easy to forget the collapse of Terra LUNA and TerraUST (USD) that wiped $40 billion off our pockets this year.
The Hideaways VIP scheme pulling in investors
The Hideaways (HDWY) is a new cryptocurrency platform that is in its presale, with the price about to rise 100% from $0.01 to $0.02, rewarding early investors with 100% gains in its first week.
The Hideaways is attracting investors thanks to the rewards offered through their Gold, Platinum and Diamond membership tiers.
With investments of $10k, $20k or $50k, investors can benefit from benefits such as a free 2 week 5* holiday with flights paid for, an annual free private jet flight, access to off market property development deals, a $50k per year global concierge service and much more.
In addition to this, HDWY holders will receive rental income and staking income every month. The HDWY token is widely expected to gain 100% this week, with the momentum expected to take this project to upwards of 4,000% gains in 2022.
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