@BOMBERuss 12 April 2022 more from that month

#Terra: A headache for those who like to trade breakouts. LUNA/USD has formed a bearish pattern of unsuccessful resistance breakout. In a pair to BTC, the breakthrough is still in force. The pair against the dollar paints a gloomy picture. With all the popularity and general dominance of Terra in the information field of the crypto market, this was not enough to successfully complete the breakthrough in LUNA/ USD. And the update of the record high that preceded this bearish pattern only hurts more. This reminds us of the movement of bitcoin above $ 60 thousand. The structures are very similar: breakout, record high, lethargy, failure below the breakout level and decline. A weekly close above $100 would be a good sign of a reversal and would suggest that #LUNA may not share the fate of BTC/USD after such an unsuccessful breakthrough. In the absence of such a recovery, we expect a decrease to the minimum of the range ($43). For short—term traders, it may also be worth noting the mid-range level of $62-69 (not shown on the chart). The pair to #BTC did not follow the LUNA dollar rate, which is probably a positive sign. However, an unsuccessful breakout in LUNA/USD is a strong signal, and this asset no longer looks attractive to us until the exchange rate recovers above resistance or reaches support.