LUNA Shows Impressive Strength
LUNA, the token of the Terra blockchain, has continued to impress me with its' strong action. I was first drawn to LUNA due to its' superb relative strength as well as its' beautiful base. After highlighting it last week, I opened up a position as it cleared the $96 level. I will be closely monitoring LUNA in the coming weeks for an opportunity to add to my position. My ideal scenario would be a breakout above the $100 level with massive volume coming in.
The Terra blockchain aims to create stable coins. This combines the freedom of cryptocurrencies with the stability of fiat currencies. With all the uncertainty in the world, especially in Eastern Europe, it is definitely understandable why the Terra network is gaining attention. This could potentially lead to higher prices in LUNA. Let's hope its' upward trend continues.
Risk right. Sit tight.
To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page. Full disclosure: I currently own Luna, Bitcoin, and Ether.
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