Terra's LUNA Tumbles, Why This Could Be Bad For The UST Stablecoin

Terra's native token LUNA slumped over the past week as a broader downturn in the crypto market hit the token particularly hard. It is the among worst performing tokens among the top-10 cryptocurrencies in the past week.

Timeline of Terra-luna, Terrausd

Since reaching an all-time high of $119.55 on April 5, Terra (LUNA) has been declining. On April 18, the coin hit a low of $75.67. Since then, the price has risen. Above the $102 region, the all-time high and subsequent decrease have created a bearish divergence. LUNA was predicted to confirm the $102 area as …

The Terra (LUNA) price finds a surge in buying pressure, resulting in an upside breakout of the falling wedge pattern in the 4-hour chart. Moreover, the morning star pattern increases the chances of a sustained uptrend reaching the psychological barrier of $100.