Terra’s new governance alert bot could trigger a 30% LUNA price move – FXStreet

John Isige John Isige

Terra price is attempting a recovery after bulls overwhelmed bears at support established around $1.52 earlier on Monday. Bulls eye liftoff to $1.80, but a technical projection based on the governing chart pattern may stretch the breakout 30% higher to $2.11.
Stakeholders behind Terra, a blockchain platform powered by LUNA, are working around the clock to stabilize the embattled token – in a bid to attract investors for a positive shift in price. Frequent software updates and new programs and applications confirm the team’s efforts.
On Monday, Terra’s team announced via Twitter the launch of a new governance bot designed to keep users up-to-date with the latest governance activities in the ecosystem. The bot will send notifications when a new post has been published “on the Governance and Proposals section of Agora” and when a new proposal advances into the voting period on the Terra Station.
Terra’s governance bot will also send an alert 48 hours before the proposal voting deadline and another notification when the proposal voting period ends – and the results are out.
Terra price is nurturing a bullish trend reversal at $1.62, with demand for the token expected to increase as the Moving Average Convergence Divergence (MACD) sends a buy signal. Traders should closely follow the position of the 12-day Exponential Moving Average (EMA) above the 26-day EMA to corroborate its anticipated move past the double-bottom pattern’s neckline.
LUNAUSD price chart
LUNA/USD four-hour chart
A double-bottom pattern occurs after a drawn-out downtrend and is characterized by two valleys (bottoms). These two troughs represent an area with an immense concentration of bulls – explaining the projected upside move. The price must, however, break above the neckline, at the high of the peak separating the two troughs, to affirm further movement – 20% in the case of Terra price.
On the other hand, caution must be exercised to avoid bull traps. Early profits can be taken at the 50-day Simple Moving Average (SMA). If Terra price cracks through neckline the resistance at $1.88, there may be enough technical backing to hold on till $2.11.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Bitcoin price has been on a rollercoaster ride since June 18. The most recent yet explosive run-up has hit targets mentioned in our previous publication. 
Post the successful completion of Ethereum’s Merge and a recovery of the crypto ecosystem’s market capitalization, Shiba Inu is on track to recover from its losses.
Ethereum Classic (ETC) defaults on some very important levels in the aftermath of the software upgrade to crypto bigger brother Ethereum. 
Binance Coin (BNB) price is popping higher while most other cryptocurrencies are on the back foot, unable to recover from the intraday melt-down on the back of Ethereum’s Merge.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.