Terra’s Luna Classic price has portrayed significant countertrend strength in recent days. The bulls may be setting up for a 20% rally to challenge December’s monthly high. Terra’s Luna Classic price should remain on day traders’ watchlists for the weeks to come.
FTX collapsed and filed for bankruptcy almost two months ago, but the impact of the fallout continues to suppress the crypto market. To add to that, the co-founder of the bankrupt exchange seems to be extending this influence. Since January 1, LUNC price rose by 16% before bears stepped in and reduced the profiting rally to 8%.
Ethereum price has been trading within a 6% range for several weeks. On-chain analysis shows the weekly volatility at its lowest in six years. Using the weekly volatility indicators correctly could improve investors’ opportunity costs in 2023.
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