LUNA/USDT-SELL| S6T4 - Team Trading Post for Team- Frontlines

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INTRODUCTION TO THE TERRA BLOCKCHAIN (LUNA)
The Terra blockchain is a decentralized blockchain created specifically with the aim of creating a stable coin backed by the blockchain native token the luna token, the blockchain was founded in 2018 and its mainnet was launched in April 2019 by Do Kwon and Daniel Shin.
The founders of the Terra blockchains saw how unstable the blockchain in general was and how volatile the all other cryptocurrencies dip and rise very often, this was a major barrier to making cryptocurrency adopted all over the world as the goal was to replace conventional fiat with DEecentralised finance, the terra blockhain was created to reflect or mirror real world fiat, stable coins in the terra blockchain have thier value pegb ged to real world dollar or south korean won e.t.c
The Terra had an initial coin offereing and offered up top 14% of it asset up for sale and under ERC-20 standard, it had a fundraising goal of 10,000,000US Dollar with an initial price of 0.8US dollar per token.
The Terra blockchain has its native token to be the luna token which can be used to paticipate in the network governance, the Luna token was incentivised to encourage holders of of the token who can swap between the native token and stable coins and earn profit from price flutuations and also staked to earn rewards, the luna token and the ecosystem's stable coins are mutually indeppendent when demand for one rises abive the other one is burnts to meet asset's demand and vice versa.
Terra's native token LUNA provides liquidity to the Blockchain which in turn helps the Terra's Stable coin maintain its stability, (LUNA IS NOT A STABLE COIN). The Terra platform has stable coins such as

• TERRA UST ( pegged to 1 USD)
• TERRA KRT ( pegged to Korean won)
• TERRA SDT ( pegged to 1 USD)

LUNA TOKENOMICS

The terra blockchain was initially launched and sold in its ICO with i a value of 0.8$ but has experienced exponential growth to a value currently worth 107.412 as of 1st of April 2022, the token has seen its peak value yet at a value of $104.58 on the 9th of march and its lowest value at $0.1201. The Luna token is ranked #9th among the world cryptocurrency list with a fully diluted market cap of $68,008,033,347.56 and a 24hr trading volume of $844,816,971.66, a circulating supply of total of 356,369,410 LUNA and a total supply of 753,529,966 LUNA.

WHERE TO PURCHASE LUNA FROM

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Why are you optimistic about this token today, and how long do you think it can rise?

For this trade i am not going to be making a buy trade so i didn't really focus on uptrend or do any analysis to see if the coin is currently going to rise any further than it already has done this past couple of week, I entered a short trade. I noticed the coin has gotten to an all time high of over the past few months at a price of 113$ and usually the coin was bouncing back and forth between the support price of 98$ for today,i did my T.A and determine a sell order would be my best bet in this case.

ANALYSIS

For our asset analysis, we would be making our entry with the same Median + RSI strategy, our first entry signal would be seen from the RSI then we would take our confirmation from the median indicator on a 15 minutes time frame

Our asset 24hours range is seen between 98$-108$ and i will be making my short order when my confirmatory signal is perceived from the

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Our confirmation signal came a little later but non the less to minimise loss from trading with this strategy one has to patiently wait for confirmation before entering trade
My entry was made at 107.40, since i am aiming high and very confident in my analysis i set a take profit at around 60% and stop loss at around 60% also currently i am above 20% and am very confident my Take profit will be met in no time, the take profit to stop loss ratio was 1:1 and i made my entry with 25% of my asset at 7$ with a leverage of 15X.

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Your plan to hold it for a long time or when to sell?

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As a scalp trader the Technical analysis I performed on this coin was done in a short time frame which suggests that I will not be holding this coin for a very long period or duration. The coin was initially traded just to attain profit and close trade. Although the coin trend was in my favor I had to close with intended profit and exit the trade

WOULD YOU RECOMMEND THIS COIN

Absolutely yes, the luna token has shown a very promising future the token has been seen to be bullish for quite some time now and the blockchain has shown promise, the blockchain is very incentive and luna is at the heart of it. Overall i would strongly recommend the luna token.

CONCLUSION

Ussually i recommend we stick to our take profit an loss while trading but we also have to be dynamic about things like that so we don't end up in loss, My take profit was initially at a 60% but i settled for a 39% profit today cause my indicator showed a trend reversal signal and i had more than enough profit so i decided to close my trade at 39%. Thanks to professor @abdu.navi03 for this spectacular working strategy