LUNA/USDT Spot | S6W1 | Team Trading Contest Post for Crypto-Empires

omsingh11 (64)in SteemitCryptoAcademy • 3 years ago (edited)

I am glad to join Crypto-Empires Team and I will try my level to best to add value to the team and we will win the Contest.

1.) Name and introduction of the project token.

Luna Terra is funded by Daniel Shin & Do Kwon in Jan 2018 is a Korean-based company Terra Labs. The aim of this project is to bring an Opensource Decentralized Stable Coin in the Crypto space which is controlled by its Stakeholders and this is the unique thing about Luna Terra. The Luna Blockchain was Developed in Terra Labs and launched in the market in 2019 for Public sale.

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There are 2 coins in the Terra Blockchain Luna & UST they have some correlation in their price which is controled by the Stakeholders using Burning Machnism. The Terra Blockchain come up with Columbus-5 update in this update whatever fee will be collected on the Transactions will be burned Luna Tokens and because of this update, the price of Luna Increased and still going up. Apart from this they have come up with a solution for the Bride between other blockchains as well like ERC20, Polygon etc and it will increase the adoption of the Luna Terra.

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Luna is a Largecap coin and comes under the Top 10 coins. It has very good volume and a working team who continuously active on Twitter and working for the development of the platform. Luna is listed on all of the Top exchanges like Binance, FTX, Bybit, KuCoin etc.

2.) Why are you optimistic about this Token today, and how long do you think it can rise?

As I have explained after the Columbus-5 update the Usecase of the LUna blockchain is increasing rapidly as it can integrate on other chains and transactions can be on the Miniumum cost. Also whatever transcation cost will be generate will be burned and this is how the Supply is going to decrease everyday and it will lead the possitive growth in Luna Price. Also many Whales have eye on Luna and I am pretty sure this is going to hit 80 usdt in next few months. I am holding a small bag for this coin having 1:2 Risk Reward. The Technical charts are also very impressive which is showing a great buy opportunity that I will be discussing in the next section.

3.) Technical Analysis

I would like to do the Multi timeframe analysis.

LUNA/USDT, 1W
If we look on the Weekly timeframe, then Luna is currently trading on the Golden Pocket 50% retracement area which is a very good buying opportunity. 50% retracement area work as a Major demand zone.
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LUNA/USDT, 1D
On the Daily Timeframe Luna is on the Trend line support and if you will look in the past then it bounced from this trendline many times. Also it is formaing a Triangle and incase of Breakout it can easily hit our tgt which is 80 usdt. I took the trade for 1:2 Risk reward minimum in my Spot wallet.
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LTC/USDT, 1 hr-
On the Hourly Timeframe it formed a Inverse Head and Shoulder Pattern which is a Bullish trend reversal Pattern.
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Since it is a positional Trade so the Stoploss will be on a daily closing basis and we will try to catch a good move around 30-40%.

Entry Price: $52.85
Stoploss: $37 (Daily close below)
Target: $80

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

I have taken this trade on a Positional basis so definitely, I would like to hold this baby till my target which is 80 USD. I am pretty sure it gonna hit the target in the next 1-2 months timeframe which is a short-term target and in the long term if BTC made a massive move or make new high then 100 usdt for Luna is nothing. Currently, I am in a profit of 10% as you can see in the above chart and in my portfolio. When I bought the worth was 9.5 usdt and now it is 10.30 usdt which is around 10% growth so far.

5.) Do you recommend everyone to buy and the reasons for recommending/not recommending

Yes, Luna is one of the strongest project in the Crypto Space having great fundaments so if anyone want to hold it for long term or even wan to buy for Short term they can. I am sure it won't dissapoint also there is are many whales keeping eye on this coin which may lead to a massive move in a short period of time.

6.) Anything else you want to share about the token/project.

The community behind this project is very strong and the devlopers has very good background like one of the Foudning member worked on Microsoft and the Stakeholders are institutations and big whales. This project in already in top 10 with Market Cap in billion. Here is some of the information about the project.