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Is Terra (LUNA) Done Correcting After 93% Decrease In Three Days?

Mohak Agarwal

-LUNA has been falling sharply since May 9 and has so far reached a low of $4.12.
-The decrease was preceded by bearish divergence in the weekly RSI.
-Currently, it is trading inside the $6 horizontal area, which has not been reached since June 2021.
-The daily chart shows no clear bullish reversal signs.
-However, the daily RSI is the most oversold it has ever been, reaching a low of 15.
-Similarly, the two-hour RSI reached its all-time low of 9 on May 10, and is now possibly generating some bullish divergence.
-The wave count suggests that LUNA is mired in a very steep five-wave downward movement, of which it is in wave three (black).

terra luna .png Is Terra (LUNA) Done Correcting After 93% Decrease In Three Days?
Is Terra (LUNA) Done Correcting After 93% Decrease In Three Days? 2
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