LUNA Classic Price Prediction: A second opportunity to short LUNC’s 50% crash
The price of LUNA Classic continued to drop over the weekend, but things seem to be reversing this week. As the new week’s Asian session kicks off, investors can expect a minor rally that will provide a better entry for the ongoing bearish move.
The price of LUNA Classic created a head and shoulders pattern between September 26th and October 10th. However, the selling pressure on October 10 led to a drop, triggering a 50% decline.
The head and shoulders configuration provides for a 50% drop, determined by measuring the distance between the peak of the head and the valley that follows. Adding this metric to the breakout point at $0.000290 shows that the target is $0.000220.
Both of these things must happen for Bitcoin price to go bullish
Bitcoin price shows clear consolidation over the weekend with no volatility. However, with the Asian session waking up, things might start to get a little dicey as BTC lingers after a bearish move.
Bitcoin’s price action between September 13 and October 10 created a bearish flag, which is a bearish continuation pattern. However, on October 10, the bears won the month-long struggle and broke through said pattern, creating a daily candlestick close to the pattern.
This bearish movement, combined with the announcement of the Consumer Price Index (CPI) on October 13, sent the price of Bitcoin down 7.7% to $17,917. However, the recovery was quick, causing BTC to end the day on a bullish note.
Shiba Inu owners get optimistic as Shiba Eternity rating climbs on Play Store
The trading card game in the Shiba Inu ecosystem, Shiba Eternity, received a user rating of 4.9 out of 5. This places the game in the list of top games on the Play Store. Analysts maintain their bullish outlook on Shiba Inu.
Shiba Inu owners are bullish on the meme coin
The Shiba Inu Trading Card Game launched worldwide on October 6. Since then, the game has been downloaded over 100,000 times and received a 4.9 rating from 11,500 reviews on the Android Play Store.
Shiba Inu has become one of the most popular meme pieces and recently added over 100,000 new SHIB holders. The game allows users to choose from 10,000 Shiboshi heroes and 500 trading cards, among others. Proponents believe that the popularity of Shiba Eternity will likely lead to the adoption of SHIB.
