If you are following the Luna fiasco, it seems almost impossible to keep up with everything that has happened so far. Here is a quick update for you:
The Luna symbol that is trading below $0 is now called Luna classic (LUNC) and the new Luna 2.0 is trading with the symbol (LUNA).
It looks like the troubles are far from over for the Terra team as the new listing has not had the best start. There were problems with the airdrop as numerous investors did not receive the new tokens even after being eligible for the airdrop.
LUNA’s Price Action June 2022
Luna’s price has plummeted by over 70% from its listing price of $17.80, which shows that the crypto community is still lacking trust in the project. Luna was trading at $5.30 on Monday, which is extremely close to the crucial demand zone at $4.50.
Investors must maintain caution and wait for Luna to show signs of reduced volatility, as it is experiencing huge rallies and drops, which could be risky for investors. It has formed an important support level at $4.50, which if broken could take Luna to the previous low at $3.40
At the moment, Luna is not showing any signs of bullish sentiment, so investors should refrain from any fresh buys. A break of the supply at $6.50 could be the sign of the bulls’ returning. Thus, a close above $6.5-should be seen before any fresh buys.
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