- Data from Santiment suggests LUNA’s on-chain development activity significantly increased.
- EMA ribbon continues to be bearish and serves as a flexible resistance.
The Terra Rebels are a group with the mission of restoring Terra Classic’s natural environment.
A community member going by the handle Architect123 recently provided an update on the most recent changes to the ecosystem on Twitter.
What Will The TerraDart Package Do
According to the tweet, the TerraDart alpha package would enable dApps to communicate with the LUNC blockchain while operating in a Flutter or Dart environment.
The software development kit would make the process of creating dApps on-chain more efficient.
According to data from Santiment, LUNA’s on-chain development activity has significantly increased as a result of this recent modification. However, metrics and technological specifics suggest that the ecosystem has a gloomy future.
LUNA Bearish technical indicators
One coin now costs $1.5807. Despite the price being at a green candle, the regression channel’s Pearson’s R is 0.6221, which signals significant bearishness. This suggests that prices will probably drop.
However, the RSI’s positive crossover suggests some optimism. The data are also improving, which supports the development of a price fall. A slight uptick is confirmed by the MACD indicator, which is getting close to a bullish crossing.
A retreat would not, however, be adequate for a full recovery. The EMA ribbon continues to be bearish and serves as a flexible resistance. Investors and traders should pay attention to the $1.5457 support because it is what is supporting the current decline.
The Bollinger band is also forming a crunch zone in the coming days, which would be still another barrier to a full recovery.
In November, LUNC burn rate decreases by -49%.
According to data from Terrarity.io’s LUNC Burning Chart, the burn rate for LUNC decreased by -49% in November over October.
The number of LUNC burned decreases from an October high of 18.8 billion to 9.2 billion in November.
This decrease demonstrates the effect of the LUNC community’s vote to lower the burn tax from the initial 1.2% to 0.2% on LUNC trades. Voters approved setting aside an additional 20% of all burn funds for environmental improvement.
On Developments And Price Movement, Terra
Investors should sell their bitcoin, per TradingView’s technical analysis, because a collapse is unavoidable.
A big decline in LUNA’s MFI value, which suggests that the current upward price trend will be prone to a swift reversal, further supports this.
Undoubtedly, the latest happenings have an impact on LUNA’s price. Sadly, this is not enough to reverse the negativity around the asset. With a Sharpe ratio of -4.34, Messari indicates that the returns on LUNA are either close to zero or negative.
In the current extremely unfavorable market environment, a short position following a bearish breakdown at $1.5457 would be advantageous for traders and investors.