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LUNA/USDT Looking Good For a Bounce Back to Supply Zone 🚀

Luna / TetherUS BINANCE:LUNAUSDT

MyCryptoParadise_Simon

💎The recent market activities for #LUNAUSDT have caught our attention. Currently, LUNA is finding footing at a support area, highlighted by a bullish rejection candle, signaling possible upward movement.

💎This setup suggests a bounce could be imminent, propelling #TerraLuna towards higher resistance targets. The presence of this bullish candle at support hints at a strengthening of momentum, potentially steering the price toward notable resistance levels.

💎Conversely, if LUNA struggles to sustain this support or the bounce falters, it may point to a weakening of bullish forces. A drop below the support level could usher in a bearish phase, emphasizing the need for vigilance.

💎Monitoring #LUNA's response to this support zone is crucial. We need to watch closely for either a confirmation of the bullish trajectory or signs of a reversal to bearish trends. Stay alert, Paradisers, as these market shifts unfold.

MyCryptoParadise
iFeel the success🌴

Originally posted here: https://ift.tt/LJswT0N

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Do Kwon and Terraform Labs Found Guilty of Misleading Investors

Luna / TetherUS BINANCE:LUNAUSDT

DEXWireNews

The recent civil fraud trial in the United States has found Do Kwon and Terraform Labs liable for misleading investors prior to the UST stablecoin collapse in 2022. The US Securities and Exchange Commission (SEC) had charged Kwon and Terraform Labs of falsely leading investors about the stability of TerraUSD, the network's stablecoin also known as UST. The UST stablecoin was designed to maintain a value of 1:1 against the dollar. The SEC also accused the defendants of falsely claiming that Terraform's blockchain was used in a popular Korean mobile payment app. The jury, after a two-week trial, agreed with the SEC's allegations and found the defendants guilty of civil fraud charges on Friday.

The TerraUSD and Luna collapse caused a cryptocurrency market crash in 2022, which resulted in several companies going bankrupt. The collapse was severe enough that it sent shockwaves throughout the industry, leading to the arrest of Terraform Labs founder, Do Kwon, in Montenegro in March 2023.

Following the verdict, a spokesperson for Terraform expressed disappointment and stated that the company would weigh its options. However, the SEC, through its Division of Enforcement Director Gurbir Grewal, emphasized the importance of compliance and registration in the crypto markets. According to Grewal, the lack of compliance and registration has real consequences for investors.

US District Judge Jed Rakoff is expected to determine the penalties in the coming weeks after hearing from the SEC and the defendants. Terraform will be able to challenge the ruling on appeal after the final judgment in the case.

Originally posted here: https://ift.tt/gUjoh8k

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LUNA/USDT upward momentum from support? 🚀LUNA Today Analysis

Luna / TetherUS BINANCE:LUNAUSDT

MyCryptoParadise

💎 Paradisers ,keep an eye on #LUNAUSDT as it’s currently in motion. The price is approaching a key support level at $0.9163. If it maintains momentum at this level, we could witness a bullish reversal. The sustained upward movement aims to target the major resistance at $1.4997.

💎 However, let’s be prepared for market fluctuations. Should #LUNA encounter obstacles at the aforementioned resistance, it might be prudent to reconsider our strategy. On our radar is a bullish recovery from the support zone around $0.8014, where the price has previously found stability.

💎 Caution is crucial! A breach below this critical support level could signal a shift toward a stronger bearish trend, potentially leading to increased selling. As we navigate the changes in the #LUNA market, staying vigilant and adaptable is paramount.

Originally posted here: https://ift.tt/wSrUxeo