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Terra (LUNA) at risk of 50% drop if bearish head-and-shoulders pattern plays out -Breaking


(LUNA) may fall to nearly $25 per token in the coming weeks as a head-and-shoulders (H&S) setup develops, indicating a 50% price drop, AccordingCRYPTOPIKK has shared technical analysis.

H&S patterns appear when the price forms three peaks in a row, with the middle peak (called the “head”) higher than the other two (left and right shoulders). At a “neckline”, all three peaks meet at the top.

Daily price chart. Source: TradingView
Weekly chart of LUNA/USD prices. Source: TradingView
Daily chart of LUNA/USD prices TradingView