LUNA (Terra) rose 19.53% in 24 hours

Gate News Bot news, on December 10, according to CoinMarketCap market, as of press time, LUNA (Terra) is currently trading at $0.15, up 19.53% in 24 hours, reaching a high of $0.18 and a low of $0.07, with a 24-hour trading volume of $357 million. The current market capitalization is approximately $108 million, an increase of $17.6 million from yesterday.

LUNA recent important news:

1️⃣ SBF amnesty expectations trigger a recovery in risk assets The market has anticipated the potential possibility of FTX founder SBF receiving an amnesty, which in turn has driven a general rebound in risk assets. LUNA, a currency that has experienced major crises, has outperformed the overall market level, reflecting investors’ reassessment of historically difficult projects in the context of improved risk sentiment. This shift in market sentiment has played a significant role in driving the rotation of major asset classes and has become a significant catalyst for LUNA’s recent rally.

2️⃣ Technical divergence patterns provide rebound support On-chain data shows a divergence from the price of short-term behavior-weighted trend signal (BWTS) patterns, which have historically meant the gradual clearing of panic orders, creating conditions for a rally. The current BWTS divergence pattern has not been broken, indicating that the rebound momentum still exists. LUNA’s rapid rebound from a low of $0.07 to a high of $0.18 is a reflection of this technical support. The 24-hour trading volume rose to $357 million from $147 million the previous day, indicating a significant increase in market participation and validating the rally’s establishment.

3️⃣ Market perception divergence causes price fluctuations The industry’s ongoing warnings about LUNA’s historical events diverge from the expectations of some investors, with market participants clearly diverging in their views on the project. This inconsistency in perception may lead to LUNA continuing to show high volatility in the short term, and the price is susceptible to external sentiment changes and expected adjustments. Despite major setbacks, the current price rally indicates a phased increase in investor risk appetite.

From the perspective of market performance, LUNA has broken through the previous pressure level, and the trading volume has risen sharply, indicating the heating up of the market’s bullish sentiment. However, given its historical volatility and market vigilance against project risks, investors still need to remain cautious and pay close attention to subsequent fundamental trends.

This news is not intended as investment advice, and investment should be aware of the risk of market fluctuations.