LUNA’s price is moving sideways, showing a crucial buy signal

  • LUNA’s price is at a tipping point and is poised to rise to $ 2.60.
  • Terra announces plans to develop curated data and analytics dashboards.
  • If LUNA’s price fails to break out of a key descending trend line, the trade will be between $ 2.00 and $ 2.20.

The price of LUNA varies between a rock and a hand after its rejection starting at $ 2.60. The immediate upside of the token is limited by immense seller congestion at $ 2.20, while on the downside, the price of LUNA rests on strong support set at $ 2.00. Meanwhile, a buy signal presented on July 28 suggests a break to the upside north of the current market price of $ 2.15.

Earth for creating organized data and analytics dashboards

Terra 2.0, the LUNA-powered blockchain, announced on Wednesday via Twitter its plans to develop analytics dashboards and curated data through a platform called MetricsDAO. Educational content and token reward programs, which allow entrepreneurs to raise money from investors to launch new coins, will also be featured on consoles.

A blog post published by MetricsDAO shed light on the fact that Terra 2.0 is in a crucial phase of maturity and growth and must promote transparency on the chain, touching on analysis and user acquisition. The dashboards will allow the Terra blockchain to be interrogated by developers and analysts.

MetricsDAO is responsible for curating the data and using it on Flipside Crypto, a platform that offers an SQL query editor, API, visualization studio and SDK, all free for all users.

Some expected outcomes of this development are access to free and open data, curated educational content, community accountability, bonuses, and marketing materials.

While LUNA’s pricing may seem stuck in a tight range, the development team is taking steps to fix the network’s outward image. If these efforts bear fruit, LUNA’s price will gain momentum while benefiting from renewed investor interest.

The buy signal of the LUNA price is holding up

The Super Trend indicator turned green on July 28th after sending a buy signal. Traders who answered the call saw rapid gains as LUNA’s price jumped from $ 1.75 to $ 2.60.

Now, the price of LUNA should return to the same highs based on the momentum indicated by the Super Trend indicator. A break above the downtrendline will confirm the bulls’ influence, leading to gains of up to $ 2.60.

LUNA / USD four-hour chart

While things may look positive for the LUNA price, traders should consider taking profits at $ 2.40. All factors considered, the bear market is still relevant. On the downside, the break of the 50-day SMA support at $ 2.00 could see the price of LUNA plummet to $ 1.75 and $ 1.65, respectively.

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