LUNA (Terra) up 34.84% in 24 hours

According to Gate News Bot on December 09, citing CoinMarketCap data, as of press time, LUNA (Terra) is currently trading at $0.14, up 34.84% in the past 24 hours, with a peak of $0.16 and a low of $0.07. The 24-hour trading volume has reached $147 million. The current market cap is about $98.8 million, an increase of $2.55 million compared to yesterday.

Recent key developments for LUNA:

1️⃣ Expectations of SBF Pardon Drive Risk Asset Recovery The market has developed expectations regarding the potential pardon of FTX founder SBF, triggering a general rebound in risk assets. LUNC and LUNA, both of which have experienced major crises, have seen gains exceeding the overall market, reflecting investors’ renewed evaluation of historically troubled projects amid improved risk sentiment. This linkage effect demonstrates the key role of shifting market sentiment in driving sector rotation among major assets.

2️⃣ Technical Divergence Pattern Signals Rebound On-chain data shows a divergence between the short-term behavior-weighted trend signal (BWTS) pattern and price. Historically, such a pattern often indicates the gradual clearing of panic selling and sets the stage for a rebound. While a similar pattern appeared after the Luna crash in 2022 but ultimately evolved into a deep bear market, the current BWTS divergence pattern has not been broken, suggesting rebound momentum still exists. This has technically supported LUNA’s rapid rebound from a low of $0.07 to $0.16.

3️⃣ Long-Term Market Caution and Divergent Perceptions over Historical Events Ongoing industry attention and warnings about the LUNA incident show the market still remembers the risks of this project, but the recent price increase indicates some investors still hold expectations. This split in market perception may lead to continued volatility for LUNA in the short term, with the price easily influenced by external sentiment swings.

From a technical perspective, LUNA has already broken through previous resistance, and the 24-hour trading volume climbed to $147 million, indicating a significant increase in market participation. However, considering its historical volatility and market divergence, investors should remain cautious.

This news does not constitute investment advice. Please be aware of market volatility risks when investing.