Technical Breakout Shapes LUNA Market Narrative
LUNA is emerging from a lengthy falling-wedge pattern, a structure observed on the LUNAUSDT 1D chart shared by Captain Faibik. The pattern formed across an extended downtrend, showing gradually weakening sell pressure throughout 2023 and 2024. The breakout occurred as price moved above the upper trendline with a clear impulse, signaling renewed momentum after months of compression.
The lower boundary of the wedge served as a demand region during its formation. Each contact with that level produced a reactionary rise, suggesting active accumulation. The breakout candle displayed firm intent, reinforcing the validity of the pattern and prompting discussions of a potential expansion phase. A projected upside zone of about 180% was noted as a typical extension based on classical measurement techniques.
Market Data Shows Strong Activity and Rising Volatility
CoinGecko data as of writing captures a notable shift in trading behavior. LUNA is currently trading at a price of $0.1143 following a price movement that saw the asset rise by approximately 40% in the last 24 hours, a development that propelled the asset out of the under $0.09 region to the $0.12 zone. The intraday chart recorded sharp upward motion paired with visible volatility.
Trading volume reached about $259.7 million during the period, surpassing the $78.5 million market cap by a wide margin. This volume-to-cap ratio reflected intense speculative flow. Circulating supply stood near 687 million tokens, with total supply above one billion. The absence of a maximum supply cap presented additional considerations for long-term evaluation, while short-term traders focused on liquidity and volatility.
Legal Proceedings Add Context to Market Sentiment
According to a report by David Shares, U.S. federal prosecutors were pushing to give Do Kwon a 12-year jail term after he pleaded guilty to the charges related to fraud. His legal team asked for approximately five years because of his prior arrest in Montenegro and unresolved issues in South Korea. The update drew renewed attention to events tied to LUNA’s history.
The news introduced another element influencing sentiment. The Terra collapse remains one of the most widely discussed failures in the digital-asset industry. As legal outcomes evolve, market observers continue tracking how events intersect with trading behavior and broader reactions surrounding LUNA’s recent price performance.