Gate News Bot message, December 11th, according to CoinMarketCap market data, as of press time, LUNA (Terra) is currently trading at $0.21, up 39.42% in the past 24 hours, with a high of $0.25 and a low of $0.07. The 24-hour trading volume reached $703 million. The current market cap is approximately $150 million, an increase of $42.6 million from yesterday.
Important recent news about LUNA:
1️⃣ SBF pardon expectations continue to drive risk asset rotation
Market expectations of the potential pardon for FTX founder SBF have triggered a significant rise in historically distressed assets represented by LUNA. As a coin that has experienced major crises, LUNA’s gains have continuously outperformed the overall market, reflecting a phased improvement in investor risk sentiment. Under these expectations, LUNA has climbed from $0.14 on December 9th to the current $0.21, an increase of over 50%, demonstrating the strong market attention risk assets are regaining.
2️⃣ On-chain technical divergence pattern supports rebound momentum
The Short-term Weighted Trend Signal (BWTS) pattern shows divergence from the price trend, which often indicates a gradual clearing of panic selling. Currently, the BWTS divergence pattern has not been broken, indicating that rebound momentum still exists. LUNA quickly rebounded from a low of $0.07 to a high of $0.25, with the 24-hour trading volume soaring from $147 million to $703 million, an increase of nearly 380%, confirming the validity of this rebound and a significant increase in market participation.
3️⃣ Market heat ranking rise boosts attention
LUNA ranked among the top three in the past 24 hours’ hottest list, coming in third, only behind newly launched tokens and other popular projects. This ranking change reflects a clear increase in market attention to LUNA, further boosting trading activity. The high heat ranking and spot price rising in tandem create a positive feedback loop, attracting more capital inflows and further strengthening the upward trend.
From market performance, LUNA has consecutively broken through multiple resistance levels, forming a strong upward momentum. The highest increase within 24 hours reached 39.42%, with trading volume hitting recent highs, indicating a clear warming of bullish sentiment. However, considering its historical volatility and the market’s long-term caution towards project risks, investors should remain cautious, closely monitoring subsequent fundamental developments and macro sentiment changes.
This message does not constitute investment advice; please be aware of market volatility risks.
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