LUNA Classic, Bitcoin & Shiba Inu — Asian Wrap October 17th
LUNA Classic Price Prediction: A new opportunity to short LUNC’s 50% crash
The LUNA Classic price continued to fall over the weekend, but things seem to be turning around this week. As the new week’s Asian session kicks off, investors can expect a minor rally that will provide a better entry for the ongoing bearish move.
LUNA Classic price created a head-and-shoulders setup between September 26 and October 10. However, the selling pressure on October 10 resulted in a breakdown, initiating a 50% move to the downside.
The head-and-shoulders setup signals a 50% decline, determined by measuring the distance between the head’s peak and the valley that follows. Adding this target to the breakout point of $0.000290 shows that the target is $0.000220.
These two things need to happen for the Bitcoin price to turn bullish
Bitcoin price shows clear consolidation over the weekend with no volatility. However, as the Asian session wakes up, things may start to get a little tricky as BTC lags behind a bearish move.
Bitcoin price action between September 13 and October 10 created a bear flag, which is a bearish continuation pattern. On October 10, however, the bears won the month-long battle and cut through the pattern, creating a daily candlestick close below the pattern.
This bearish move, combined with the Consumer Price Index (CPI) announcement on October 13, sent the Bitcoin price down 7.7% to $17,917. However, the recovery was swift, pushing BTC up to end the day on a bullish note.
Shiba Inu holders turn bullish as Shiba Eternity rating rises on Play Store
The Shiba Inu ecosystem’s trading card game, Shiba Eternity, received a rating of 4.9 out of 5 from users. This places the game on the list of top games on the play store. Analysts maintain their positive view of the Shiba Inu.
Shiba Inu holders are bullish on the meme coin
The Shiba Inu Trading Card Game launched worldwide on October 6. Since then, the game has had over 100,000 downloads and received a 4.9 rating across 11,500 reviews on the Android Play Store.
Shiba Inu has become one of the most popular meme coins and it recently added over 100,000 new SHIB holders. The game allows users to choose from 10,000 Shiboshi heroes, and 500 trading cards, among others. Advocates believe that the popularity of Shiba Eternity is likely to drive the introduction of SHIB.
