Terra Luna Price Prediction as LUNA Falls 10% in 24 Hours - Here's Where LUNA is Headed Next

cryptonews.com:

The Terra Luna price has dopped to $2.00 today, with the altcoin falling by as much as 10% in the past 24-hour period. Its current level represents an 11% fall in a week, although it remains up by 58% in the last 30 days, making it one of the best-performing coins in the top-100 cryptocurrencies by market cap.

LUNA's fall today follows news that Binance has updated the 'risk warning' it gives to customers when they trade the altcoin, with the exchange now advising users that the "token has been the subject of negative news/coverage recently." Despite this being a relative improvement over its previous warning, the change has nonetheless underlined the possibility that LUNA will never be considered a 'normal' or 'safe' cryptocurrency, and therefore may not be able to return to its former heights.

LUNA's chart appears to suggest that it's now in a position to rise again in the near future. Its relative strength index (purple) has jumped from under 30 in the past few days nearly 50, indicating that it may be reacquiring momentum.

Meanwhile, its 30-day moving average (red) has arguably reached a bottom in relation to its 200-day average (blue), meaning that it may rise again -- along with LUNA's price -- in the near future.

However, this is from purely a technical perspective, and takes no account of more fundamental drivers of the altcoin's price. And when looking at the fundamentals, the picture remains largely uninspiring.

As noted above, Binance has updated its risk warning for LUNA. Up until yesterday, the exchange had taken the step of warning that "A South Korean court has issued an arrest warrant against the founder of Terra 2.0 (LUNA). Please understand the risks involved and trade with caution."

While the new warning is