Terra Trading forecasts and signals

GBP/USD: the asset updates the local maximumThe British currency is showing strong growth against the US dollar at Asian auctions, consolidating at a loss of 1.2550, developing upward dynamics, reaching a maximum on May 5.A positive factor for the pair is the build-up of corrective forecasts from USD bidders due to Treasury bonds that are losing positions. Investors continue to win back the data released last Friday, which turned out to be cautiously optimistic, surpassing the negative expectations of experts. According to publications, the sales index in the retail segment increased by 1.4% in April, after a correction of 1.2% last month, contrary to economists' forecasts of a 0.2% drop. The indicator for the year recorded a decrease of 4.9%, against an increase of 1.3% in March, and contrary to expectations of a bolder decline of 7.2%. The sales indicator, without taking into account fuel, increased by 1.4% on average for the month, showing a correction of -6.1% for the year, contrary to forecasts of a fall of 0.2%, and 8.4%.Resistance levels: 1.2600, 1.2674, 1.2800, 1.2900.Support levels: 1.2500, 1.2400, 1.2250, 1.2163.EUR/USD: the prospect of a local correctionEUR/USD is testing the 1.0590 mark, holding the correction trend.During the session on Friday, the euro gained moderate support due to the release of statistics, in general, which turned out to be better than expected. According to the data, German producer prices in April lost about 2.8%, exceeding analysts' expectations, suggesting a correction to 1.4%, and the annual level reached 33.5%, which is better than expectations of 5%. The CCI indicator in the EU was fixed at the level of 21.1 points in May terms, being more positive than the indicator of 22.0 points last month. Meanwhile, there is a possibility of changing the positive picture already in the current day due to the release of statistics on the German IFO in May, according to which a decrease from 9.8 points to 91.4 points is allowed. The index of business expectations may also be under correction from 86.7 points last month to 83.5 points in the present.Resistance levels: 1.0627, 1.0850.Support levels: 1.0496, 1.0287.Gold pricesThe price of the precious metal continues its positive growth dynamics from the start of trading this week, having updated the corridor peak from May 12. The asset has reached the level of 1850.00.developing the prospect of further growth, due to the absence of probable resistance factors. Strong support for gold is provided by the US currency, which is actively losing positions in the currency markets, being under pressure from weak data released last week. Fears in the market are also fueled by the loss of interest income from US Treasury securities. Nevertheless, bidders are betting on the publication of the minutes of the US Federal Reserve meeting held in May. Investors expect, after studying the documents, to confirm their forecasts regarding the continuation of the policy of the "hawks" in the matter of further tightening of monetary parameters.The BTC cryptocurrency market overviewis holding the movement, developing a long-term downward trend, trying to gain a foothold only a little a week earlier in the price range of 28700-31000.The first shock of investors to the fall of the UST stablecoin and the LUNA token has passed, allowing monetary factors to once again correct market sentiment, creating the necessary price balance, preventing strong price volatility. The stock market was under strong pressure amid expectations of the continuation of the policy of the "hawks" to further tighten monetary parameters from the US Federal Reserve, which affects the cryptocurrency market, because they are closely interrelated. Meanwhile, a sharp increase in the key indicator may lead to recessive processes in the US economic sphere, as the chairman of the US Central Bank, J.P., said earlier. Powell. Market participants, against the background of such a situation, will probably turn to electronic assets again, wanting to save their capital. A number of reputable experts are now making bold predictions that the crypto market may continue the downward trend. So, according to the statement of Galaxy Digital CEO Mike Novogratz, cryptocurrencies may fall in price by 70% in the medium term.Resistance levels: 31500.00, 34375.00, 37500.00.Support levels: 28125.00, 25000.00, ...

The largest investors of the Terra project, Mike Novogratz from Galaxy Digital and Delphi Digital, recently admitted their mistakes in underestimating the risks of a "spiral of death" in the Terra ecosystem, which destroyed the algorithmic stable coin TerraUSD (UST) and the LUNA balancer coin, which provides reserves with the help of the Luna Foundation Guard (LFG) linking UST to the US dollar. Investors who lost tens of millions of dollars bitterly stated that the event with Terra "will greatly undermine investor confidence in the cryptocurrency and DeFi markets."Novogratz reminded investors of the need for proper risk management and that the share of such a risky asset as cryptocurrency in the investment portfolio should be 1-5 percent of the total value of assets. Retail investors should risk only that part of their funds that is not critical to lose for their budget.At the same time, the Terra Builder Alliance (TBA) development team recently announced the creation of a new version of the blockchain for the Terra ecosystem, making an attempt to use the chance to be reborn from the ashes again.TerraBuilderAlliance shared his vision of the new Terra 2.0 network on Twitter and is already holding a vote in the community, which will last until May 25. The blockchain launch is scheduled for May 27.The updated and final plan for the revival of the Terra 2.0 ecosystem, including in-network and external management and resource allocation, is presented by Terraform Labs co-founder Do Kwon on Terra.The main goal of the reconstruction of the Terra ecosystem, which has gained global fame, is to preserve it together with the community and developers who have created applications from DeFi to interchangeable labor markets and modern infrastructure.The old network will now be called Terra classic with the LUNC token, the new version of the blockchain will retain the name Terra with the LUNA token and without the algorithmic stable UST coin.An airdrop of LUNA tokens is planned for the remaining participants of the Luna Classic platform, UST stablecoin holders and developers of the main applications of the old network. The new network will be fully decentralized and owned by the community. The TFL wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6) will be removed from the white list for the distribution of LUNA tokens.Network security will be stimulated by token inflation. The target remuneration for stacking is 7 percent per annum.The update will start within a few hours after launch and completion, depending on the development readiness.According to the results of the vote, the community still supports the Terra reconstruction ...

Bitcoin on Tuesday lost a noticeable part of the growth in the afternoon.Another stablecoin has lost its peg to the US dollar. Dogecoin founder Billy Marcus called 95% of crypto assets "garbage".Meanwhile, Peter Schiff predicts the collapse of BTC to $8000, based on technical factors.Bitcoin gained 0.7% on Tuesday, ending the day at about $30,100. BTC tried to grow in the first half of the day, but lost a noticeable part of the gains in the American session, despite the active growth of the Nasdaq.The total capitalization of the crypto market, according to CoinGecko, increased by 1.1% per day, to $ 1.36 trillion.The cryptocurrency index of fear and greed by Wednesday rose by 4 points to 12, but remains in a state of "extreme fear". The index began to grow from the lowest levels since August 2019.According to CoinShares, institutional investors invested $274 million in crypto funds last week, which is a record since the beginning of the year.The head of Euro Pacific Capital and a well-known critic of cryptocurrencies, Peter Schiff, predicted the collapse of bitcoin to $8000, drawing attention to the figures of technical analysis "double top" and "head and shoulders" on the BTC chart.Following TerraUSD, another stablecoin - DEI - lost its peg to the US dollar. The stablecoin market needs strict regulation, according to the US Congressional Research Service (CRS).Most of the Terra community members did not support the idea of a hard fork and airdrop of a new token.eCurrency CEO Jonathan Dharmapalan said that the collapse of the Terra ecosystem and the TerraUSD (UST) stablecoin could push central banks to accelerate the launch of their own digital currencies.South Korean authorities have begun emergency checks of local crypto exchanges to prevent such situations that have arisen around Terra and UST.Due to the speculative nature of cryptocurrencies, investors need more protection, otherwise they may lose confidence in the markets, said SEC head Gary Gensler.Dogecoin co-founder Billy Marcus called 95% of crypto assets "garbage" and suggested that 70% of investors do not even understand the fundamentals of the crypto market.According to the Cambridge Index of energy consumption by bitcoin miners (CBECI), China has reached the second place in the world in terms of BTC mining, despite the prohibition of cryptocurrencies in the ...

Bitcoin has resumed its decline since the beginning of the new week.Meanwhile, the founder of the Terra ecosystem has presented a new plan for the rehabilitation of the failed project.Bitcoin declined by 3.6% on Monday, ending the day at about $29,900. BTC resumed its decline after some recovery in recent days amid the negative dynamics of the Nasdaq.The cryptocurrency fear and greed index dropped by 6 points to 8 by Tuesday and remains in a state of "extreme fear". The index has become the lowest since August 2019, when BTC was around $10,000.According to CryptoQuant, institutional investors continue to buy BTC through market makers, despite the fall of the crypto market.Alexey Mashinsky, CEO of the Celsius Network cryptocurrency lending platform, believes that the tightening of the Fed's policy in the fight against inflation will have a beneficial effect on the cryptocurrency market.CEO of FTX crypto exchange Sam Bankman-Fried believes that bitcoin has no future as a payment network due to its low scalability and negative impact on the environment. An alternative blockchain based on Proof-of-Stake (PoS) is required for payments.Read more: Guide to PoW, PoS, PoA: how consensus algorithms work in blockchainsManaging Director of the International Monetary Fund (IMF) Kristalina Georgieva called for the creation of a new public infrastructure of payment systems, including digital currencies.A conference with representatives of 44 countries was held in El Salvador, during which it was planned to discuss the use of bitcoin for payments.ECB representative Fabio Panetta said that the launch of the digital euro could take place as early as 2026, and its testing will begin in 2023.The founder of the Terra ecosystem, Do Kwon, intends to present a new Terra fork management system to the Terraform Labs team on May 18, untying it from the TerraUSD (UST) stablecoin.The new "chain" will be completely independent — it will not be tied to the UST token, as it was before. At the same time, the Terra blockchain will continue to exist and will work, as before, with reference to the UST stablecoin, but it will be called differently - Terra Classic (LUNC).Kwon wants to conduct a hard fork as quickly as possible. If everything goes according to plan, the new LUNA blockchain will be launched on May ...

After the stunning events of last week, the crystal currency market is rebalancing and analyzing the causes of the crushing collapse.Supported by the owners of Bitcoin, the market of the main cryptocurrency is currently holding the price above the psychological level on May 17.Last week, along with the pressure of macroeconomic factors, the volatility of the Bitcoin market was intensified by turbulence and chaos created by two stablecoins, UST and USDT. Since stablecoins have been the main link between the digital world and real capital in the last two years, this has created additional downward pressure on the value of Bitcoin.According to market researchers Glassnode, the two largest interdependent cryptocurrency assets by market capitalization, LUNA and TerraUSD (UST), lost 40 billion in investment value within a few days.TerraUSD (UST) stablecoin was a very promising project and was in the top ten by market capitalization. In decentralized finance (DeFi), it was second only to Ethereum (ETH) in popularity.Thanks to the algorithmic design, UST and LUNA were mutually convertible, but each UST token could only be exchanged for one LUNA token, worth $1. Thus, the requirement of linking the UST stablecoin to the dollar in a ratio of 1:1 was ensured, which was supported by the Luna Foundation Guard (LFG) reserves. When the demand for UST increased, the supply of LUNA decreased and vice versa, when the demand fell, and with it the prices, the supply of LUNA increased.Last week, the algorithmic UST stablecoin almost lost the required 1:1 dollar peg, and the LUNA balancer coin depreciated to the level of "0.00001 dollars due to hyperinflation of supply." Sales of LFG reserves in the amount of 80 thousand BTC did not save the situation and many exchanges excluded them from their listing.At the same time, during the market turbulence, the largest stablecoin Tether (USDT), backed by various assets, including risky ones, also briefly collapsed to the level of $ 0.965. Thanks to the measures taken by the creators of USDT aimed at restoring collateral reserves, the Tether stablecoin (USDT) is trading at $0.999 today.Given the scale of the impact on the cryptocurrency market and the risk to the traditional financial system due to the conversion of a stable coin into a fiat currency, the issue of adopting a law on the regulation of stable coins has been raised again in the US Senate Banking Committee.As reported by Newsis, the top financial regulators of South Korea were also concerned that the fall of UST and LUNA caused damage to more than 200 thousand investors in South Korea and Singapore. According to the Commissioner of the Financial Supervision Service, Jong Eun-bo: "There are concerns that confidence in the virtual asset market will decrease and users will be harmed." In this regard, the issue of creating a global system for regulating virtual assets should be ...

EUR/USD: the asset continues to collapseAccording to the data, the euro keeps the dynamics of a sharp decline against global competitors, due to recorded cases of failure in the supply chain of Russian gas. The instrument is held at 1.0397.According to Gazprom's statement, the volume of supplies of "blue fuel" to EU countries through the Yamal-Europe gas pipeline is completely blocked due to partial passage through Poland, having approved serious restrictions the day before in view of the negative response of the country's authorities to pay for the supply of resources in rubles. According to experts, the result of the termination of supplies has already been a shortage of gas received by the eurozone countries of about 25%, going through Poland and Ukraine. Such a tense situation has become a reason for non-public statements about the likely "resurrection" of the SP-2 pipeline, in which case all attempts by European countries to damage the Russian economy will be leveled, which no one will be able to allow. At the same time, the cost of gas in the markets has already reached 1,236 thousand dollars, leaving the euro under pressure.Resistance levels: 1.0623, 1.1163.Support levels: 1.0330, 1.0100.AUD/USD: "Aussie" is trying to move to growthThe Australian currency is in the zone of active corrective growth against the US dollar during Asian trading, having completed the "episode" of a strong drawdown of positions, reaching record lows in June 2020.Market participants decide only on short-term transactions, which is why there is a factor of technical adjustment, but the fundamental trends in the AUD/USD pair change sluggishly. Meanwhile, the Australian dollar continues to be under pressure due to uncertain macroeconomic statistics published in Australia. According to the data, the level of sales of residential real estate in the primary market from HIA decreased by 1.2% in April terms, showing an increase of 3.9% a month earlier. According to a joint study, which was attended by representatives of the ANZ financial group and analysts at CoreLogic, it was noted that buying their own homes for citizens is beginning to become less affordable. Recall that to buy your own housing, the deposit rate should be about 20%, which corresponds to the quantitative expression of 147,795 thousand dollars, which will be possible to accumulate in 11.4 years for urban areas and up to 10.5 years for rural areas, respectively.Resistance levels: 0.6900, 0.6950, 0.7000, 0.7050.Support levels: 0.6827, 0.6750, 0.6700, 0.6650.Cryptocurrency market overviewAccording to data from trading platforms, the value of BTC reached the mark of 31000.00, falling by 10.6% in price, ETH is testing the level of 2100.00, having lost 20.8% of the value, BNB fell to 305.00, whose losses amounted to 15.4% of the price. The total capitalization figure was $ 1.314 trillion, in which BTC increased its share to the level of 44.46%.During the whole week, the cryptocurrency market was trading under strong pressure due to the hard course taken by the US regulator as part of the fight against inflation. So, a series of published reports on inflation, gave confirmation of experts who expected its strong growth. According to the data, consumer prices reached the level of 8.3%, while production prices – 11.0%, reaching forty-year highs. Market participants hope that the US Federal Reserve will undertake a more drastic tightening of monetary parameters, as well as the growing risks of recession in the United States economy, which will lead to an increase in dollar demand, to the detriment of alternative assets. The negative background was supported by the news about the fall of the UST steibkin token (TerraUSD) and Luna assets, which lost 81% and 99% in value in a few days, respectively. Economists explain the situation of negative dynamics as a consequence of the panic on the trading floors. After all, since the UST stablecoin began to lose positions, leaving the bundle with the US dollar, market participants immediately switched to short positions on the instrument, thereby finally collapsing the exchange rate.Oil market overviewThe cost of WTI grade raw materials moves in flat dynamics two months in a row, developing a wide lateral range within 111.00-95.00, waiting for new signals that can change the trend.Experts name two key factors, because of which the oil market remains in uncertainty all this time. The instrument receives positive signals against the background of discussions on a possible ban on oil supplies from Russia to the eurozone. Working groups are continuing consultations on this issue, and the strong dependence of individual European states on Russia's energy resources is an obstacle. The successful growth is counterbalanced by the Covid-19 pandemic in China, the world's largest economy consuming export oil. In case of epidemiological deterioration of the situation, the level of demand can be severely undermined.Resistance levels: 112.50, 118.75, 125.00.Support levels: 100.00, 93.75, ...

After a tough sell-off in the cryptocurrency markets, provoked by the macroeconomic environment and internal problems of stable coins, the main cryptocurrencies are showing recovery today.The predictions of some experts about the fall of the leading crypto currency, Bitcoin, below the level of 25 thousand dollars, did not come true.Large Bitcoin whales, buying up cryptocurrency on the fall, pushed the price above the psychological support of 30 thousand dollars. And although there is extreme fear in the crypto market (10/100), the daily price increase of 8 percent has already restored a significant part of the 7-day drop of almost 30 percent.Ethereum (ETH) is also trading above $2,000 today. However, before a full week of recovery, you will have to make at least two jerks.Popular altcoins from the top ten cryptocurrencies, such as Cardano (ADA), Solana (SOL), Avalanche (AVAX) and Shiba Inu (SHIB), showed impressive daily growth in the range of 20-30 percent.At the same time, TerraUSD (UST), which was recently considered a promising stablecoin, was suspended from trading after a catastrophic collapse on many exchanges. The validators of the network suspended the issue of tokens until the UST stablecoin balance and its provision are restored.The cost of Tether (USDT) has almost reached one dollar ($0.9988 according to CoinMarketCap).The CEO of the Coinbase crypto exchange, Brian Amstrong, in the company's recent profit and loss report for the first quarter of this year, expressed an optimistic assumption that in the next twenty years the crypto economy will grow to about 15 percent of the global gross domestic product (GDP).Amstrong believes that just as most companies use the Internet now, so in twenty years they will use cryptocurrency and blockchain.Coinbase CEO believes that "in young markets, people are irrationally violent. And then in falling markets, people are irrationally ...

Bitcoin has been declining for five weeks in a row.The collapse of Terra added fuel to the fire at the end of the week. The head of the Bitcoin Foundation believes that BTC may crash or reach $1 million.Bitcoin declined by 10.7% over the past week, ending it at about $34,200. Ethereum lost 9.7%, other leading altcoins from the top ten fell from 4% (Cardano) to 18.7% (Terra).The cryptocurrency fear and greed index decreased by 4 points in a week, to 18 and continues to be in a state of "extreme fear". By Monday, the index had dropped to 11 points - the index was at such levels on January 23, followed by an upward reversal of BTC.Bitcoin has been declining for five weeks in a row amid stock market sell-offs due to the tightening of the Fed's monetary policy. BTC has fallen below its 100-week moving average for the first time since the crisis of March 2020, which is an extremely negative signal.Bears are aiming for the lows of the current year just below $33,000, and then the level of $30,000, which buyers fiercely defended last year, may be under attack.The fall of bitcoin at the end of the week occurred against the background of news about the problems of Terra. The cryptocurrency collapsed against the background of the short-term unbinding of the UST stablecoin from the US dollar due to the outflow of assets from the Anchor protocol. Against the background of a decrease in the rate of return on deposits, over 2.2 billion UST were withdrawn from Anchor in less than two days. Skeptics believe that algorithmic stablecoins are unstable in their design, since they do not have dollar collateral.The head of the Bitcoin Foundation, Brock Pierce, said that he observes a situation in the cryptocurrency market similar to the dotcom crisis of the turn of the noughties and therefore diversifies his portfolio into EOS and the NFT market. The billionaire claims that bitcoin will either crash or become very successful, so you should not invest all your money in BTC.The best weekly dynamics was shown by TRON, which added about 29%. On May 5, the algorithmic stablecoin USDD was released and put into circulation on the Tron network. The founder of the project, Justin Sun, announced the highest profitability in the DeFi industry for freezing the stablecoin. The profit from the placement of USDD will be 30% per ...