LUNAUSDT Breaks Key Support as Bearish Bias Intensifies

Summary
• Price formed bearish reversal patterns near 0.0616, followed by a strong downtrend into 0.06.
• Momentum weakened as RSI dropped below 30, confirming oversold conditions.
• Volatility expanded significantly as Bollinger Bands widened during the evening hours.
• Turnover surged past 200,000 USDT in key bearish moves, reinforcing trend strength.
• 20-period MA on 5-min chart crossed below price, signaling bearish bias for intraday traders.

Terra/Tether (LUNAUSDT) opened at 0.0611 on 2026-03-07 12:00 ET, hit a high of 0.0618, a low of 0.0599, and closed at 0.0616 as of 12:00 ET on 2026-03-08. Total volume reached 5,293,765.62, with a notional turnover of 316,586.10 USDT over the 24-hour period.

Structure & Formations

Price saw a bearish engulfing pattern around 0.0616 before a sharp selloff into the 0.06 level, indicating short-term exhaustion. A bullish reversal failed at 0.0606, followed by a bearish breakdown. The 0.0614–0.0616 area appears as a key intraday resistance, while 0.0606–0.0608 acts as short-term support.

Moving Averages

On the 5-minute chart, the 20-period MA crossed below price, suggesting bearish momentum in the short term. The 50-period MA also turned lower, reinforcing the downtrend. Daily MAs (50/100/200) are not provided, but the 1-day close at 0.0616 suggests a possible pullback from the 0.0606 low.

MACD & RSI

RSI dropped below 30 during the selloff, confirming oversold conditions, while MACD turned negative and remained in bearish territory. This suggests that further downward momentum is likely unless volume and price diverge.

Bollinger Bands

Volatility expanded significantly during the evening and early morning hours, with Bollinger Bands widening. Price traded below the 20-period lower band for much of the session, indicating a strong bearish bias.

Volume & Turnover

Volumes spiked during key bearish moves, especially after 20:00 ET, reinforcing the downward trend. Turnover aligned with volume, showing no signs of divergence, which supports the continuation of the current bearish structure.

Fibonacci Retracements

Key Fibonacci levels from the 0.0618 high to the 0.06 low include 38.2% at 0.0613 and 61.8% at 0.0605. Price briefly tested 0.0613 on the way back but failed to hold. The 0.0605 level could be a potential target if the current bearish wave continues.

Over the next 24 hours, a retest of the 0.0605 level may occur if bearish momentum holds. Traders should monitor volume for signs of exhaustion or renewed buying interest. A break above 0.0614 could shift near-term bias higher, but downside risks remain elevated.