The aftermath of the LUNA 2.0 airdrop has kept both the tokens, LUNA & LUNC within consolidated regions. Additionally, both the tokens now appear to be deeply correlated as they are stuck up inside a range. Both the assets being equal-distinct from their respective break-points, it is now interesting to watch which will make it first.
It was just a week before, that the new tokens made their way to the LUNC & UST holder’s wallet. After the airdrop, it was believed that LUNA price may not be impacted by the crisis as the Terra 2.0 had completely excluded the algorithmic stablecoin, UST. However, both the tokens experienced a significant boost on the day of the airdrop. Interestingly, both the asset plunged hard and now consolidating in a similar fashion.
Here, in the above chart is it pretty evident that both are following a similar price movement. Both the assets experienced a more or less similar upswing at the same time and both dropped hard, reaching their respective support zones. Since then LUNA & LUNC prices are consolidating below one of the important price zones.
Therefore, with the shaky market conditions, both the assets may either continue consolidating in the same price zone or drop towards the lower support. However, if LUNA 2.0 price and LUNC price has to regain their lost levels, then they are required to reach out to the trigger levels at the earliest. The trigger level is around $7.5 in the case of LUNA and $0.00011 for the LUNC price.