Crypto news and price analysis for Ecoterra (ECOTERRA), Monkeys Token (MONKEYS) and Terra (LUNA)
Crypto news and price analysis for Ecoterra (ECOTERRA), Monkeys Token (MONKEYS) and Terra (LUNA)

Crypto news and price analysis for Ecoterra (ECOTERRA), Monkeys Token (MONKEYS) and Terra (LUNA)

By Alessandro Adami - 29 May 2023

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In this article we look at all the most relevant news for the crypto assets Ecoterra (ECOTERRA), Monkeys (MONKEYS TOKEN) and Terra (LUNA), along with a price analysis.

Are there opportunities to exploit in these three projects or are there factors that suggest we should stay away from them?

Full details below

The latest crypto news for Ecoterra (ECOTERRA), Monkeys Token (MONKEYS) and Earth (LUNA)

We begin the roundup of market news by talking about the Ecoterra crypto platform.

The main news for the project that aims to create an environmentally friendly blockchain ecosystem concerns the achievement of another milestone in the presale of its token.

In fact, Ecoterra has been conducting an early sale of the ECOTERRA token directly on its website for weeks now, and just now reached the figure of $4.3 million raised.

We are currently in the seventh presale round in which the token can be purchased at a price of $0.0085.

There will be at most 2 more rounds until the $6.7 million goal is reached as initial funding for the project.

Instead, covering the subject of memecoins, a crypto project called Monkeys that alludes to a vague connection with multi-billionaire Elon Musk is attracting a lot of attention.

Like all meme-based crypto assets, the only activities involve promoting and marketing one’s brand on social media, as there is no underlying technology.

Prominent among Monkeys’ latest communications is this cute tweet celebrating the “MonekyBusinness memorial week community competition,” referring to a desire to push the community to have Elon Musk or Vitalik tweet the phrase “Monkeys to mars.”

Moving instead to decisively more serious projects, let’s see what is happening in the Terra ecosystem.

The non-custodial wallet Terra Station, native to the project, has made some changes regarding its interface by inserting the “moon” background.

The latter, inspired by the name of the LUNA token, embodies the potential of the project and the desire to return to its shine as before the May 2022 crash.

Although this is not part of the technical development of the infrastructure, it still serves to guide and motivate the community toward a new era.

Price analysis of the crypto assets ECOTERRA, MONKEYS, and LUNA

Let’s now turn instead to the technical analysis of ECOTERRA, MONKEYS TOKEN, and LUNA.

Starting with ECOTERRA, with which there is actually not much to say since the token is still in presale, all we will do is mention the current price, which is $0.0085 per token and the price of $0.01 expected for the listing, which will presumably take place within 2-3 weeks.

Pay close attention to this coin, because there will most likely be a dump on the day it is listed on the markets, as many users have had the opportunity to buy it at very low prices and will be enticed to sell it immediately on the market.

Usually presales, unless there is a product with a very large demand behind it, open the dances with red candles during the first hours of trading.

This is the tokenomics of the ECOTERRA presale.

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As for MONKEYS, we can observe in the chart a price of $0.0000000187 for the memecoin, which is currently in the price action indecision zone, wedged between the 10-period and 60-period moving averages.

After having had a crazy 3800% increase in its value from 4 to 16 May, it corrected 70% over the next 10 days, and then recorded a bounce that brought it to its current prices.

The situation now is complex for MONKEYS TOKEN: the odds play in favor of a bearish continuation of the chart, however since this is a token tied very much to community trading activity, there could be surprises.

In principle, the bearish scenario should be more concrete should there be a break of the low at $0.00000001262 while the bullish scenario could attract more willingness to open a long at the break of the $0.00000002285 level.

The cryptocurrency has a capitalization of $18 million, a volume in the last 24 hours of $320,000 and a max supply that coincides with the circulating supply.

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4h chart of the price of Mokeys Token (MONKEYS/WETH)

On the LUNA front, traders’ expectations are blatantly bearish, with the trend continuing in search of new lows for several weeks now.

Certainly this is not the most appropriate time to go looking for the speculative long on the altcoin market, both because of the difficulties on the macroeconomic front with the US crisis and the outlook for the crypto sector and Bitcoin‘s price action.

Nevertheless, on LUNA we can expect a gain-worthy bounce, in view of the RSI unload, with adequate confirmations to support it.

In December when LUNA touched the 27 level on the RSI, a 100% pump on the cryptocurrency‘s price followed, but with the same conditions in March and early May there was no revelatory price rise.

Therefore, going long blindly whenever the RSI of an asset reaches an oversold value is not the right choice and it is necessary to wait for confirmation.

In the case of LUNA, the upward break of the psychological resistance of $1 could trigger a price rally, with the understanding that the odds are in favor of shorts.

The crypto has a capitalization of $241 million, volume in the last 24 hours of $22.7 million, and a circulating supply of 277 million coins compared to the total set at $1 billion.

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Terra (LUNA/USDT) daily price chart

The former CEO of Terra (LUNA), Do Kwon, returns to jail after bail was revoked.

Although it now has nothing to do with the Terra (LUNA) project, it is still interesting to deal with the vicissitudes of its former CEO and cybercriminal, Do Kwon.

The individual had been arrested in Montenegro along with his trusted colleague Han Chong-Joon for possession of false documents after attempting to board a flight to Podgorica in March 2023. 

Later, the two had been released on bail of $436,000 (each) and supervised through home detention.

A few days ago, however, came bad news for the founder of the now-bankrupt company Terraform Labs, who saw the cancellation of the courts’ decision to accept release on bail.

Specifically, Montenegrin prosecutors appealed the previous approval of the house custody measure considering the seriousness of the events that occurred and the publication of an Interpol red notice against him.

There is even an extradition request for Do Kwon from South Korea for computer fraud and swindling.

The ball is now in the Basic Court, which can reconsider Kwon and Chong-joon’s bail in a technically infinite number of trials, as there is no limit to the number of decisions this court can take.

According to some rumors, Do Kwon faces 40 years in prison in Singapore and an additional five years in Podgorica, where a trial against him is expected on 16 June.

Throughout all this, the United States is also remotely monitoring the former Terraform Labs billionaire, having cited him on 8 counts.

The situation does not look good for poor Kwon, who risks being behind bars until old age.


Alessandro Adami

Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.

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