NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Here’s how traders knew LUNA and RAY were on the verge of a bullish breakout

Published 09/17/2021, 12:37 PM
Updated 09/17/2021, 03:00 PM
Here’s how traders knew LUNA and RAY were on the verge of a bullish breakout

Online information flows have a tremendous influence on the prices of crypto assets. Just this week, investors witnessed how even fake news can sometimes make the market value of a token explode, even if for just an hour. Fortunately, the effects of legitimate news tends to last longer, but the trick for investors is to figure out which stories to look at when making trading decisions.

Extensive research suggests that there are three types of news announcements that consistently affect crypto prices: exchange listings, staking program launches and new partnerships. While there hasn’t been a legitimate partnership announcement that resulted in massive price movements lately, two crypto assets benefitted immensely from last week's listing and staking news.

LUNA price action. Source: Cointelegraph Markets Pro
RAY price action. Source: Cointelegraph Markets Pro

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.