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

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

Published Sep 17, 2021 12:37PM ET Updated Sep 19, 2021 03:40PM ET

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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

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

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