Contrary to the prevailing downward trend, Terra Classic is one of the few blockchains that may demonstrate a profit right now.
Do Kwon, a co-founder of Terra, tweeted this past weekend that he was not running from anybody. However, the South Korean prosecution has a somewhat different perspective. She issued warrants for Do Kwon and five other TerraForm Lab executives’ arrests last week. Singapore should extradite Do Kwon after cooperating with Interpol.
Do Kwon had traveled to Singapore after the Terra blockchain had failed. Do Kwon is no longer in Singapore, according to recent announcements from the government there. All the more reason for Do Kwon to be “clearly on the run,” in contrast to what he claimed in his tweet, according to the South Korean prosecutor’s office.
The prosecution also disclosed that Do Kwon had retained attorneys, who had notified them that he was unavailable for a personal interview.
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LUNC/USD has risen after yesterday’s decline below the $0.0002775 level of the 61.8% Fibo retracement. From here, the bulls seem to be aiming for resistance around the $0.0003375 level of the 50% Fibo retracement.
The positive rise might be continued into the 38.2% Fibo retracement of $0.0003975 if they are successful in getting a daily close above this level.
Losses should be anticipated near the 78.6% Fibo retracement of $0.0001921, however, if the daily closing price is below the 61.8% Fibo retracement. The psychological level of $0.0002000 strengthens this support.
