Decentral Block Post

The United States equities markets rallied sharply last week, ending a three-week losing streak. The S&P 500 rose 3.65% last week while the Nasdaq Composite soared 4.14%. Continuing its close correlation with the U.S. equities markets, Bitcoin (BTC) also made a strong comeback and is trying to end the week with gains of more than 7%.

The sharp rally in the stock markets and cryptocurrency markets are showing signs of a bottoming formation but it may be too early to predict the start of a new bull move. The equities markets may remain on the edge before the release of the U.S. inflation data on Sept. 13 and the Federal Reserve meeting on Sept. 20-21.

Along with taking cues from the equities markets, the cryptocurrency space has its own important events to look forward to. Both the Ethereum’s Merge and Cardano’s (ADA) Vasil hard fork scheduled in the next few days could heighten volatility in several cryptocurrencies.

Although choppy markets increase the risk, they may offer short-term trading opportunities to nimble traders. Let’s study the charts of five cryptocurrencies that look interesting in the near term.

BTC/USDT

Bitcoin soared above the 20-day exponential moving average ($20,662) on Sept. 9, which was the first indication that the selling pressure could be reducing. The bears are attempting to stall the recovery at the 50-day simple moving average ($21,946) but a positive sign is that the bulls have not given up much ground.

Terra has become a controversial blockchain project after the collapse of its native token LUNA and stablecoin TerraUSD (UST) in May. But its recent gains are hard to ignore for cryptocurrency traders. 

LUNA rising from the dead?

After crashing to nearly zero in May, LUNA is now trading for around $6, a whopping 17,559,000% price rally in less than four months when measured from its lowest level. 

Meanwhile, LUNA's performance in September is particularly interesting, given it has rallied by more than 300% month-to-date after a long period of sideways consolidation.

Terra ecosystem in September

It is vital to note that LUNA also trades with the ticker LUNA2 across multiple exchanges.

In detail, Terraform Labs, the firm behind the Terra project, divided the old chain into Terra Classic (LUNC) and Terra LUNA 2.0 (LUNA/LUNA2).

Terra has become a controversial blockchain project after the collapse of its native token LUNA and stablecoin TerraUSD (UST) in May. But its recent gains are hard to ignore for cryptocurrency traders. 

LUNA rising from the dead?

After crashing to nearly zero in May, LUNA is now trading for around $6, a whopping 17,559,000% price rally in less than four months when measured from its lowest level. 

Meanwhile, LUNA's performance in September is particularly interesting, given it has rallied by more than 300% month-to-date after a long period of sideways consolidation.

Terra ecosystem in September

It is vital to note that LUNA also trades with the ticker LUNA2 across multiple exchanges.

In detail, Terraform Labs, the firm behind the Terra project, divided the old chain into Terra Classic (LUNC) and Terra LUNA 2.0 (LUNA/LUNA2).

Bitcoin (BTC) stayed higher into the Sep. 10 weekly close as optimistic forecasts favored $23,000 next.

$23,000 targets remain in place

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $21,730 on Bitstamp overnight — the most since Aug. 26.

The pair managed to conserve its prior gains despite low-volume weekend trading conditions being apt to amplify any weakness.

Among analysts, excitement was palpable going into the new week, one which should prove pivotal for short-term crypto price action.

The Ethereum (ETH) Merge and fresh United States inflation data were the top catalysts expected to influence the market.

The Florida Department of Agriculture and Consumer Services (FDACS) issued a warning sharing insights into identifying robocall scam marketing auto warranties, which includes being asked to pay for the services via gift cards and cryptocurrencies. 

Consumer complaints against increasing robocall scams — wherein scammers use prerecorded calls to market and sell fraudulent services — led the Enforcement Bureau to order phone companies to avoid carrying robocall traffic.

Regardless of the methods used by scammers to contact potential victims, the FDACS newsletter highlighted five red flags that indicate scams.

Stressing on some of the go-to payment methods often being recommended by the scammers, the announcement read:

“Payment Type: If you are asked to pay with a gift card or cryptocurrency, it’s a scam.”