Price Analysis

Altseason To Get Kicked-Off Soon, Terra & Solana Price Surge On Decisive Levels

Written by: Sahana Vibhute

October 21, 2021

The crypto market appears to have to gear up as the most dominant crypto Bitcoin smashed new highs. With a slight pullback probably due to profit-booking, the other major altcoins get ready to smash their current highs. Terra (LUNA) price and Solana (SOL) price are among those assets which utilized the opportunity to range high.

Terra(LUNA) Price Maintains The Bullish Pattern

The asset followed the Solana price rally and ranged very close to $50 but experienced a notable pullback. Yet sustained strongly above $34 and rebounded each time it touched the lower levels of the bullish pattern. And therefore, initially, the LUNA price could attain $50 again in the short term. 

Terra price after reached its highest levels trended in a rising and falling wedge constantly. However, the asset is currently consolidating after trending within the falling wedge and gearing up to move towards the north. As mentioned, following the pattern, the price may initially hit $50 and later prepare itself for a $100 target amid the bull run.

Solana (SOL) Price Aims 20% Upswing

Solana price since it ranged high above $215, adopted a silent downtrend without bottoming too much. Interestingly, the price remained steadily above $100 despite the bloody September included multiple sell-offs and crashes. Currently, after swinging within the ascending triangle, the asset broke the pattern recently with an aim to range high.

 

Source: Tradingview

The asset is ranging slowly and steadily towards the $200 milestone yet again in order to prevent extreme drain. Hence, after a slight correction, the asset could range beyond its ATH at $216. Moreover, the Fibonacci 1.6 level has formed somewhere close to $230 and hence the breakout from the trend line could uplift the price to these levels. 

Summing Up, with the bitcoin price laid the foundation stone for the resumption of the bull rally 2021, many altcoins wait eagerly to follow. Other than Ethereum, XRP, Cardano, etc, Solana(SOL) price, Terra (LUNA) price could also reach their respective target levels. 

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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