Price Analysis

Decentraland (MANA) Price Continues To Dominate, While Terra(LUNA) Price Cement On A Decisive Phase

Written by: Sahana Vibhute

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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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Nov 13, 2021

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Highlights

    MANA price continues to escalate towards its highs after consolidating since the start of new trading month

    Terra(LUNA) price is trending on a decisive phase where-in a notable flip is the need of the hour

Decentraland (MANA) Price Aims 1x Jump Soon

Decentraland price amid the bull rally in Q1 surged more than 1000% yet was able to hit the highs around $1.62. Further, following a plunge, the asset maintained a narrow trend for nearly 4-5 months before piercing through the resistance. After smashing new highs around $5.03, entered correction phase and consolidated around $3.55 levels. 

manachart
Source: Tradingview

Currently, the price from the past couple of hours is attempting to break the resistance at $3.59, yet is facing rejection. As an outcome of multiple rejections, the price may drop further towards $3 and eventually rise above the levels. The surge may uplift the price towards its ATH around $5 initially and further may have an 80% jump towards the $7 target. 

Also Read: Bitcoin Taproot Upgrade Is On The Horizon, Will It Propel BTC Price To $100k?

Terra(LUNA) Price May Drop Very Soon

Terra price since the August flip is surging high, trending within an uptrend channel. Amid the uptrend, the price is currently testing the strong support levels around $48. The asset could range high to hit the peak of the channel. However, LUNA prices may eventually fall into bearish divergence very soon. Therefore, it would be pretty interesting to witness whether the asset losses its grip over the bull run now or after hitting the peak. 

terraprice
Source: Tradingview

As mentioned in the chart, the asset is trending within a rising channel. And hence trending within the resistance and support levels may continue until the price reaches new highs. At present, the asset may hit the immediate targets above $60 and undergo a correction. However, the Terra price may still range high to reach the targets at $75.

Collectively, Decentraland(MANA) price and Terra(LUNA) price may clinch a new high amid the current bullish trend. However, both are testing crucial support levels at the press time and a strong rebound may initiate a substantial uptrend.

Also Read: Cardano Consolidating Again, ADA Price May Drop To $1.5 Levels Soon!

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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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