Price Analysis

Serum(SRM) Price Swings High, Terra(LUNA) Price Forms A New ATH, What’s Next?

Written by: Sahana Vibhute

Written by right arrow

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.

  • author facebook
  • author twitter
  • linkedin

Aug 16, 2021

news-image
Article Highlights
  • SRM price jumped more than 34% on the present trading day to diminish the gap between the current price and the ATH

  • LUNA price gained a huge bullish momentum by adding nearly 30% in order to march to hit its ATH above $23

The beginning of the fresh week trade appears to be pretty good as most of the cryptocurrencies experience a notable rally. While some currencies like Solana(SOL) smashed ATH, other assets like Serum(SRM) and Terra (LUNA) surge with lightning speed. Also, the new ATH for both the assets could be fast approaching as they have already registered a giant rally. 

Serum(SRM) Price In A Decisive Zone

Serum price recorded a couple of huge bullish green candles in the past couple of days that enabled the price to get a step closer to its ATH. The rally which maintains a steady uptrend for the past 20 days, intensified its surge from the early trading hours. And hence reached one of the decisive phases, from which the SRM price could take off or land on its support.

srmprice

The zone in between $7 and $7.6 could be the resistance zones which appear pretty strong and hence a kick-off from here could propel the price towards its target. The price which is trading within this zone needs to hold the resistance very strong to aim high. Else a substantial dump could drag the price close to its support levels below $5. 

Also Read: Solana Price on a Roar! SOL Price has Finally Broken the ATH

Terra(LUNA) Forms New ATH At $23.32

LUNA price manifested a remarkable rally from $0.6 to as high as $22 in just a month. But later went on declining actively until it hit the support levels at $4.2 during the mid-may crash. However, after trending with a very narrow range, the Terra price went parabolic by gaining immense bullish momentum a couple of weeks ago. 

lunaprice

The rally displays a similar uptrend which it underwent during the beginning of 2021. And if the asset mirrors the same movement, then a substantial dump could also be fast approaching. In such a case, the price could hit the newly formed strong support levels at $12 and trigger a bounce further. 

Collectively, both the assets appear to be self-assured of the upcoming price movements as the bulls could have jumped in the ring. With the continued pace, the SRM price and the LUNA price could hit a three-digit figure by the end of 2021.

Also Read: Altcoin Watch – Top Altcoins to Bet on This Week !

Show More

Was this writing helpful?

dislikeimage No myImage Yes

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.

Related Articles

Back to top button