Price Analysis

Minor Pull Backs For Solana(SOL) and Terra (LUNA) Price In Coming Hours! Here are Levels to Watch

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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Mar 26, 2022

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Highlights

    Solana and Terra price both appear to be significantly bullish aiming to sustain above the three-digit figure until the end of Q1 2022

    However, the assets may face an interim pullback but Terra price is expected to showcase a strong bullish momentum while SOL could continue ranging high

Terra(LUNA) Price Analysis

Terra price gained huge bullish momentum since the second half of 2021 and since then ranged high but failed to sustain at $100. After a couple of rejections, the price consolidated within healthy regions that point out towards a massive breakout ahead. The LUNA price is currently jumping above $86, igniting a flip each time it visits. And hence may test the 50% FIB levels but could slide down to the immediate supports soon. 

The LUNA price bounced off from $80 and intend to attack the $100 resistance again after a breakout from the formed ascending triangle. The asset is extremely bullish over all the time horizons which were ignited by the announcement of a 1B reserve for Terra’s stablecoin(UST). However, the momentum is mixed as the MACD line is below the signal line but RSI is bullish above 55. Therefore an interim pullback towards the $72 to $75 range may be expected. 

Also Read: Cardano Maybe at the Foothill of a Breakout, This is When ADA Price May Hit $3!

Solana(SOL) Price Analysis

Solana’s price has smashed $100 multiple times during the present cycle, which began at the start of 2022. Each time while the asset was expected to plunge down to the support around $70, a significant push flipped the trend as the price slashed below $80. Currently, the SOL price hovers above $100 and attempting very hard to sustain at these levels. 

The SOL price is expected to break out from the descending triangle. If it breaks above $100 and sustains, then it may make a higher high, pointing out towards a trend reversal to revisit $125 further. In the short term, the SOL price is pretty bullish but a little uncertain in the long term. The momentum is pretty bullish as the MACD is line is above the signal line and the RSI is hovering above 55. Also, the rising On-balance volume(OBV) indicates the rising demand compared to that of supply. 

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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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