Price Analysis

Terra Classic (LUNC), Terra (LUNA) & TerraUST (USTC) Trembles Down as Bitcoin Gains Momentum! Is the Rally Settled?

Author: Sahana Vibhute

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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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Highlights
  • The Terra platform tokens have witnessed a steep drop since the early trading hours as the traditional asset knock-off

  • While it appears like a settled rally, a significant upswing may make its way out after a brief consolidation

The Terra ecosystem tokens, LUNC, LUNA & USTC after recording a massive jump since the beginning of the monthly trade, appear to have relaxed a bit. The popular sister tokens decoupled from the current market trends to set up a massive upswing, gaining more than 300% in the past 7 days. However, the crypto asset is experiencing a double-digit drop as Bitcoin regains attention, which may be flipped very soon. 

Bitcoin price is expected to coil up to reach the pivotal resistance around $22,500 and hence may further fall prey to a short squeeze. This may be the time when the assets are accumulating strength, further to which a massive uptrend could be imminent. 

Terra Classic (LUNC) 

Terra Classic(LUNC) price after marking the highs just below $0.0006 dropped notably but is sustaining above the trend line, indicating the strength of the rally. The price still displays huge scope for an upward movement. As the selling pressure has not made any room, the accumulated buying pressure may eventually assist the price to maintain a significant upswing. 

However, after a brief consolidation, the LUNC price may resume its trend toward the upper resistance levels shortly. 

Terra(LUNA) 

LUNA price has been slashed hard since the beginning of August’s trade and that rebounded fairly in the past few days. However, the resistance has been squeezed significantly while the support remained elevated. Hence displaying pressure on either side, may further compel the price to undertake a quick breakout from the symmetrical consolidation. 

With a breakout, the Terra (LUNA) price is expected to regain levels beyond $2 and test the upper resistance at around $2.3. 

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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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