Price Analysis

Terra(LUNA) an Inch Close to Achieve a Milestone, This is When It May Surpass ATH to Hit $130!

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 28, 2022

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Article Highlights
  • Terra price has formed an extremely bullish pattern which indicates the price could be at the foothills of the mountain

  • With a significant breakout, the LUNA price may eventually range high to discover new highs much above the AT, somewhere around $120

Amid the market’s ups and downs, Terra price has showcased immense strength in its rally which is not seen with most of the crypto assets. The top DeFi token is showcasing the huge potential to barge into the pivotal levels around $100 shortly. As the asset rose high with huge momentum, the upper target formed is elevated at nearly 15% to 20% at the moment. 

LUNA price after testing the levels close to the ATH just above $100, faced a minor rejection and consolidation later. However, the asset is currently on the verge to undergo a massive breakout as the present-day’s candle resides on the resistance line. Moreover, a tough fight between the buyers and sellers compel the price to remain almost stagnant. Therefore, the upcoming couple of hours is extremely crucial as if the buyers get exhausted, the price may slide back into the triangle. 

  • The LUNA price is pretty misty in the short-term as RSI is hovering above the average levels but with less intensity and hence may take a turn depending on the volume
  • On the other hand, the MACD is pretty bullish as a significant ‘buy’ signal may be flashed very soon 
  • However, the Average Directional Index(ADX) is bearish, meaning the price rally is weak and also being less volatile. 
  • Moreover, the bears keep up the control in the short term and hence a breakout above $100 appears to be a tedious job
  • Yet the Terra price has surged above the pivotal levels at 50-day & 200-day MA levels, manifesting a clear bullish trend 

As the selling pressure appears to be equal to that of buying Terra(LUNA) price could encounter hefty situations to overcome. However, it is interesting to watch, who will get exhausted, buyers or sellers. As the other participant may overtake the rally in no time. 

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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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