Over the previous 24 hours, LUNA/USD has moved in a range of $58 to $62, suggesting high volatility.
The market capitalization of cryptocurrency declined 0.45% in the last 24 hours as main coins Bitcoin and Ethereum went below significant milestones. On the top cryptos chart, Polkadot and LUNA both traded well while compared to others.
Terra (LUNA) has surpassed Bitcoin (BTC) as the most valuable cryptocurrency token by market capitalization. The LUNA coin has risen as a result of Chiron’s $50 million crowdfunding for Terra projects.
LUNA Price Analysis
Terra currency is currently trading at around $58 and has lost more than 4 percent of its value in the intraday session.
The Terra price movement is consolidating, indicating that bulls are likely to seize the momentum later. LUNA/USD peaked around $70 during the closing days of November before falling to $50 last Friday, along with the rest of the market.
The Terra price dropped lower yesterday, immediately plunging below $60, after a third attempt to climb higher yesterday only managed to hit the $72 mark. For the time being, the freshly discovered low is likely to suffice, and LUNA/USD is poised to retrace and record another lower high in the coming days.
The price of the LUNA coin has been consolidating and is expected to reach a new high in the near future. In the future, the LUNA/BTC pair may show a significant trend. From November 30 to December 10, the token’s value climbed by $10.51, or 17%.
Terra (LUNA) has the potential to hit $80 by the end of December, making it a good buy. At the time of writing Luna is 24 percent down from its recent ATH at $77 on December 5.