Price Analysis

Terra (LUNA) Price Surges Above $2 While TerraClassic (LUNC) Price Display Resurgence of Bulls

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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Jul 20, 2022

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Article Highlights
  • Terra price after a pretty long time has successfully ranged above its initial target at $2 displaying immense strength within the rally

  • Conversely, LUNC just broke out from uncertainty to lay down a significant upswing but the bears are still feared to jump in any moment

Terra Classic (LUNC) Price Analysis

Terra Classic after a long time has displayed a significant bullish divergence while the bears attempt very hard to restrict the price lower. Despite the market sentiments thriving, no growth in the volume is recorded in recent times. 

Therefore, this is compelling the price to remain consolidated within the narrow regions awaiting for the bulls to enter and uplift the price. 

luncprice'

The LUNC price has currently broken up from the symmetrical triangle which is basically due to the recent price movements during the weekend. However, the RSI is still maintaining some strength while the MACD does not display strong buying volume and no selling volume either. 

Therefore the LUNC price may remain elevated but may not undergo any strong price action in the near future. 

Terra (LUNA) Price

Terra price on the other hand is undergoing a parabolic recovery ever since it dropped heavily during the first fortnight of June. The price appears to be pretty consolidated at the moment but it still may keep up the bullish momentum, overcoming the bearish impact. However, the asset may still undergo a minor pullback as bears appear to dominate the rally any time from now. 

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The LUNA price is currently hovering just above $2 and standing strong above these levels despite a rejection from $2.19 levels. The buying volume had significantly grown over a week which enable the asset to gain more than 25%. 

At the press time, the bears appear to restrict the price but may not be successful in doing so. The asset appears poised to hit the immediate resistance at $2.2. As the price is already being rejected just below these levels, it may comfortably surpass $2.19 resistance very soon. 

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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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