Price Analysis

Terra Smashed a New ATH, This is How LUNA Price May hit $200 in April 2022!

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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Apr 5, 2022

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Highlights

    Terra price is hovering close to the highs from past couple of days and managed to form a new ATH an inch close to $120

    The strength of the rally does not appear to have eased and hence the price is expected to keep up the bullish momentum and test the higher target by the end of the week

Terra Foundation’s attempt to become the single largest Bitcoin Wallet may have induced huge bullish momentum in LUNA price. And hence the asset is constantly ranging close to the ATH for the past couple of days. Moreover, after displaying extreme strength, the price remains distinct from getting exhausted. And hence it is believed that the price could easily hit $200 by the end of April 2022. 

LUNA after the fresh spike has become the 7th largest crypto asset after surpassing Cardano and XRP. On the other hand, the Terra Foundation has become the 3rd largest Bitcoin Treasury. It holds more than 30,000 BTC to back its stablecoin UST. Adding another feather to the cap, Terra’s TVL also hits an All-Time High of locking assets worth more than $31 billion. With extremely bullish market sentiments, LUNA’s price may be compelled to undergo a gigantic rally. The price could surpass $150 in the next couple of days. 

Also Read: After $0.14 Levels, These Maybe the Target Levels for Dogecoin (DOGE) Price by This Weekend!

LUNA/USDT Price Analysis for Short-Term

  • The short-term projections are extremely bullish as the price is following a strong uptrend parallel channel
  • The LUNA price is attempting hard to ease out the selling pressure completely by hovering close to the ATH at $118. And hence as the sellers get exhausted, the price may be compelled to jump back into action
  • If in case the bulls get exhausted, then decent chances of the asset dropping down below $110 are quite possible but with a quick flip, the price may again trade at $115
  • Moreover, the rebound is expected to be extremely strong and hence the Terra (LUNA) price may achieve another milestone beyond $122 by the end of the week. 

Also Read: Solana (SOL) Price To Enter Correction Phase, Here are Potential Low Levels to Watch

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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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