Price Analysis

Terra’s Beast Mode Appears To Have Faded! What’s Next For LUNA Price?

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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Dec 6, 2021

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Highlights

    Terra price smashes ATH recently while most of the crypto assets kept bleeding and attempting to regain their lost positions.

    LUNA price is attempting to regain the lost positions very quickly which may higher the assets position to become the 9th largest asset

The crypto space experienced a massive slash in the past weekend. And since then most of the assets are attempted to regain the lost momentum. Being out of the crowd, Terra (LUNA) price smashed through the barriers and formed a new ATH. Woefully, the asset is currently witnessing a notable dump, but a substantial rebound may initiate very soon. 

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In the past weekend, many cryptos including Bitcoin, Ethereum, etc were available at discounted prices. Yet Terra price kept trending towards the north and discovering new highs. However, the price soon after climbing the highs close to $78, quickly fell into bearish divergence and dropped to $60.82 levels. 

LUNA price has showcased extreme price movements in the past couple of days, Despite dropping to a large extent, yet the price experienced a steep V-shaped recovery. Woefully, post to the recovery, yet the asset fell into the same bearish divergence. But to everyone’s surprise, the asset is trying hard to undergo another ‘v-shaped recovery. If in case, the asset recovers back to its initial positions, Terra can be considered as one of the strongest assets in the crypto space. 

Collectively, Terra (LUNA) price with the recent jump has become the 10th largest crypto asset according to the market cap. The asset flipped Dogecoin & Avalanche to secure the current position. Despite the pullback, yet the asset is primed to head towards the 9th position flipping Polkadot. LUNA may continue discovering new highs above $80 once it clinches through resistance levels at $69.09. 

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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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