Price Analysis

Which Will Enter the Top 5 Surpassing Cardano & XRP, Terra(LUNA) or Solana(SOL)?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Feb 26, 2022

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Highlights

    Terra(LUNA) showcases huge possibility of continue with the gigantic rally until it forms a new ATH anytime from now

    On the other hand, Solana that had ignited a bull run with Terra is expected to follow the DeFi token with an aim to enter the top 5

Terra(LUNA) Price Analysis

Terra’s price from the past couple of days has ignited a huge uptrend remaining less impacted by the recent economic turmoil. Yet the large influx of volume showcasing the immense confidence of the traders induced huge strength in the rally. And hence the asset does not appear to be unstoppable until it forms a new ATH. 

The asset after the recent spike ranged high by more than 30% and consolidated for a while forming a notable bullish flag. And as an outcome, the asset broke out from the pattern and surged another 17%. Interestingly, the asset is yet again consolidating and forming a similar pattern. And hence even if the price breaks out, then surpassing the immediate resistance at $80 may be imminent. Further forming a new ATH may not be difficult for the asset. 

Also Read: Attention Traders!! This Altcoin May Come-Out to be the Best Bet of 2022!

Solana(SOL) Price Analysis

Solana price is maintaining a notable trend for the past couple of days as it recovered from the losses quickly. The platform had witnessed a spike in the volume then which appears to have faded at the moment. Despite the fact, the SOL price may undergo another leg up before plunging heavily towards the lower support levels. 

The SOL price as seen in the chart underwent a notable rally to hit a 3-digit figure at the earliest. However, the rally was limited to $95 each time it attempted to rise high. Yet after the recent rejection, the price is expected to try out for another time. And if it gets rejected yet again, then a drastic plunge may drag the price to the lower support around $82. No doubt the asset may ignite a quick rebound, but the strength of the rally may get hampered.

The levels at $82 appear to be pretty important as the LUNA price is attempting to achieve while the SOL price is feared to plunge back. And hence carrying the diverse predictions, Terra price may have a little upper hand over the Solana price rally and hence it may enter the top 5 if maintained at the current pace. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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