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29 March 2024
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Terra Price Analysis: LUNA Providing Hopes to Investors Preparing for a Bullish Rally

  • Terra price is trading with strong uptrend momentum and has gained more than 10% of its market capitalization in the last three consecutive trading sessions.
  • The crypto asset is trading below 20 and 50 SMA and stands above 100 and 200-days Daily Moving Average.
  • The pair of LUNA/BTC is at 0.002206 BTC with an intraday gain of 3.75%.

Terra price is trading with a strong uptrend momentum over the daily chart. The token has shown very promising factors to the investors. The LUNA coin is accumulating bulls to register its breakout. LUNA must accumulate more buyers to the rescue. Trading volume is low and needs to grow for LUNA to reach the primary resistance level.

Terra price is presently CMP at $84.91 and has gained 3.18% of its market capitalization in the last 24-hour period. Trading volume has increased by 10.57% in the intraday trading session. This is a very low margin and LUNA coin must gather more buyers to maintain the strong uptrend momentum. Volume to market cap ratio is 0.06415.

Terra coin is trading with uptrend momentum over the daily chart. The token is trying to maintain the trend. However, volume change can be seen below average and needs to grow for LUNA to maintain its uptrend momentum. Otherwise bears may strike and pull LUNA back with peer selling pressure. 

Support at the lower end is at $77.40 and resistance on the higher side is at $97.00.

What do Technical Indicators Suggest about LUNA?

Source: LUNA/USD by TradingView

Terra price is trading currently with uptrend momentum over the daily chart. The token must maintain the uptrend momentum to reach the primary resistance level. Technical Indicators suggest that LUNA coin may experience a breakout being in uptrend momentum. Relative Strength Index showcases neutrality for Terra coin. RSI is at 45 and investors can expect any directional change as soon as RS reaches 50.

MACD exhibits uptrend momentum of the LUNA coin. The MACD line is below the signal line and approaching upwards for a positive crossover. 

Conclusion

Terra price is trading with a strong uptrend momentum over the daily chart. The token has shown very promising factors to the investors. Technical Indicators suggest that LUNA coin may experience a breakout being in uptrend momentum. Bears may strike in between and pull LUNA back with peer selling pressure. 

Technical Levels

Support Levels:

Resistance Levels:

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. 

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