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Terra Luna price analysis: LUNA/USD remains bullish at $91

LUNA

TL;DR Breakdown

  • Terra Luna price analysis appears to be bullish.
  • The strongest resistance is present at $105.8.
  • the strongest support is present at $85.

The Terra Luna price analysis seems to be moving positively following the new year. The price has experienced a massive inclining trend and has brought the price high up. On January 1, 2022, the price for LUNA went from $85 to $91.6. The next day the price went as high as $92 only to decline further to $88. On January 3, 2022, the price rose again following a positive trend and reached $91.7, which is the current price of LUNA/USD.

LUNA/USD 4-hour price analysis : Terra Luna decides on bullish

The Terra Luna price analysis has revealed market volatility to be following a quiet trend which means the price of a cryptocurrency is less likely to meet volatility. The upper limit of the Bollinger Band is present at $93, which acts as the strongest resistance. The lower limit for the Bollinger Band is available at $85, which represents the strongest support.

The LUNA/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. The market trend seems to have been fluctuating in the past few days, but the market has finally decided on staying bullish. The market shows strong bullish dynamics with the opportunity to increase the momentum.

Terra Luna price analysis: LUNA/USD remains bullish at $91 1
LUNA/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 57, which means that cryptocurrency does not fall into the undervalued or over-bought category; it simply shows no signs towards either extreme. The RSI can be seen to follow an upwards approach that reflects the possibility of increased value and a chance for bulls to take complete control of the market.

Terra Luna price analysis for 1-day: Bulls maintain their control of the LUNA/USD market

The Terra Luna price analysis shows market volatility following a declining trend, meaning that the price of the cryptocurrency is becoming less exposed to undergoing variable change. This means that the LUNA/USD price opportunities subject to fluctuations also follow a declining movement. The upper limit of the Bollinger Band is present at $105.8, which acts as the strongest resistance. The lower limit for the Bollinger Band is available at $63.2, which represents the strongest support.

The LUNA/USD price appears to be crossing over the Moving Average curve, indicating a strong bullish trend. The market remains bullish, with declining volatility leading to a strong bullish trend being maintained. This may be an indication that the cryptocurrency will soon achieve maximum stability.

Terra Luna price analysis: LUNA/USD remains bullish at $91 2
LUNA/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) has 62, which means that the cryptocurrency shows signs of falling into the over-bought category soon. RSI can be seen following a slight inclining path which indicates a future overbought stock that may result in a reverse trend

Terra Luna Price Analysis Conclusion: A bullish New Year for LUNA/USD

The conclusion of the Terra Luna price analysis shows that the current behavior of the cryptocurrency indicates that it is following a stable bullish trend that is unlikely to reverse soon. LUNA/USD has climbed elegantly to the $93 mark; the price reached $92.43 on January 2, 2022; however, the price has started fluctuating since then. The observations based on the charts show a further incline in the cost of the cryptocurrency but also indicate the risk of entering the over-bought category, which may potentially result in a reverse trend.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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