- The price is going down according to Terra price analysis.
- Price levels have been lowered till $37.34 today.
- Support is still steady at $28.01 level.
The price is moving downwards once again in the latest Terra price analysis as the bearish hold on the market is getting stronger. The price increased in the past week tremendously, yet it is experiencing a downfall once again as the bears are trying to make a comeback. The price has dropped down to $37.345 of value during the day and it is expected that it will face further decline in the coming hours as well. In short, the bears are trying to evade the way for the lead after a long gap.
LUNA/USD 1-day price chart: LUNA price headed down once again after the recent turn over
The 1-day Terra price analysis is showing signs of bearish activity as the price has decreased considerably during the day. The past week has been quite favorable for the bulls, but right now the bears are in the leading position. The price has moved down to the $37.34 level as a result of the increase in bearish momentum. The moving average (MA) value is also standing low as it is resting on the $36.6 position currently.
The volatility has decreased today which should be taken as a positive hint regarding the future trends as the price is still in the higher price envelope. Moreover, the Bollinger bands Indicator is showing a change in values as well as now the upper value is $41.36 and the lower value is $28.01. The Relative Strength Index (RSI) score has decreased to a certain degree as well as it is at 54.55 after the recent collapse.
Terra price analysis: Red candlestick appears alluding to significant drop in the price
The 4-hours Terra price analysis is indicating a decrease in price after the bearish candlesticks have returned to the price chart. The bearish momentum has resulted in the price going down to its current value which is $37.31. The moving average is still lower than the current price i.e. $36.92 as the bears have been largely in control during the day. Although the price improved substantially earlier, the most recent trend has been bearish.
The volatility has increased significantly during the last four hours, which is why the Bollinger bands average is now at $35.68. The upper and lower Bollinger bands values are as such; the upper value is standing at $38.87 while the lower value is standing at $32.49. The RSI score has gone down to 55 again after the downward trend.
The overall trend for cryptocurrency has been bullish as the price has been at its highest if compared to the previous months. This is why the technical indicators chart is giving a bullish signal as there are 16 indicators standing on the buying mark, nine on the neutral, and only one standing on the selling mark.
The Moving Averages Indicator is indicating the bullish win as well as the price has been located at its highest point during this month. There are a total number of 14 indicators that are present on the buying position, while only one indicator is on the neutral and zero on the selling positions. The Oscillators are giving out a neutral signal because of the ongoing fluctuations, with eight oscillators on the neutral, two on the buying, and one on the selling positions.
Terra price analysis conclusion
The above 1-day and 4-hours Terra price analysis shows signs of bearish activity as the price has covered downward movement today. The price is now resting at $37.34 and is expected to go down again. Although in the past week, the market had been quite supportive for the buyers, now the selling momentum is on the rise once again.
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