- The price is going down according to Terra price analysis.
- Terra price analysis is bullish today.
- Luna is currently trading at $44.
The first drop occurred on the last day when the price fell to $37.01 just before resuming its ascent. This market’s $37 mark is crucial because it was previously said that resistance would be anticipated at this point. However, recent increases have seen the price shoot up dramatically, overcoming all of these boundaries and even reaching $48 today. This demonstrates that demand is once again returning to the market.
We may, however, see further dips later as more sell orders are entered into the market by traders unwilling to keep their assets for extended periods before selling them off.
Some positive developments may occur in future Terra price analysis reports, with some investors seeing the falling price as a sign of a favorable entry point for further investments.
On the other hand, the bearish pressure is still very strong at this current moment, so it will be interesting to see whether or not any of these optimistic predictions are eventually realized. If not, then we might see the value continue to fall over the next few days and weeks, potentially breaking through many of its already established support levels along the way.
LUNA/USD 1-day price chart: LUNA price headed down once again after the recent turnover
The 1-day Terra price analysis shows signs of bearish activity as the price has decreased considerably. The past week has been quite favorable for the bulls, but the bears are in the leading position right now. The price has moved down to the $37.34 level due to the increase in bearish momentum. The moving average (MA) value is also standing low as it is currently resting on the $42 position.
The $31.82 price envelope has not been broken yet, which might be interpreted as a bright signal for future trends since the price is still in the higher range. Furthermore, the Bollinger bands Indicator has altered values, with the upper value now being $41.36 and the lower value is $38.01. The Relative Strength Index (RSI) score has decreased somewhat, standing at 54.55 today after yesterday’s drop.
Four-hour LUNA/USD chart: Positive price trends
LUNA/USD 4-hours price chart. Source: TradingView
The bearish hold on the market is strengthening once again, with the price falling in the latest Terra price analysis. The price leaped forward during the last week, but it has now dropped again as bears attempt to reclaim lost ground. During the day, the value plummeted down to $40.345, indicating that it will face more depreciation in the coming hours.
This is due to the low supply and demand in this market. The $28.01 level is still holding strong, with the price maintaining its stability at around $40.95-$36. As such, we might see an attempt to rally in the future as many investors are moving their money back into cryptocurrencies following a period of relative uncertainty and doubt.
Terra price analysis conclusion
The current price situation for Terra does not provide any indication that a bullish breakout is imminent. The price will either fall further or attempt one more push before entering another stretch of relative inactivity and uncertainty; only time will tell which path the market will take. For the time being, there is no need to be emotionally affected by changes in the baseline.
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