TL;DR Breakdown
- Terra price analysis is bullish today as a higher low was set above $40.
- LUNA/USD moved towards $45 today.
- Next resistance at $49.
Today’s terra price analysis is bullish as a higher low was established at $40 following a robust retracement yesterday. As a result, we expect LUNA/USD to advance further in the coming 24 hours.
The overall market traded with mixed results over the last 24 hours. The market leaders, Bitcoin and Ethereum both traded in the red, with a loss of 2.88 and 2.99 percent, respectively. Meanwhile, Solana and VeChain (VET) dominate the market, with a gain of around 7.5 percent.
Terra price movement in the last 24 hours: Terra retraces to $40, continues higher
LUNA/USD has been trading in a range of $42.61 to $44.46, with mild volatility over the last 24 hours. Trading volume is down 6.1 percent and stands at $1.61 billion, while the overall market cap is worth about $18 billion and places the coin in
LUNA/USD 4-hour chart: LUNA looks to break $45?
On the 4-hour chart, we can see strong bullish momentum today for Terra price action as a new higher low was established at $40.
After a spectacular run in the first week of October, Terra’s price action has been moving lower. After reaching a new swing high of $49 on the first week of October, a bearish trend has returned in recent weeks.
However, after attempting to rise higher, the price of LUNA/USD reversed. Consolidation above $35 for more than a week followed a correction of almost 30 percent.
On October 19th, the price of Terra rose up strongly, reaching $44 before a rapid retracement back to $40 yesterday. Since then, LUNA/USD has increased in value, possibly leading to a rise past the $49 local resistance today.
Terra Price Analysis: Conclusion
The rise in the price of Terra is continuing to attract attention today, as a new higher high has been established following a retracement back to $40 yesterday. We anticipate further growth later today after LUNA/USD rapidly recovered.
While waiting for Terra to move further, read our guides on LTC wallets, Gero wallets, and DeFi wallets.
