- The price has successfully reached $41.5.
- Terra price analysis predicts bullish trend.
- Support is visibly strong at $34.31.
The latest Terra price analysis is predicting a bullish trend for the day as the price has been advancing smoothly since the past week. Although there have been instances where the bears took command, the overall lead has been for the bulls. The progress has been slow, but the bulls have managed to bring the price above the $41.49 point. An upward trend has been thus dominating the market for this week.
LUNA/USD 1-day price chart: Bullish momentum aggravates chances of progress above $41.4
The bulls have been at the upper position according to the one-day Terra price analysis. The bullish momentum has been strong enough to rescue price and allow its recovery up to $41.4 level. This is a great sign for the buyers as the price was going down earlier. Now it is headed towards its next aim once again as the bulls made a strong comeback today. The price might soon cross the moving average (MA) level as well which is at $42.214.
A cross-over between SMA 20 and SMA 50 curve was reported in the previous weeks as well. As the volatility has undergone a decline, the upper Bollinger band value is now $45.22 and the lower Bollinger band value is $34.31. Whereas the Relative Strength Index (RSI) score has improved up to 53.16 since the past week.
Terra price analysis: Cryptocurrency manages to escape $40.610 barrier
The bullish momentum has been on the rise again as can be confirmed from the four hours Terra price analysis. The price has been able to reach the $41.507 height in the last four hours which is a huge accomplishment for the bulls. That is because the cryptocurrency tackled with great loss in the earlier hours. But now the chances of progression are increasing as the price crossed the moving average level i.e. $40.61 as well.
The recent recovery has been quite encouraging for the buyers after a continual series of defeats. Moving on, the Bollinger bands Indicator is showing a change in values as well as now the upper band is at $46.26 and the lower band is at $38.63. The RSI curve has successfully surpassed the 48.3 level as well.
The overall progress of the cryptocurrency has been promising so far which is why the technical indicators chart is going bullish. We can see 15 indicators settled on the buying mark, nine indicators on the neutral mark, and two indicators on the selling mark.
The moving averages indicator is dictating a strong rise in price with a bullish signal today. There are 12 indicators that are currently on the buying side, two indicators are on the selling side while only one indicator is on the neutral side. The Oscillators are giving an edge to the bulls as well and there are eight oscillators on the neutral level, three oscillators on the buying level, and zero oscillators on the selling level.
Terra price analysis conclusion
The bulls have been able to take advantage of the present situation as the price has been uplifted to $41.5 level in the last 24 hours. The overall trend since the past week has been going in the favor of the buyers as well, with a few bearish interruptions. The price underwent considerable improvement in the last four hours as well, which is yet another encouraging sign.
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