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Terra Price Analysis: We expect LUNA/USD to spike to $55 soon

Terra price analysis

TL;DR Breakdown

  • Terra price analysis is bullish today.
  • LUNA/USD set higher low at $52.
  • Technicals are bullish.

Today, the terra price analysis is bullish because another higher low was established at $52 following a continuous decline yesterday. As a result, LUNA/USD is likely to attempt to break out above previous highs in the next 24 hours.

Terra price movement in the last 24 hours: Terra sets a higher low at $52 and prepares to push higher?

As a result of this volatility, LUNA/USD continues to trade below the upper bound of its Bollinger bands, an indicator that suggests possible changes in price through statistical deviations from the mean. Overall, LUNA/USD has established a higher low at $52 and is likely to attempt a breakout at this level.

Currently, the technical indicators are mixed; however, they remain in support of a bullish continuation today.

RSI has dropped to levels under 50 and is likely to attempt to break out from below the pivotal level.  On the other hand, both moving averages have broken above the mid-line, suggesting bullish momentum to continue.

LUNA/USD 4-hour chart: LUNA set to break higher?

The price of Terrain is gaining momentum once again on the 4-hour chart this morning, which should result in higher prices soon.

Terra Price Analysis: We expect LUNA/USD to spike to $55 soon 1
LUNA/USD 4-hour chart. Source: TradingView

In November, Terra’s price has demonstrated a lot of momentum thus far. A swing low was established at $38 on the 27th after consolidation at the end of October.

The price of LUNA/USD remained in a tight range during this time. The pair consolidated, with a lower low formed and a higher high set, suggesting consolidating. On the other hand, Terra recorded a strong higher high at $53, thanks to a break higher on the first days of the following week.

The price of Terra has since recovered to $47.5, establishing a new low that was subsequently broken. The following reaction resulted in another consolidation, implying another pause. Yesterday, LUNA/USD retested support at $49 and established another higher low.

Because of this, we anticipate that Terra will rise over the next 24 hours. Bullish momentum is picking up, suggesting that a break above the present high of $53 may be on the cards.

Terra Price Analysis: Conclusion 

The price of Terra is gaining momentum this morning. The technical indicators also support the continuation of bullish momentum today.

Ultimately, despite continuing lower than yesterday, LUNA/USD has formed another higher low at $52, which should result in a breakout above previous highs soon.

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.

Terra Price Analysis: We expect LUNA/USD to spike to $55 soon 2
Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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