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Terra Price Analysis: LUNA sets a new all-time high at $75.8

Terra Price Analysis LUNA sets a new all time high at

TL;DR Breakdown

  • Terra price analysis is bullish today.
  • Support for LUNA/USD was set at $75 overnight.
  • Further advancement has been made over the last hours.

The Terra price analysis is highly bullish as the coin has broken above the last set support of $75 towards a new all-time high of $75.8. LUNA retraced after setting a record high at $75.4 on 4th December. The retracement continued for only two days before LUNA started to rise again. The new bullish wave almost leveled out the record high last night, and further upside has been tested recently in the last few hours. However, this time a swing high towards $85.4 has not been seen as was observed last time though only for a short time.

LUNA/USD 1-day price chart: Bullish momentum takes LUNA to a $75.8 record high

The 1-day price chart shows the bullish momentum is there but not as much as observed during the previous record high. The market pressure is usually high at such levels. But the price oscillation was very slow at the start of the session as the market pressure was high due to the previous record high acting as the resistance now. LUNA reports an increase in price level by 12 percent over the last 24 hours as the coin is trading at $75.8 at the time of writing. Though the trading volume has decreased slightly by 2.71 percent overnight, the market cap has increased by 11.55 percent.

Terra Price Analysis: LUNA sets a new all-time high at $75.8 1
LUNA/USD 1-day price chart. Source: TradingView

The volatility is high as the upper limit of the Bollinger bands has moved up towards the $82 mark representing a possible pressure level for LUNA, and the lower limit has moved down to $30, showing a wide volatility envelope for the crypto pair. The average line of the indicator at $56 represents a support zone for LUNA.

The relative strength index (RSI) is hovering at the borderline of the overbought zone as it trades at index 69 on a straight line indicating high pressure faced by bulls in the market.

Terra price analysis: Recent developments and further technical indications

The 4-hour Terra price analysis shows the coin rallied high during the second half of the previous trading session breaking near the previous record high level. At the start of today’s trading session, the price oscillation was slow, but bulls gained momentum recently, and the coin rallied high towards a new record high.

Terra Price Analysis: LUNA sets a new all-time high at $75.8 2
LUNA/USD 4-hour chart. Source: TradingView

The volatility started to increase during the late hours overnight when the coin started racing, and the Bollinger bands started to diverge again; the upper band at $76.5 now represents resistance for the coin, and the mean average of the indicator at $68.9 represents support for the coin. The moving average (MA) is trading above the Bollinger bands average at the $70.98 mark. The RSI is trading on a straight line here as well but shows comparatively more room for a further bullish push through.

Terra price analysis conclusion

The Terra price analysis shows the coin is present at an all-time high level of $75.8. Bulls have shown good performance, but the market pressure is quite high as the coin has almost reached the overbought status on the daily chart. If the bulls gain enough momentum, then we expect LUNA to close above $76 today, marking another record high, but if the market pressure wins, LUNA will still be able to set a higher low.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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