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Terra Price Analysis: LUNA/USD bullish momentum continues today

Vechain Price Analysis

TL;DR Breakdown

  • Terra price analysis is bullish today.
  • LUNA/USD saw a strong reversal yesterday.
  • Closest resistance at $66.

Today’s Terra price analysis is bullish, as we anticipate further gains to follow after yesterday’s high of $62 was breached. We believe that LUNA/USD will hit the $66 mark as the momentum remains strong.

The MACD line has crossed over the red signal line, which signifies that the bullish momentum is gaining momentum. The value of Terra price analysis today has increased compared to yesterday’s low, signaling a growing positivity among traders.

Terra Price Analysis Yesterday’s high for Terra price analysis was at $62, but after an initial resistance at $60 could not be breached, the market went into consolidation. The volume was high during this time, and the market is now seeing a strong reversal.

In short, Terra price analysis is bullish today as we anticipate further gains to follow after yesterday’s high of $62 was breached. The next target for LUNA/USD looks to be at the $66 mark, as the momentum remains strong.

The Terra price is currently at $62 and is seeing a strong bullish trend today. The MACD line has crossed over the red signal line, which signifies that the bullish momentum is gaining momentum. The value of Terra price analysis today

This all leads us to believe that Terra and LUNA will continue increasing in price today. The next resistance level for LUNA/USD is $66, so we predict this will be the next target for the coin.

Yesterday, Terra price analysis showed that the coin was bullish as it surged to a high of $62. The market momentum is still strong today as the MACD line has crossed over the red signal line, indicating that the bullish momentum will continue. The Relative Strength Index is above 50, confirming that the market is in a bull phase.

LUNA/USD 4-hour chart: LUNA ready to break $66 next?

On the 4-hour time frame, we can see that the Terra price is still ascending today, suggesting a breakout above $66 is possible next.

Terra Price Analysis: LUNA/USD bullish momentum continues today 1
LUNA/USD 4-hours price chart. Source: TradingView

The price of Terra has been falling for the past week. Following the market’s peak at $79 on December 4, subsequent attempts to rise any higher were thwarted.

On December 10, the market structure came crashing down as a potential lower low was established at $53 after many days of decline. Since then, LUNA/USD has made another low peak at $60.

However, after yesterday’s negative trend reversed, LUNA/USD rose over $54, surpassing the previous high. Throughout the night, more gains were recorded, bringing us to our current bid level of $66.

Terra Price Analysis: Conclusion 

The $62 support was shattered yesterday, and the price has continued to rise today. As a result, LUNA/USD is expected to climb even further in the next 24 hours, with the nearest resistance at $66.

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.

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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