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Terra price analysis: Cryptocurrency shows bullish strength as price rises to $41.44

Terra price analysis Cryptocurrency shows bullish strength as price rises to

TL;DR Breakdown

  • The price is now touching $41.44.
  • Terra price analysis signals uptrend.
  • Support is relatively strong at $38.92.

The most recent Terra price analysis predicts an upward trend for the day as the chances of bullish recovery are increasing once again. Although the price dropped to a crucial level in the previous week, today’s market trend is turning in favor of the bulls. A slight rise in LUNA/USD value has been detected, as the price has reached its former high again, i.e., $41.436.

LUNA/USD 1-day price chart: Bullish trend initiates price recovery above $41.43 stand

The one-day Terra price analysis is confirming an upward price movement for the day, as the bulls are struggling to make a comeback on the price chart again. Although the cryptocurrency value underwent a severe decline in the past week, today’s market trend supports buyers. The price is now at $41.43 position as the green candlestick has returned. The moving average (MA) value is still relatively high, i.e., $43.186.

Terra price analysis: Cryptocurrency shows bullish strength as price rises to $41.44 1
LUNA/USD 1-day price chart. Source: TradingView

The volatility in the one-day price chart has increased dramatically, which means that the price might go down in the next few weeks. The upper Bollinger band shows $55.96 of value, whereas the lower Bollinger band dictates $38.92. The Relative Strength Index (RSI) score has grown up to 43.39 today.

Terra price analysis: Price heads back to $41.47 as bullish trend revives

The four-hour Terra price analysis confirms that the market has followed a bullish trend for the past few hours. A considerable rise in buying activity has been observed for the past four hours, as the price increased up to $41.5. Further recovery in LUNA/USD value is to follow if the bulls continue making their progress. If we move ahead and discuss the moving average, then its value is at the $41.16 marker.

Terra price analysis: Cryptocurrency shows bullish strength as price rises to $41.44 2
LUNA/USD 4-hours price chart. Source: TradingView

On the other hand, the volatility increases, which is not a positive indication regarding future trends. The upper Bollinger band is now settled at the $45.01 position, whereas the lower Bollinger band is at the $39.70 position. The RSI curve is moving ascendingly as well, and the score has enhanced up to 45.74.

Terra price analysis: Cryptocurrency shows bullish strength as price rises to $41.44 3
LUNA/USD technical indicators chart. Source: TradingView

The technical indicators chart for LUNA/USD indicates a negative trend as the market has faced a significant loss in the past few weeks. There are 12 indicators present on the selling point, eight hands-on the neutral point, and six on the buying point.

The Moving Averages Indicator hints at a bearish trend as well by giving out a selling signal. A total of 10 indicators are positioned on the selling mark; four are on the buying mark, while only one hand is on the neutral position. The Oscillators are giving out a neutral signal for the day as seven indicators are on the neutral side, while two indicators are on the selling and buying sides.

Terra price analysis conclusion

The daily and the hourly Terra price analysis confirms a slight recovery in the coin value today. This is quite encouraging news for the buyers, as the price underwent a substantial decline in the past few days. The bulls have taken the price up to $41.44 high after making a triumphant return in the last 24-hours. The hourly price chart is showing promising results as well as a bullish trend has been observed.

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.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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