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Terra price analysis: LUNA declines to $48.9

LUNA

TL;DR Breakdown

  • Terra price analysis appears to be bearish.
  • The strongest resistance is present at $59.
  • the strongest support is present at $47.

The Terra price analysis seems to follow an uptrend with shaky bearish dynamics. However, the price has experienced a slight inclining trend and has increased price. On February 20, 2022, the price for LUNA went from $47.3 to $48.9. The cryptocurrency has shown impressive dynamics today and is now showing potential to rise even higher. LUNA has $50 and the potential to achieve the cryptocurrencys’ goal.

LUNA/USD 4-hour price analysis: Latest developments

The Terra price analysis has revealed market volatility to be following a declining trend, making the cryptocurrency’s price more vulnerable to variable change. The upper limit of the Bollinger’s band is present at $55.4, which acts as the strongest resistance for LUNA. Conversely, the lower limit for the Bollinger’s band is available at $47.1, which represents the strongest support for LUNA.

The LUNA/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. The market trend seems to have strong bearish momentum with significant bullish opportunities, and the price is likely to increase. The price pat appears to be moving in a downwards trend, almost shifting towards an upwards trend indicating an increasing market.

Terra price analysis: LUNA declines to $48.9 1
LUNA/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 37, which means that cryptocurrency slightly falls into the undervalued category; the buying exceeds the selling activity. The RSI can be seen to follow an upwards approach that reflects the possibility of the cryptocurrency getting saturated in the market, leading to a reversal and depreciating its value.

Terra price analysis for 1-day: Market tightens

The Terra price analysis shows market volatility following a declining trend. The cryptocurrency price is becoming less prone to undergo a variable change; the LUNA/USD price opportunities subject to fluctuations also follow a declining movement. The upper limit of the Bollinger’s band is present at $59, which acts as the strongest resistance for LUNA. Conversely, the lower limit for the Bollinger’s band is available at $47, which represents the strongest support for LUNA.

The LUNA/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with declining volatility signifying the bear’s hold on the market. The price path appears to be following a strong downtrend which counters the volatility. The LUNA/USD value might break the support and reverse the market dynamic.

Terra price analysis: LUNA declines to $48.9 2
LUNA/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) has 39, which means that the cryptocurrency shows no signs of falling into the undervalued or the overbought lot. RSI appears to be following a slight downwards movement signifying a depreciating value for Terra. The selling activity exceeds the buying activity, due to which the RSI score declines.

Terra Price Analysis Conclusion

Concluding the Terra price analysis, we can deduce that the market is currently following a bearish movement. However, the 4-hour analysis suggests that a reversal is to be expected sooner than later, the market will feel some pressure, but as the support remains strong at the $47 mark, the value will not be falling below it. The price of LUNA/USD is anticipated to rise to new heights by next week.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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