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Terra price analysis: Price rises back to $51.52 as bulls recover

Terra price analysis Price retraces back to as bulls recover

TL;DR Breakdown

  • The price has climbed up to $51.52.
  • Terra price analysis favors the bulls.
  • Strong support is found at $39.52.

The one-day and four hours Terra price analysis is showing signs of an uptrend as the price has improved significantly in the last 24 hours. A constant battle between the bulls and the bears has been going on after the Terra marked a record high on 8th November. But today the bullish momentum has proved overpowering as the price has reached its former height of $51.52. Further increase in LUNA/USD value is to be expected in the upcoming hours as well.

LUNA/USD 1-day price chart: Cryptocurrency value bounces back to $51.52 high

The one-day Terra price analysis is confirming a bullish trend for the day as the price has covered an upward movement in the last 24 hours. A constant shift in price trends has been observed in the last couple of weeks, but today the bulls secured the lead. The LUNA/USD price has increased up to the $51.518 mark, and further improvement is to follow up soon. The price is quite higher than the moving average (MA) value i.e. $50.732.

Terra price analysis: Price rises back to $51.52 as bulls recover 1
LUNA/USD 1-day price chart. Source: TradingView

The Bollinger bands indicator is showing an increase in its average value i.e. $47.35. Where the upper Bollinger band is now at $55.2 position and the lower Bollinger band is at $39.52 position. The Relative Strength Index (RSI) score is going quite average and has moved up to 59.65 during the day.

Terra price analysis: Bullish trend intensifies as price grows up to $51.507

The four hours Terra price analysis is dictating a strong rise in the coin value during the last few hours. The green candlesticks have returned to the four hours price chart, and the upward trend has been getting stronger. The price has increased up to $51.52 in the last four hours as well, and further recovery can be expected as well. The moving average value in the four hours price chart is found at the $49.392 level.

Terra price analysis: Price rises back to $51.52 as bulls recover 2
LUNA/USD 4-hours price chart. Source: TradingView

The Bollinger bands are maintaining their average value at $50.07. Whereas the upper Bollinger band is showing a $53.16 value while the lower Bollinger band is showing a $46.99 value currently. The bullish trend has increased the RSI score up to 56.42 level in the last four hours.

Terra price analysis: Price rises back to $51.52 as bulls recover 3
LUNA/USD technical indicators chart. Source: TradingView

The technical indicators chart for LUNA/USD is giving out a strong bullish signal for the day. The upward trend is further confirmed by the indicators ratio, as 16 indicators are there on the buying position, nine indicators are on the neutral position and only one indicator is on the selling position.

The moving averages indicator is showing strong support for the buyers as well. We can see 14 indicators standing on the buying position, one indicator on the neutral position leaving none at the selling position. The Oscillators, on the other hand, are giving a neutral hint as there are eight indicators on the neutral position, two indicators on the buying position, and only one indicator on the selling position.

Terra price analysis conclusion

The hourly, as well as daily Terra price analysis, is giving out a positive hint regarding the price movements. Both of the predictions are going in the favor of the bulls, as the rise in bullish momentum has taken a price above $51.51. The price has covered upward movement in the last four hours as well, which means that a further increase in LUNA/USD value is to be expected 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.

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