Terra price analysis: LUNA bulls rally as the price flashes at $85

Terra price analysis

TL;DR Breakdown

  • Terra price analysis is bullish.
  • Resistance for LUNA is present at $87.7.
  • Support for LUNA is present at $81.2.

Terra price analysis is bullish, with the market witnessing a significant boost in price levels. The bulls took charge of a rally that pushed prices up to the $85 range. The value of the crypto pair has taken a nosedive over the past few days as bearish momentum ran strong and severely damaged the coin’s value. However, today

LUNA/USD 1-day price chart: Bulls striving for the lead as they mark high goals

The 1-day chart for Terra price analysis shows that the coin price has surged high today. Bulls have covered a range from $76.8 to $85.1. The price is currently set at $85.1, as the coin has gained 3.80 percent during the last 24 hours; however, the coin is at a loss of 1.93 percent over seven days. The price has jumped above the moving average (MA) indicator, which is trading at $83.5, and the current price and the MA value are still below the SMA 50 curve due to the continuous bearish trend during the past few days.

Terra price analysis: LUNA bulls rally as the price flashes at $85 1LUNA/USD 1-day price chart. Source: TradingView

The volatility is high, which has provided the chance for the bulls to rally high, with the upper Bollinger band reaching $122.9 representing the strongest resistance for LUNA, and the lower band reaching $70.2 representing the strongest support combined the indicator suggests a vast price envelope for LUNA to oscillate within. The Relative Strength Index (RSI) score has also increased to index 44, and the indicator curve is also steeply upwards, which indicates the high buying activity in the market.

Terra price analysis: Recent developments and further technical indications

The 4-hour chart for Terra price analysis also supports the bulls as they have been in the lead for the last 12 hours and have gained significant value for the crypto pair. Bears also tried to play in after the price broke upwards at the start of the day but were soon sidelined by the bulls. The price has been recorded to cover range upwards during the last four hours as well as it has reached $85.1.

Terra price analysis: LUNA bulls rally as the price flashes at $85 2

LUNA/USD 4-hours price chart. Source: TradingView

The Bollinger Bands are displaying the following figures; the upper Bollinger band is present at $84.5 while the lower band is present at $76.8, respectively, and the price has shooted past the upper band. After traveling upwards at a sharp curve, the RSI is still moving towards the overbought boundary at index 58, but the curve has decreased a bit which hints at a slow down in the buying activity.

Terra price analysis conclusion

From the above 1-day and 4-hours Terra price analysis, we can see that the bulls are trying to fight back the bearish momentum. The LUNA/USD price levels have reached $85.1 today, which is a great achievement for the bulls after a period of huge losses. We expect the cryptocurrency to continue to gain further upside for the coming 12 hours.

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.
William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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