Terra Price Continues Moving North; How Soon Will It Cross $100?
April 21 2022 - 4:30PM
NEWSBTC
Terra (LUNA) has made a considerable comeback given the slump that
the coin underwent a little over a week ago. The broader market has
also regained strength which has proved to be beneficial for the
industry’s altcoins. Bitcoin and Ethereum have steadied above their
immediate price floors. The prominent coins were eyeing the next
price ceilings at the time of writing. Over the last 24 hours, the
coin rose over 4% and in a week’s time, Terra brought home gains
worth 13%. Among the top ten coins, Terra (LUNA) remains one of the
highest gainers. The global cryptocurrency market cap today was at
$2.04 trillion and there has been a gain of 1.3% over the past day.
Terra (LUNA) Price Analysis: Four-Hour Chart
Terra’s bulls have regained
strength and the prices were bordering $100. At the time of
writing, Terra was valued at $99.27. The immediate resistance mark
for the coin once it crosses the $100 mark would stand at $106. The
support level for the coin stood at $91.82 and failed to sustain
over which the coin fill fall to $83.81. The price of the coin was
seen moving upwards in an ascending channel. A price pullback could
be on the charts given how the coin has secured a double-digit gain
over the past week. The volume of Terra was seen closing in the
green which signified that the coin witnessed bullishness. A small
bar suggests that the coin hasn’t been experiencing high selling
volume and also that people have continued to HODL. Suggested
Reading | Conquering Terrain: Terra’s Stablecoin UST Is Now
Crypto’s Third Biggest Technical Analysis Terra was priced at
$99.27 at the time of writing. After recovering considerably over a
week, the buyers seem to have regained confidence in the asset. On
the Relative Strength Index, the coin displayed a sharp recovery.
The indicator was seen above the half-line, near the 80-mark. This
reading meant that buyers were in excess in the market. The asset
was overbought at the time of writing. It is a possibility that if
the coin remains in the overbought zone for a little longer, then
there could be a chance of price correction. Related Reading |
Inside Terra’s $2.38 Billion Reserves, What Made The Lineup? Terra
has picked up bullish momentum on the four-hour chart | Source:
LUNA/USD on TradingView.com Terra was bordering its immediate price
resistance, however, the coin was rejected from $100 for a week or
so. The price momentum of the coin was quite bullish as seen on the
MACD. The indicator underwent a bullish crossover and displayed
green bars at the time of writing. The Directional Movement Index
indicates price momentum and it displays positive price momentum on
the four-hour chart. The Average Direction Index (ADX) also was
seen above the 25-mark which is a sign of market strength and
upside movement. In accordance with the other indicators, Terra
might aim for the $106 price mark over the immediate trading
sessions which would mean a 7% appreciation for the coin. Featured
image from UnSplash, Charts from TradingView.com
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