Terra Price Analysis: LUNA coins downtrend stopped above $ 4

  • The LUNA coin price is currently in a consolidation phase with a hint of downward momentum. It could drop to a low of $ 4 before retracing bull action.
  • The technical indicators of the Terra coins suggest a downward trend, but of weak strength. Meanwhile, the LUNA / BTC pair is observing a 1.91% loss in the intraday session

Why invest in LUNA Coin?

The price of the LUNA coin is currently close to the value of $ 5.66 with a loss of 1.66% in the past 24 hours. It is currently seeing a consolidation with a hint of downward momentum. The ROI of the LUNA coin is more than 240%, which has always remained a selling point for investors. It is a blockchain-powered platform that uses fiat-backed stablecoins to operate price-stable payment mechanisms. The project initiated from 2018 and its mainent was started for users in 2019. LUNA holders can submit the governance proposal and vote on it. From 2020 they will be offering stable coins backed by the US dollar. The Terra token price is in a consolidation phase but may soon reach new heights.

LUNA token has a market capitalization of more than $ 5,833,242,037 and a market dominance of 0.17%. The volume of the token, along with its market capitalization, has seen a decline over the past few days. The volume to market capitalization ratio of the coin suggests a downward trend for the coming weeks.

Technical indicators of the LUNA coin price point to a declining dynamic

Source: trade view

The LUNA coin is currently in a downward trend on the technical weekly chart and can continue in the same way in the coming weeks. The daily chart of the LUNA price suggests a downtrend for the near future. The resistance of the Terra coins can be observed near the $ 8 value during the uptrend. In the meantime, the bounceback area can be observed at $ 3. Asset price is currently trading below the 50 and 100 daily moving averages, with a negative crossover in the past. The 100MA line (yellow) is close to $ 7.15, making it a temporarily hostile region for the coin. When the coin price jumps above $ 10 it can go as high as $ 25. The LUNA / BTC pair is currently seeing a downtrend but may soon hit new highs in the future

Conclusion

The LUNA coin price is currently seeing a downtrend, but may soon return to bullish momentum. The LUNA / BTC pair could also hit new highs in the coming days. You can position your funds in Terra according to the price action

Technical levels

Main grant: $ 3

Main Resistance: $ 8

Have this news sent to you personally via Telegram. Join our Telegram for related news and information on CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN ​​NEWS and Price Prediction

Comments are closed.