Crypto Technical Analysis

Terra LUNA Technical Analysis: Will LUNA Price Hit a 4-Digit Milestone in 2022?

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Key Takeaways

  • The LUNA price closed the previous day’s trade at $73.14 with a market capitalization of $25.49 billion with a circulating supply of 380,103,946.05 LUNA
  • LUNA price maintains a steep jump since the past couple of days gaining nearly 50% of the value 
  • Yet the price appears to be primed to test the crucial levels around $85 to rally further to form a new ATH soon

Terra(LUNA)/USDT Technical Analysis at a Glance

The Terra price was swinging within a consolidated trend since the beginning of the month in between $47 to $60. In an attempt to barge in through the resistance levels, the LUNA price spiked high clearing the $60 barrier. Interestingly, the asset maintained a significant uptrend despite the crypto space being negatively impacted due to external factors. And hence maintaining the bullish momentum, the LUNA price is assumed to hit $100 very soon. 

Short-Term The price is maintaining a notable uptrend for the past 24 hours and may continue to do so as no strong signs of a pullback or a correction is seen currently
Mid-Term A similar trend may be expected in the mid-term as the price appears to be on its way towards the predetermined target
Long-Term A significant uptrend has been mounted on the platform and hence the uptrend may continue despite a couple of minor pullbacks

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 76.36 / 70.5 Overbought / Buy
MACD(12,26) 2.763 / 1.56 Buy / Buy
Average Directional Index(ADX) 39.05 / 21.91 Buy / Buy
Bull-Bear Power 5 / 28.1 Buy / Buy

Terra’s (LUNA) price is in a pretty strong position in both the short-term and long-term. Despite the extreme bullish momentum that prevails, the possibility of a slight pullback may be expected. As the RSI in the STF is hovering in the overbought regions for the past 24 hours. And showing minor possibilities of a pullback, yet in the HTF it’s heading towards the north. As the bull-bear power is bullish in both the time frames, the uptrend may be intact.

The MACD is displaying mounted buying pressure in both the time frames. And despite the selling volume trying to soar, it quickly eases out with intensified buying. On the other hand, the ADX which determines the strength of the price rally is extremely bullish in both time frames. 

Additional Read: Ukraine-Russia Crisis: Impact on Crypto Investors

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 $66.08 $61.96
Moving Average(MA)-200 $55.74 $51.45
Resistance $80.5 $88.69
Support $66 $47.64

The current price of Terra has successfully surpassed the pivotal zones along with 50-day & 200-day MA levels in both STF & HTF. And hence heading strongly towards the immediate resistance which is pretty strong. Once the $80 barrier is tested and cleared firmly, the LUNA price may intensify its uptrend to hit the target at $100 very soon. Yet the support levels are at a huge distance and currently no possibility of a pullback is witnessed. 

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 60.4 53.95
Ultimate Oscillator 64.9 70.7
Average True Range(ATR) 1.73 5.69
CCI 154.49 253.76\

A stochastic Oscillator is usually used to estimate the average price levels of the asset within a stipulated time frame. The indicator is pretty bullish in the short-term while neutral in the long term, meaning, the LUNA price is above the average range in STF. On the other hand, the CCI which denotes the change in trend or recognizes the formation of a new trend is also pretty bullish. 

However, the Ultimate oscillator which considers 7, 14 & 28 MA levels to determine the next plan of action, is also notably bullish. Lastly, the volatility indicator ATR suggests the asset is less volatile and hence no drastic change in the trend may be expected shortly.

Additional Read: How to Mint NFTs?

LUNA /USDT Technical-Analysis for Short-Term

Source: Tradingview

  • The LUNA price has ranged extremely high but with a notable squeeze in the resistance and the support levels
  • Therefore a slight possibility of retracing back towards the immediate support around $75 is quite possible as the asset is trending within the rising wedge and almost has reached the apex
  • However, if it fails to sustain the immediate support, then it may plunge towards the strong support at $67 and ignite a rebound. 
  • It is pretty clear that irrespective of the plunge, the asset appears to be primed to rebound and surge effectively.

LUNA/USDT Technical-Analysis for Long-Term

  • The LUNA price ever since ignited with a monstrous bull rally maintained a notable uptrend line
  • However, since the beginning of the present trading month, the asset fell off from the line and hovered below the levels for quite a long time
  • Yet with the recent surge, the price not only sliced through the trend line but also tested one of the major resistance zones in between $76 to $80
  • A pierce through this zone and a strong clearance is much required to maintain a notable uptrend to achieve the $100 target at the earliest.
  • Yet the buying volume has accumulated to a notable extent, leaving no room for the sellers to dominate, therefore certifying a notable uptrend that may be unstoppable until it forms a new ATH

Terra (LUNA)/USDT Technical-Analysis for Today: 24 February 2022

The Terra platform has experienced a huge influx of liquidity in the past couple of days, which has assisted the price to range high, surpassing crucial levels. Currently, the asset is finding strong support in case the bears try to pull back the price. Yet the price appears to be extremely poised to surge towards the upper resistance at $80 very soon. And hence the price may continue to form higher highs and lows until it smashes the desired targets

The LUNA price at the press time is $76.1 with a jump of more than 16% compared to the previous day’s close. The trading volume has dropped more than 21.69% yet standing at $3.9 billion, while the market cap has witnessed a 16% jump. 

Where & How to Buy Terra (LUNA coin)

Buying or Selling Terra(LUNA) or any of your desired crypto is pretty simple, easy but highly secure on CoinDCX. CoinDCX is the most reliable cryptocurrency exchange which believes in smooth & hassle-free trades, rendering top-notch security. And for this reason, we have achieved a huge milestone of 1 Crore(10 million) users on CoinDCX. 

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Once done, just fund your wallet and buy your favorite crypto!


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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