Key Takeaways:
- Tron(TRX) price continues to remain strong amid the deep bearish market sentiments and marks itself among the top gainers for the day
- Conversely, Terra (LUNA) price struggles to sustain above $1 after hitting the levels beneath, standing among the top losers of the day
- Considering the trader’s perspective, whether LUNA is worth holding or TRX which maintains a slow yet steady upswing, is to be ascertained
How High will Terra (LUNA) Price Go in May 2022
Terra price is currently witnessing the most horrible nightmare in its history. After struggling hard for nearly a year to achieve a 3-digit figure by surging more than 2000%, the price fell by more than 10x from its highs. Moreover, it lost nearly 12K% since May 5 alone which slashed the price from $88 to as low as $0.7.
At present no possibility of recovery or pausing the ongoing downtrend is witnessed as the price has broken all the crucial support. After hitting 10-month low levels, LUNA’s price may still discover new lows as selling volume mounts heavily and the possibilities of adding up another zero also emerges. However, the asset could consolidate for an extended period but a v-shape recovery may be off-the-track for a prolonged time.
How High will Tron (TRX) Price Go in May 2022
Tron price is marking significant strength in the recent times by recovering losses quickly and steadily. Currently, after dropping from its highs, the price was undergoing a parabolic recovery but the current market movements hindered the rally. However, the asset is consolidating very hard and attempting a steep recovery at the earliest.
Presently, the TRX price still maintains its uptrend line that it is following since the beginning of May’s trade. And hence a significant upswing may be expected in the upcoming days. The price may quash the bearish pressure to regain value at $0.09 initially and with an extended upswing may also eliminate the zero in its price very soon.
Additional Read: 8 cryptos with low transaction fees
Terra(LUNA) Technical Analysis
Source: Tradingview
- LUNA price is undergoing an acute price crunch as the asset is still on its way to finding new lows
- After breaking down a forming a couple of bearish flags, the price is all set to plunge harder as an outcome of a fresh flag formed
- Therefore, the price if failed to halt the bearish trend may eventually slide below 0 and trade somewhere around $0.09 to $0.08
- As the traders appear to have lost a huge trust, the possibility of recovery is extremely negligible
Check out the Latest Prices, Charts, and Data of LUNA/USDT.
Tron(TRX) Technical Analysis
Source: Tradingview
- Amid the current bearish market conditions, the TRX price is maintaining a significant uptrend
- The price is ranging high along a significant uptrend line and despite the price slipping beneath for a while, regained its position quickly
- Therefore, following its trend within an ascending triangle, the price is expected to maintain a strong uptrend to reach the apex at $0.088
- However, beyond these levels, a breakout may escort the price beyond $0.1, slicing through the pivotal resistance at $0.09
Check out the Latest Prices, Charts, and Data of TRX/USDT.
Terra(LUNA) vs Tron (TRX): Analysis
| Comparison Basis | Terra (LUNA) | Tron (TRX) |
| Launch date | 2019 | 2017 |
| Founders | Daniel Shin and Do Kwon | Justin Sun |
| Blockchain protocol | Terra network | TRON Protocol |
| Token type | Native | Native |
| Use case | It’s a fiat pegged stable coin and acts as a governance token for the LUNA coin holders. | It helps in receiving airdrops, receiving credit card payments, and purchasing items from WeChat stores. |
| Market Cap* | $818,223,919 | $6,907,074,913 |
| Circulation Supply** | 530,700,731.01 LUNA | 98,188,384,004 TRX |
| Consensus method | Delegated Proof-of-stake (DPoS) | Delegated Proof-of-stake (DPoS) |
MarketCap* and Circulation Supply** as of May 2022
Source: CoinMarketCap
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