Terra (LUNA) Rally Losing Steam: What’s Next This Week?


The Terra (LUNA) price remains in a bearish trend, with a continuous decline in the crypto market. In the last 24 hours, the Terra token has experienced a significant loss of over 11%, and over the past week, the decline has amounted to more than 26%.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

The LUNA price maintained a tight range between $0.0001327 and $0.0001457 for a period, but a loss of market momentum led to a correction of over 19%. Following this correction, the price traded sideways in a confined range between $0.00011774 and $0.0001327 for a while.

LUNA Price Dynamics: Support Levels and Bearish Moves

TradingView: LUNC/USDT

The market faced a loss of momentum, leading to the price breaking its support level. However, the bulls intervened, holding the price strong and initiating a bounce back within the range.

Following the recovery, the price traded within a range for a brief period, reflecting weak buying and selling pressure. Subsequently, as the market lost momentum again, the price recorded a bearish move, breaking down the support level.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

The price continued to be influenced by bearish sentiments, resulting in a correction of over 15%. Currently, the LUNA price is approaching a critical point, testing its support level of $0.000090, with the outcome remaining unpredictable.

Centered JavaScript

LUNA Price Analysis: MACD Signals and Key Levels

The Moving Average Convergence Divergence (MACD) reveals a rising red histogram, indicating heightened selling pressure in the market. Additionally, the averages demonstrate a consistent decline on the chart, pointing towards a prevailing bearish influence.

If the market successfully maintains the price above the support level of $0.0000900, the next target is the resistance level of $0.00009970. A strong hold by the bulls at this level could pave the way for the LUNA price to test its upper resistance level of $0.0001177 in the near future.

On the downside, a breakdown below the support level could lead the Terra price to test its lower support at $0.00007965. If bearish momentum persists, the token may experience a further drop, potentially testing the support level of $0.00006931 by the weekend. These key levels provide a roadmap for potential price movements in the coming days.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.


Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News



    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

    View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *