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Terra (LUNA) Technical Analysis

The price of LUNA rose to $45.01 on October 20, when the bears tried to stop the upward movement. The price fell from the general resistance, but the bulls defended the break-even level on October 21 at $39.75.

Terra (LUNA) price rallied to $45.01 on October 20 as the bears tried to stop the upside move. The price declined from overhead resistance, but the bulls defended the breakout level at $39.75 on Oct. 21. This shows that sentiment has turned positive and traders are buying on dips. If the bulls push the price above $45.01 and sustain it, LUNA price could retest the ATH level at $49.54. This level could act as a hurdle again, but if the bulls stop the next drop above $45.01, the prospects of breaking the ATH level will strengthen again. According to the analyst, LUNA could rise to $60.57 later on. Contrary to this assumption, if the price breaks from the current level of overhead resistance and dips below the 20-day EMA ($39.18), the drop could extend to $34.86. Then, selling could intensify below $32.50.

Terra (LUNA) Chart

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