Luna Price Prediction: Terra (LUNA) To Revisit $97.0 As Bulls Regain Control; Is Time To Buy?
Terra’s (LUNA) worth pauses losses on Saturday after testing the highs round $97.0. The formation of a ‘Doji’ candlestick close to the decrease ranges counsel bulls holding a gentle foothold at a essential assist stage of $80.0
- LUNA worth consolidates close to the decrease with modest positive aspects on Saturday.
- Anticipate an upswing again to $97.0 as bulls include dependable assist.
- Momentum oscillators echo bullish outlook for the altcoin.
LUNA hovers just under the 0.78% Fibonacci Retracement stage. A each day shut above $85.0 will push LUNA worth again into a better trajectory with the primary upside goal on the earlier session excessive of $97.0.
Subsequent, the market participant will maintain their eyes on the psychological $100.0 mark.
Technical Indicators:
RSI: The each day Relative Power Index (RSI) trades at 64 after slipping under the overbought zone. It nonetheless reads above the midline with a constructive bias.
MACD: The Transferring Common Convergence Divergence hovers above the midline suggesting the continuation of the uptrend.
However buying and selling quantity is declining since February 4 as costs are shifting increased. A spike in promote order might check 0.618% Fibonacci retracement stage at $76.76.
Moreover, a break under the talked about stage would subsequent see check the horizontal assist line at $70.0.
Up to now month, Terra has outperformed the broader cryptocurrency market with excessive volatility available in the market. Terra’s worth has surged 93% from the lows of $47 to the swing highs of $91.
LUNA worth has pierced above the 50-day Exponential Transferring Common (EMA) at $58.29 since February 24.
As of writing, LUNA/USD is buying and selling at $85.75, up2.78% for the day.
