The post Terra LUNC And LUNA Prices Surge! What’s Next For Terra Tokens This Month? appeared first on Coinpedia Fintech News
The crypto market has recorded a massive jump in its valuation as major tokens have added significant value to their respective portfolio recently. Further, Bitcoin price crosses the $40K mark, highlighting a bullpower in the crypto space.
On the other hand, Terra tokens have outperformed top cryptocurrencies, following the news of revamping the USTC. Terra Classic has gained over 250% during the past week, with Terra LUNA 2.0 adding approximately 150%.
LUNC Price Analysis:
The Terra LUNC price traded in a narrow space between $0.00006190 and $0.00006931 for a brief period, following which the bulls gained just enough momentum to break out. After this, the LUNC price started trading in a consolidated range between $0.00006931 and $0.00009234 for over two weeks.
Following the update, the Terra Classic price gained massive momentum and broke out of the range, but the rally was short-lived as the price faced rejection at $0.00012855. The LUNC token traded sideways before regaining power and breaking out.
Terra LUNC price has jumped over 86% since the breakout at its key resistance level of $0.00012855. Currently, the price is hovering close to its upper resistance level of $0.000240 and is expected to test it soon, of which the outcome is unpredictable.
The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating an ongoing massive buying and selling pressure in the market. Further, the averages show a sharp rise in the chart, suggesting the price will continue gaining value in the coming days.
If the bulls continue to gain power, the LUNC price will prepare to test its resistance level of $0.0002602. Maintaining the price at that level will set the stage for Terra Classic to attempt to test its upper resistance level of $0.0002805 this month.
Conversely, if a trend reversal occurs, the price will lose momentum and fall to test its support level of $0.00020. Moreover, if the bears continue to dominate the market, it will plunge further and test its lower support level of $0.0001835.
LUNA 2.0 Price Analysis:
LUNA 2.0 price followed in the footsteps of Terra Classic and traded in a closed space between $0.493 and $4921 for over a week, following which the market gained momentum and the price recorded a jump of 25%.
The price experienced a minor volatility at $0.6201, after which the bulls regained momentum and added another 43% to its portfolio within a single trading day. After facing rejection at $0.8900, the price traded in a consolidated range between $0.6691 and $0.7884 for a week.
Following this, the bulls lost momentum and broke down. The LUNA token then traded in a narrow space between $0.6201 and $0.6691 for two weeks.
After this, the price regained momentum and broke out but experienced significant price volatility around $0.8900. Recently, the price recorded a jump of 30% and is currently on the verge of testing its resistance level of $1.1113, of which the outcome is uncertain.
The technical indicator, MACD, displays a strong green histogram, indicating a massive price action in the market. Further, the averages show a sharp rise, suggesting the price to continue gaining value in the coming days.
If the bulls push the price above the resistance level of $1.1113, the LUNA price will continue to rise and test its upper level of $1.2008 soon. Conversely, if the bears overpower the bulls, the price will lose momentum and prepare to test its low of $0.8900 this week.
Conclusion:
The Terra tokens gained significant momentum for the first time since its crash in November, indicating the rising interest of investors toward these coins. Further, the tokens have already achieved their yearly targets, suggesting a positive uptrend in the coming time.
#PriceAnalysis #Altcoins [Source: Coinpedia]