Terra Price Analysis: Will LUNA maintain above $2.37


  • Terra price analysis is bearish today.
  • Terra shows bearish momentum over the weekend.
  • LUNA/USD trades near $0.94.
  • The $2.04 support level for LUNA/USD is really strong.

18 April 2024 : In this article we will walk you through Terra price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Terra, Is LUNA a good investment? Terra support & resistance levels etc. But before diving deep into the LUNA technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,310,882,577,065. The total trading volume stands at $97,003,156,256. Bitcoin shares 54.22 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $63,625.02 level after an upward movement of 5.23%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 3.91 percent reaching to $3,063.64 during the previous 24 hours.
While publishing this blog, BNB traded at $550.55, following a price change of 5.86% within the same time frame. SOL the native coin of Solana is up by 8.08 and currently trading at $139.28. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Terra Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Terra (LUNA)

LUNA Resistance Levels LUNA Support Levels
Resistance Level 1 $3.08 Support Level 1 $2.37
Resistance Level 2 $3.46 Support Level 2 $2.04
Resistance Level 3 $3.80 Support Level 3 $1.66

Terra Performance

According to Price Analysis Market Index, Terra (LUNA) is trading at $0.94 with a trading volume of $75,675,926.00. However,LUNA has a price decline of -3.51% in the last 24 hours.LUNA price changes -1.06% over the week with a total market capitalization of $579,663,093.00 USD.

Terra Price Analysis

LUNA price analysis for 18 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Terra.

Moving Averages Price Indicator
Simple Moving Average (10) 2.64 Sell
Exponential Moving Average (10) 2.64 Sell
Simple Moving Average (20) 2.57 Sell
Exponential Moving Average (20) 2.57 Sell
Simple Moving Average (50) 2.72 Sell
Exponential Moving Average (50) 2.71 Sell

The Terra has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take LUNA price below the crucial support level of $2.37. The Relative strength index (RSI) for LUNA Coin is currently hovering at 53 for 14-days average line, which means LUNA is moving towards overbought zone. While LUNA’s Williams %R indicator is at -53.392 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The LUNA/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market.

Conclusions

There had been a negative trend for some time and it seems that the coin's recuperation will continue as long as it remains in the reddish area. You should only acquire crypto right now if you're prepared to hold it through the ups and downs of the crypto market.