Terra Price Analysis: Will LUNA Surge to hit $2.90


  • Terra shows bearish momentum over the weekend.
  • LUNA/USD is confronted with resistance level of R1 at 2.90 dollars.
  • Terra’s EMA(10) shows a downward trend.
  • The current trading volume of Terra is at $138,549,777.00.

03 October 2022 : 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 -1.34 percent, bringing the entire cryptocurrency market to $938,674,107,757. The total trading volume stands at $53,771,713,429. Bitcoin shares 39.72 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,449.78 level after an upward movement of 1.29%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.85 percent reaching to $1,321.44 during the previous 24 hours.
While publishing this blog, BNB traded at $287.58, following a price change of 1.59% within the same time frame. XRP the native coin of XRP is down by -1.56 and currently trading at $0.45. Additionally, Cardano reached $0.43 after seeing a uplift of 0.31% 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 $2.90 Support Level 1 $2.07
Resistance Level 2 $3.29 Support Level 2 $1.62
Resistance Level 3 $3.74 Support Level 3 $1.23

Terra Performance

The price of Terra (LUNA) is at $2.44, down -2.99% in the past 24-hours and has a price change of -9.98% over the week. One day trading volume for BTC is 138,549,777.00 USD while total marketcap reached $311,242,054.00 USD. There are almost 127,475,474 are in circulation out of 1004262701.

Terra Price Analysis

LUNA price analysis for 03 October 2022 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) 2.48 Sell
Exponential Moving Average (10) 2.48 Sell
Simple Moving Average (20) 2.72 Sell
Exponential Moving Average (20) 2.70 Sell
Simple Moving Average (50) 2.46 Sell
Exponential Moving Average (50) 2.46 Sell

RSI implying consolidation phase while trading at 43 and is trying to break out of the neutrality zone. While LUNA’s Williams %R indicator is at -53.091 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing below of the signal line after a crossover. Terra investors need to wait for any directional change over the daily chart. LUNA has a nearest resistance of $2.90. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the resistance R2 placed at $3.29. Alternatively, if the investors turn against the Terra (LUNA), the bears might control the market and take LUNA price below the crucial support level of $2.07.

Conclusions

The Terra market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of LUNA might try to break above its resistance level of $2.90. For now the coin is showing negative trend.