Terra Price Prediction – Will LUNA Price Hit $85 in 2021?

This Terra Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our Terra price analysis and prediction.

Terra (LUNA) is one of the most active cryptocurrencies that took the crypto world by storm this year. To be specific,  the crypto was able to achieve an all-time-high price of $49.86 on Nov 04, 2021. This amazing performance of Terra enables the network to attract crypto investors around the world.

Among the cryptocurrencies that are rallying this year, LUNA is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, LUNA has been around since 2019.

In this Terra price analysis and price prediction, we take a look at the performance of Terra if it will reach $85. But before that, let us learn more about what Terra (LUNA) is and its current position in the crypto market.

What is Terra (LUNA)?

Terra is a blockchain protocol that utilized fiat-pegged stablecoins in order to offer price-stable global payments systems. As per the white paper, Terra joins the price stability and huge adoption of fiat money with the censorship-resistance of Bitcoin (BTC) and provides fast and affordable settlements.

Moreover, the development on Terra started in January 2018, and its mainnet officially started in April 2019. As of September 2020, it provides stablecoins pegged to the USD, South Korean won, Mongolian tugrik, and the International Monetary Fund’s Special Drawing Rights basket of currencies and it intends to roll out additional choices.

In addition, Terra’s native token, LUNA, is utilized to stabilize the price of the protocol’s stablecoins. More so, the LUNA holders are also able to submit and vote on governance proposals.

Terra (LUNA) Current Market Status

Terra remains to be one of the most aggressive cryptocurrencies nowadays. According to CoinMarketCap, the Terra price is $48.36. Notably, Terra was able to record an increased rate of almost 4.69% in the last 24 hours.

In terms of its market standing, Terra’s market capitalization amounts to almost $46,643,257,561 with a 24-hour trading volume of over $1,440,969,646. As a result, the crypto ranks as one of the top 15 cryptocurrencies in CoinMarketCap.

Currently, the top crypto trading platforms for LUNA are Binance, OKEx, and Huobi Global. With all these achievements, we can say that Terra has come a long way in developing its technology throughout the years.

Terra (LUNA) Price Analysis 2021

So far, Terra has been defending its market position well against the bearish market wild volatility. Is it enough to convince the global investors that Terra can rise and be profitable crypto this year?

Are you already interested to know? Therefore, what are you waiting for? Join me and together, let us see the charts in this CoinQuora price analysis.

In the chart above, which is set in a daily time frame, we can see the Ascending Channel Trend pattern. An ascending channel is the price action that takes place in an upward direction through a sloping parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. Moreover, this pattern represents a short-term bullish.

As shown above, at the beginning of this month, Terra turned from its bear to bull trend. This is the result of the high trade volume that occurred in that period.

Furthermore, the Relative Strength Index (RSI) is at 62.33, which means that Terra is in a nearly overbought state. As a result, this may lead to a price reversal at any given time.

Let us also look down for the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of Terra.

Terra is one of the potential cryptocurrencies this year. Since the start of 2021, Terra’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations and corrections right away.

Terra (LUNA) Price Prediction 2021

Currently, Terra holds 12th place on CoinMarketCap. Would the market performance be enough for Terra to maintain its bullish position in 2021? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this Terra price prediction 2021.

In the short-to-mid term scenario for our Terra price prediction 2021, Terra has to break past the retracement level at $80.36. To do this, it has to establish more support at the Fib level at $35.47. If not, bears may gain the upper hand and drag Terra to their territory.

Meanwhile, our long-term Terra price prediction 2021 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.

Terra (LUNA) Price Prediction 2022

If this bullish trend continues, Terra will reach $100 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $122. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $100 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Terra (LUNA) Price Prediction 2023

The price of Terra can move even great heights, however reaching $150. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency Terra breaks past the psychological resistance level.

Terra (LUNA) Price Prediction 2024

As per the latest upgrades, developments, Terra price prediction, and new project forecasts of the platform. Moreover, this might boost the price of Terra in the crypto market, and it will be the best investment as the price can spike and reach around $200.

Terra (LUNA) Price Prediction 2025

In the next four years, Terra prices could race up to $250. However, reaching this level could not be so difficult for Terra as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that Terra has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Terra has a bright future ahead of it in 2021. With ongoing developments happening within the Terra ecosystem, as well as in the overall crypto market, we may see Terra reach new heights.

Even more, the bullish Terra price prediction for 2021 is $80.36. As said above, it may even reach a new ATH if investors have decided that Terra is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum. Moreover, it has a chance to reach $85 in the latter parts of this year as well.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.