Terra Coin Price Analysis: LUNA Aims To Sail Beyond the All-Time High of $78

Source : coingape.com

https://cdn.coingape.com/wp-content/uploads/2021/12/13194950/Terra-LUNA-coinmarketcap.jpg

The LUNA coin shows an overall uptrend in its technical chart. The coin has recently provided another pullback opportunity for trades which took its support from the $54 mark. The coin rally is still trying to sustain above the nearest resistance of $63, supporting this emerging rally.

Key technical points: 

  • The coin price finds support at the 50-day EMA
  • The intraday trading volume in the LUNA coin is $2.01 Billion, indicating a 0.13% loss.

Source- chart by Tradingview

The last time when we covered an article on LUNA/USD, the coin price was on the verge of retesting the $54 mark. The price obtained strong support from this level, and by displaying an inside day candle, the coin initiated a recovery phase.

The coin chart shows a steady rally with four consecutive green candles, charging towards the All-time High resistance of around $77. Despite a correction phase among most crypto coins, the coin flourished in those harsh situations.                                    

The crucial EMAs (20, 50, 100, and 200) maintain a bullish alignment while the price finds support near the 50-day EMA.  The daily Relative Strength Index (56) showed an impressive recovery similar to the coin’s price action.

LUNA/USD Key Levels In The Daily Chart

Terra Coin Price Analysis: LUNA Aims To Sail Beyond the All-Time High of $78

Source- SOL/USD chart by Tradingview

As for now, LUNA’s price surged 26% from $54.4 support and managed to reclaim a minor resistance level at $63. The coin is trying to sustain above this level which would help this rally to retest the overheads resistance of $77.

As for the key resistance levels, the coin traders can expect the $77 and $85 to play an important role. In contrast, the support levels are $63 and $53 marks.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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