Terra price analysis: Bulls dominate LUNA/USD market

TL;DR Breakdown

• The Terra price analysis is strongly bullish.
• LUNA price has surged to an all-time high once again.
• Strong support for LUNA is present at $101.4.

For today, the Terra price analysis is extremely bullish as the coin has risen to a record high following the close of trading on Tuesday. LUNA prices have risen to $105.5 after bulls continued to drive up for the fourth day running, and bullish momentum appears strong. On March 10th, the cryptocurrency corrected after reaching $101.4 but has since surged to new highs.

The bulls are currently in control of the market and a break above $101.4 could see prices reaching $120 quickly. If support at this level fails, then a drop to $90 is possible. However, for now it looks as though the bulls are in full control and will likely push prices higher in the short-term.

The Terra price analysis is bullish on the long term as the cryptocurrency looks to establish itself as a leading payment solution. LUNA prices have surged to an all-time high once again, reaching $105.5 on March 12th. The coin has strong support at $101.4, which is a key level to watch over the coming days. If bulls can break above this level, then $120 is the next target. A failure to hold above $101.4 could see prices dropping back to $90. However, for now it looks as though the bulls are in control and will likely push prices higher in the short term.

LUNA/USD 1-day price chart: Bulls in control

The bulls have dominated the market for the past week, with the price trend line rising. The LUNA/USD is presently valued at $105.5, setting a new high after surpassing its previous peak. The value of the coin has increased by more than 10% in the last 24 hours and by 12.7% in seven days. The MACD and Signal line indicate that the bullish momentum is still dominant and might push prices beyond the current resistance level.

The Relative Strength Index (RSI) suggests that the market is overbought; however, this could be a temporary state. The $101.4 support seems to have held so far and it will be crucial to see if the bulls can break above it to attain a new all-time high.

LUNA/USD 1-day price chart. Source: TradingView

The volatility has been high, with the Bollinger bands expanding. The upper band is at $102.1 below the price level, representing support for LUNA and the lower band is at $82.9, representing LUNA’s strongest support. The Relative Strength Index (RSI) rating has reached near to the border of the overbought region, but it has not yet crossed the threshold. The MACD Histogram is maintaining its bullish trend and the bars are still above the 0 level.

Terra price analysis: Recent developments

The bullish momentum is strong and a break above $101.4 could see prices reaching $120 quickly. If support at this level fails, then a drop to $90 is possible.

LUNA/USD 4-hours price chart. Source: TradingView

The bullish momentum seems to be present in the market, with prices reaching a new high at $105.5. The $101.4 support has been tested and held so far, with the bulls pushing prices higher in the short-term. The MACD and Signal line are still bullish and the RSI is close to overbought territory but has not yet crossed the threshold. A break above the current resistance could see prices reaching $120 in the short-term.

The market has been bullish for the past few hours, with the price reaching a new high at $105.5. If the bulls can maintain their dominance, then a break above $101.4 could see prices reaching $120 quickly. The RSI

Terra price analysis conclusion

The analysis of the Terra price indicates that bulls are having a great day, with prices reaching $105.5 after a new record high was established today. We predict that the LUNA/USD pair will close the day at a new ATH value.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.