With a slight recovery within the crypto space, the Terra(LUNA) quickly gained immense bullish momentum. Moreover, the asset is now testing one of the crucial resistance, ranging above which may assist the next leg up. Yet the buyers currently appear to be a little resistless on reaching the resistance but fortunately giving no room for the sellers to hinder the rally.
LUNA price ever since it smashed the monthly highs just above $60 is following a notable downtrend. The price smashed the upper and the lower levels frequently but remained within the channel. However, the asset after gaining huge bullish momentum flipped the lows at $48 and surged high to test the crucial resistance levels at the press time. Once the price ranges above these levels, it may be safe from the danger zone but not certified with the uptrend.
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After the recent price slash, the asset displayed the chances of plunging below $45, yet the buyers jumped at the right time and uplifted the price. No doubt the asset attempted to break through the descending trend a couple of times before but failed. However, the recent uptrend was pretty strong where-in the sellers had very little space to thrive. And hence the bullish momentum may prevail regardless of minor pullbacks.
Currently, it is extremely important for tha Terra price to slice through the $53.41 resistance levels. And further, continue with the uptrend and maintain the price rise towards the important zones around $58. Once these levels are cleared then the LUNA price may comfortably smash above $60 in no time. Yet the ATH is still very much distinct but may be achievable following a calculated uptrend allowing some minor pullbacks at regular intervals.
Source: https://coinpedia.org/price-analysis/terra-luna-price-maintains-upswing/