Home
News
•LUNA/USD is currently priced at $0.0000141 and has decreased by 1.44% over the past day
•The trading volumes have decreased by 32.81% over the past day
•The technical indicators suggest a hawkish outlook for the near term
Short Term View: LUNA transacting at a critical support level
The Terra price today is $0.000141 USD with a 24-hour trading volume of $564,602,296 USD. Terra is down 1.44% in the last 24 hours. The trading volumes have decreased over the past day amid continued selling activity taking place in the market. The Volume to Market Cap Ratio stands at 0.6142 for the altcoin.
At press time, the Terra price is facing a fight for survival following a series of poor market performances. The digital asset has lost more than 99% of its ATH value and trades significantly below a dollar in current value. The digital asset is showing no signs of recovery as it trades below the 20,50 SMA on the four hour chart. The altcoin has withstood a barrage of attacks which has seen almost all of its value being wiped off in the last few weeks. The continuation of the downtrend could push the prices towards the support level placed at $0.000010. On the flip side, the resistance is placed at $0.000020 in the event of the bulls taking command of Terra prices.
Long Term View for LUNA
The technical indicators for Terra suggest that the digital asset is seeing strong bearish control. The red histograms are decreasing in size on the daily chart. Furthermore, the gap is reducing between the MACD and signal lines, and we could witness a bullish crossover on the daily chart. This event however would not be sufficient for LUNA to stage a recovery due to the immense shedding in prices it has witnessed over the past few weeks and days. The relative strength index (RSI) figure of 14.35 shows that Terra is in the oversold region.
Conclusion
LUNA is down almost 100% in comparison to last week. Terra’s sell-off was due to the volatility in the market with a combination of the issue of its circulating supply. The future for the crypto asset is uncertain at this point of time.
Support: $0.000010
Resistance:$0.000020
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
