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- 1 The Terran coin is in a prolonged bearish trend, showcasing bearishness on the daily chart.
- 2 TRR price is trading far below the key moving averages.
Terran coin price is in a downtrend trading below all key moving averages showcasing bearishness on the daily chart. This week the price dropped by almost 3.33% showing the bears are still pulling the price down.
Terran, a blockchain platform project that aims to improve the speed and ease of sending, receiving, and trading cryptocurrencies. The project uses a public blockchain for smart contracts to provide better services to its users.
Terran addresses the main challenges that affect the blockchain industry today. It will offer many solutions that work across different blockchains and off the blockchain to increase its scalability and flexibility.
The Terran platform could benefit developers, merchants, and investors and more by allowing users who shop online from merchants to make transactions smoothly.
Technical Analysis of Terran Coin On Daily Technical Chart
Over the week, Terran coin fell around 3.33%, and this decline has been steeper over a month, reaching around 30.12%. Looking back over three months, TRR crypto dropped by about 37.97%, while the decline extends to around 88.46% over the last six months. Furthermore, the crypto’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 33.33%.
At press time, the Terran Coin crypto price was $0.01152, with an intraday loss of 4.77%, showing bearishness on the charts. Moreover, the trading volume is $16,574. The market cap is $272,707. Moreover, indicators maintained a strong sell rating on TradingView.
Terran coin (USD: TRR) technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are highlighting adverse indications and suggest that the negative trend may continue in the TRR crypto price. Moreover Terran crypto can go high if it gets the desired support from buyers. Meanwhile, Terran coin crypto needs more buyers in order to push Terran coin price toward the recovery phase.
Conclusion
The Terran coin is facing a strong downtrend and has lost most of its value in the past six months. The project has a promising vision of improving the blockchain industry, but it needs to overcome many challenges and gain more adoption and support from the community. The technical indicators suggest that the bearish momentum is likely to continue, and the price may test new lows in the near future. Investors should be cautious and wait for a reversal signal before entering the market.
Technical Levels
Support Levels: 0.0100 USDT
Resistance Levels: 0.0116 USDT
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
