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Terra (LUNA)

Terra Price Analysis: LUNA consolidates below $38, will the resistance break?

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  • Terra price analysis is bullish for today.
  • LUNA/USD continues to consolidate around $36.
  • Closest support at $34.

Terra price analysis is bullish today as a consolidation between $34 support and $36 resistance has been formed over the past days after a strong decline on Monday. Therefore, we expect LUNA/USD to reverse and break above the $36 resistance next.

Terra Price Analysis: LUNA consolidates below $38, will the resistance break? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded in the green over the last 24 hours. The market leader, Bitcoin, is up by 3.11 percent, while Ethereum is up by 3.94 percent. Meanwhile, Binance Coin (BNB) is among the best performers, with a gain of more than 8 percent.

Terra price movement in the last 24 hours: Terra continues to consolidate below $36

LUNA/USD traded in a range of $34.68 – $37.45, indicating a moderate amount of volatility over the last 24 hours. Trading volume has decreased by 4.65 percent and totals $979.17 billion, while the total market cap trades around $14.73 billion, ranking the coin in 12th place overall.

LUNA/USD 4-hour chart: LUNA ready to break higher?

On the 4-hour chart, we can see the Terra price action has established a consolidation after a strong decline, indicating an upcoming reversal.

Terra Price Analysis: LUNA consolidates below $38, will the resistance break?
LUNA/USD 4-hour chart. Source: TradingView

Terra price action saw substantial volatility over the past weeks. After a quick spike to $24 on the 7th of September, a rapid reversal followed over the next days, with the $45 mark reached on Saturday.

From there, an initial retracement to $38 followed, with another lower high set shortly after. This Terra price action development was followed by a sharp move lower again on Monday, with the $34 mark acting as a support this time.

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Yesterday, LUNA/USD traded sideways around the $36 mark, with continuation for the same price action today. Overall, this indicates that a new higher low is set, and we can expect a reversal over the following days.

Terra Price Analysis: Conclusion 

Terra price analysis is bullish for the next 24 hours as the market has continued to consolidate between the $34 and $36 marks. Therefore, we expect that LUNA/USD has set a new low, and further upside will be seen from there.

While waiting for Terra to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

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Terra (LUNA)

Terra Price Analysis: LUNA spikes to $34, setting a higher low

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  • Terra’s price analysis is bullish for today.
  • LUNA/USD saw another spike lower overnight.
  • After a quick test of $24, LUNA started to recover this morning.

For today, the Terra price analysis is bullish, as the overnight sell-off has resulted in a strong rejection from $24 support. As a result, we anticipate LUNA/USD to continue higher later today and recover more of the loss it incurred this week.

Terra Price Analysis: LUNA spikes to $34, setting a higher low 1

Cryptocurrency heat map. Source: Coin360

Over the last 24 hours, the cryptocurrency market has been in good shape. Bitcoin is up 3.5%, while Ethereum is up 6.73%. Dogecoin, on the other hand, has had a spectacular day, increasing by 11% and outperforming all other cryptocurrencies.

Terra price movement in the last 24 hours: Terra spikes to $34
The LUN/USD pair was trading in a range of $32 – $34.56 throughout the previous 24 hours, suggesting moderate price swings over the last day. Trading volume has dropped by 23.83 percent and is now at $1.405 billion, while the overall market cap is about $11 billion and places it in 14

LUNA/USD 4-hour chart: LUNA ready to reverse?
The Terra price is correcting lower on the hourly chart, which might signal further gains later today.

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Terra Price Analysis: LUNA spikes to $34, setting a higher low 2LUNA/USD 4-hour chart. Source: TradingView

The price of Terra has been trading in a powerful bearish trend over the past seven days. After reaching the $45 mark early this month, a fresh major swing high was established.

Bulls, on the other hand, became weary and a retracement began. The $34 previous resistance gave some assistance at first, and after some consolidation, it broke on September 19th.

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The Terra price has traded between $26.50 and $30 for the best portion of the week, before testing $34 early today. On Sunday, after another decline over the previous few days, the $26.5 level prevented more downside movement. The Terra price action retested its prior swing low during the

Terra Price Analysis: Conclusion
For today, terra price analysis is bullish as an additional downside was rejected this morning after a brief spike to $34. As a result, we anticipate that LUNA/USD will continue to rise over the next 24 hours.

Over the last 24 hours, the cryptocurrency market has been in good shape. Bitcoin is up 3.5%, while Ethereum is up 6.73%. Dogecoin, on the other hand, has had a spectacular day, increasing by 11% and outperforming all other cryptocurrencies.

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Terra price movement in the last 24 hours: Terra spikes to $34

The LUN/USD pair was trading in a range of $32 – $34.56 throughout the previous 24 hours, suggesting moderate price swings over the last day. Trading volume has dropped by 23.83 percent and is now at $1.405 billion, while the overall market cap is about $11 billion and places it in 14

LUNA/USD 4-hour chart: LUNA ready to reverse?

The Terra price is correcting lower on the hourly chart, which might signal further gains later today.

Terra Price Analysis: LUNA spikes to $34, setting a higher low 2LUNA/USD 4-hour chart. Source: TradingView

The price of Terra has been trading in a powerful bearish trend over the past seven days. After reaching the $45 mark early this month, a fresh major swing high was established.

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Bulls, on the other hand, became weary and a retracement began. The $34 previous resistance gave some assistance at first, and after some consolidation, it broke on September 19th.

The Terra price has traded between $26.50 and $30 for the best portion of the week, before testing $34 early today. On Sunday, after another decline over the previous few days, the $26.5 level prevented more downside movement. The Terra price action retested its prior swing low during the

Terra Price Analysis: Conclusion 

For today, terra price analysis is bullish as an additional downside was rejected this morning after a brief spike to $34. As a result, we anticipate that LUNA/USD will continue to rise over the next 24 hours.

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Terra (LUNA)

Terra (LUNA) Price Crawls Up Over 25% in a Day

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  • Terra (LUNA) is one of the biggest movers in the world of crypto.
  • LUNA has surged over 25% over the past 24-hours.
  • LUNA holds 11th position on CoinMarketCap.

Terra (LUNA) is one of the biggest movers in the world of crypto. Presently, the LUNA has surged over 25% over the past 24-hours, also making Terra one of the biggest gainers of the day, and crypto investors also watching closely. Moreover, investors wonder about analysts’ views on Terra.

LUNA holds 11th position on CoinMarketCap. Currently, the LUNA price is trading at $39.91 with a 24-hour trading volume of $4,977,946,386, at the press time.

LUNA/USDT Price Chart (Source: TradingView)

The above chart shows the bullish performance of LUNA. If this bullish trend continues the price of LUNA can reach new heights soon. Added to this, the Relative Strength Index indicates LUNA is in an overbought state. This shows the price reversal of LUNA can happen at any time.

In addition, there are many things going around on Terra. More so, Terra undertakes a massive Columbus 5 upgrade. With all, like other digital assets, Terra looks to get better, faster. Furthermore, these upgrades will enable simplified token swapping which is the main use of the ecosystem.

Added to this, the update will also allow for token burning. This makes each LUNA token more valuable. Furthermore, these hard fork upgrades are watched closely by digital asset investors currently. These upgrades have the potential to drive real value in the near future.

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Terra (LUNA)

Terra added on Alto CryptoIRA as LUNA price eyes 30% ascent to reclaim all-time high

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  • Terra price has rallied 10% in its quest to reach its all-time high at $34.78.
  • LUNA becomes one of the 19 cryptocurrencies to be added on Alto Crypto IRA.
  • The ascent to reach an all-time high is sprinkled with $30.55 and $32.35 resistance levels.

Terra price performance has been nothing short of impressive in the past couple of weeks. While many cryptocurrencies struggled to reclaim the pre-May 19 crash levels, LUNA set up a new all-time high.

Terra adoption continues to make headway

Alto CryptoIRA, a self-directed individual retirement account, recently announced the addition of Terra and 19 other altcoins to its platform. Other cryptocurrencies include Axie Infinity Shard (AXS), Chilliz (CHZ), Harvest Finance (FARM) and so on. 

Alto CryptoIRA aims “to provide cryptocurrency investors the tax advantages of an Individual Retirement Account (IRA) with the freedom to trade as you please.”

The announcement further adds,

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Whether you choose a traditional crypto IRA, which offers tax-deductible contributions, or a Roth crypto IRA, which offers completely tax-free withdrawals upon eligibility, investing in crypto with an IRA means no reporting purchases, sales or trades on your taxes each year.

Terra has been on a blast in the second half of the bull run this year. Perhaps the most significant development is the integration with Wormhole, a bridge that connects the Terra, Ethereum, Solana and Binance Smart Chain ecosystems together.

LUNA price approaches crucial resistance level

LUNA price dropped roughly 26% from August 24 to August 26 from its all-time high at $34.78 to a stable support level at $26.86. While this downswing was observed due to the drop in the cryptocurrency ecosystem, Terra has bounced back quickly as it rose roughly 10% and shows signs of a further ascent.

However, investors need to pay close attention to the $30.75 and $32.35 resistance levels. Rejection at any of these levels will delay the uptrend.

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For a retest of the all-time high, LUNA price needs to produce a decisive 6-hour candlestick close above $30.75, which will clear a major hurdle. Following this, Terra needs to slice through $32.35 to take a jab at the all-time high at $34.78.

LUNA/USDT 6-hour chart

LUNA/USDT 6-hour chart

While things seem to be going in favor of bulls, a breakdown of the $26.86 support level or the trading range’s midpoint at $25.64 will put LUNA price in jeopardy. 

However, if Terra sets up a lower swing below the 62% Fibonacci retracement level at $23.45, it will invalidate the bullish thesis and potentially trigger further descent.

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