- Terra price analysis is bullish for today.
- LUNA/USD starts to reverse to the upside again.
- Support at $26.5 still holds.
Terra price analysis is bullish today as a consolidation above $26.5 support has been formed over the last 24 hours. Therefore, as long as LUNA/USD does not break below the support, we can expect a reversal to the upside next.
The overall market traded slightly in the red over the last 24 hours. The market leaders, Bitcoin and Ethereum, are down by 3.19 and 2.48 percent. Meanwhile, Solana and Cardano are among the best performers, with a slight gain.
Terra price movement in the last 24 hours: Terra continued to test the $26.5 support
LUNA/USD traded in a range of $25.94 – $30.79, indicating strong volatility over the last 24 hours. Trading volume has increased by 60.15 percent and totals $1.839 billion, while the total market capitalization trades around $11.52 billion, ranking the coin in 14th place overall.
LUNA/USD 4-hour chart: LUNA ready to reverse?
On the 4-hour chart, we can see bullish momentum returning for the Terra price action as the $26.5 was rejected again.
Terra price action traded in a strong bearish momentum over the past week. After a rapid move higher on the 10th of September, a new major swing high was set at $45.
After a slight retracement to $38 and another attempt to move higher resulted in a lower high set, LUNA/USD declined to $34 previous significant support. Above the support, Terra consolidated for several days and broke lower once again on the 19th of September.
A new swing low was set above $26.5 yesterday. Overnight the Terra price action continued to test the support, with rejections for further downside each time. Overall, this price action indicates an upcoming reversal later this week.
Terra Price Analysis: Conclusion
Terra price analysis is bullish for today as further downside above the $26.5 support is still rejected. Therefore, we expect LUNA/USD to start heading higher over the next 24 hours, with the closest resistance at $31.
While waiting for Terra to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.
Is it about time Terra breaks its price downtrend and reignites rally
After Bitcoin’s Black Friday crash, the entire market seemed to turn red barring some altcoins like Crypto.com coin and surprisingly, Terra (LUNA). In fact, LUNA was one of the only alts in the top 20 to see over 5% daily and 8% weekly gains.
Layer-1 protocols like Avalanche (AVAX) and Terra (LUNA) have been able to record high year-to-date returns. LUNA’s yearly ROI v. USD, at the time of writing, stood at a staggering +11749.61%. However, the 14th ranked altcoin has closely followed BTC’s price movement since 16 November, post which, it registered close to 25% losses.
LUNA making a return?
LUNA’s price made lower lows after its price fall on 16 November, even though AVAX’s trajectory gained momentum soon after. It seemed like LUNA was more affected by the larger market fall and followed Bitcoin’s price. In fact, its RSI too has been on a downtrend since 9 November.
Since 26 November, however, LUNA started seeing minor gains as its RSI broke out of the downtrend it was in all through November. At the time of writing, the alt’s price had broken above the crucial $45.56-mark which has been an important resistance for LUNA.
Keeping aside the recent price falls, LUNA’s macro-uptrend still remains intact. In fact, post-Terra’s Columbus-5 upgrade, LUNA’s price has maintained a decent trajectory, performing independently from the market.
TerraUSD, Terra’s native stablecoin backed by LUNA, has also seen growth in its market cap over the last month. Its market cap rose from under $3 billion on 10 November to $7.17 billion, at the time of writing.
Here’s what’s missing
After hitting the $10 billion mark, Terra’s TVL began to decline over the last week, falling to $9.39 billion, down 6% from last week. This fall in its TVL could be indicative of the waning institutional interest as the alt’s price closely followed BTC’s price.
Furthermore, missing retail FOMO in Terra’s rally seemed to be a worrying trend. Notably, trade volumes have been pretty low and a macro downtrend in trade volumes since October could be seen.
Nonetheless, the alt’s price seemed to finally break away from the downtrend as its funding rate saw an uptick. In fact, its Open Interest on the Perpetuals market saw an almost 4% increase.
A lack of both institutional and retail interest in the alt could be one reason behind its price falls, apart from the positive BTC correlation which the alt seemed to break at the time of writing. With the price trend for LUNA picking up pace, a move from the retail side can push the crypto to new ATHs.
Terra (LUNA) Price Prediction 2021-2025
Terra (LUNA) could be a big winner as stable coins rise to prominence in the crypto world. This crypto also has a pretty large-cap asset of $16.3 billion. It’s a little larger than Chainlink and the 12th largest crypto. LUNA’s blockchain protocol uses fiat-pegged stablecoins to power price-stable global payment systems.
The 1-day price chart for Terra price analysis shows that the coin traded in a range of $43 to $46 while swinging wildly towards extremes of $42.2 on the lower side and $47 towards the upside. Currently, the LUNA/USD pair is trading hands at $49.96 at the time of writing. LUNA also reports an increase in value by 9.6 percent over the last 24 hours and an increase in value by 5.41 percent over the past week.
Its current performance is quite impressive but let’s get to know the Terra (LUNA) background first.
What is Terra (LUNA)?
Terra is a crypto payment solution that has gained a lot of traction since its initiation in January 2018 by Daniel Shin and Do Kwon, the men behind Terraform Labs.
The platform was built to keep in mind the price volatility of blockchain-based assets and perceive them. Terra focuses on price stability and usability and uses smart contract-enabled cryptographic versions of fiat currencies, called stablecoins, in its platform.
Terra has already rolled out multiple fiats pegged stablecoins, including TerraUSD (UST), TerraCNY, TerraKRW, TerraEUR, and many more digital currencies. The platform offers easy and quick transactions across borders without any hassle and is used by retailers worldwide.
The native token of the network, LUNA, is an important element in the Terra Ecosystem and is responsible for the platform’s governance. The LUNA token is responsible for operating the collateralizing mechanisms which keep the stablecoins in check and avoid massive fluctuation.
LUNA uses the Proof-of-Stake consensus and has an elastic supply depending on the platform’s need for stablecoins in circulation. Terra has its wallet, called the Terra Station, that can give direct access to stablecoins. One can access the DApps built on the Terra blockchain by using the wallet. Furthermore, the Terra Station can operate on a phone as well as a computer without failure.
Terra price history
The LUNA coin has performed incredibly well in the year 2021. While the all-time high LUNA price rests at 54.77 USD as of Nov 27, the token started the year at $0.6. The token is ranked 14 on the market with an average trading price of $43 after the recent market crash.
The LUNA price crossed $1 in January and later reached a peak of $6.4 in February. As the investors got the ‘buy Terra’ signal, the prices ran higher for the token. The token rallied to $21 by March-end and made a new all-time high.
However, this ATH was followed by a bearish movement, due to which the prices of the token dropped as low as 4.1 USD during May while other altcoins were nearing their peak.
Terra Network price current price and bullish trend by CoinMarketCap
As seen in the chart above, the token rallied to a new ATH towards the end of July. By September-mid, the token witnessed a new all-time high above $30. This bullish momentum continued as the token rose by 23% in September and 10% in October.
Terra technical analysis
Currently, the prices are above the 50-day and 100-day Moving Averages on the daily chart, moving towards the Bollinger Bands’ upper end.
The price fractal shows a general uptrend for the cryptocurrency, and higher prices will follow once bulls take charge.
Terra price prediction 2021-2025
In this section, we will discuss Terra price predictions and analyses done by major analysts. Most of these analysts consider Terra a good investment and expect LUNA price to increase shortly.
DigitalCoinPrice’s Terra price forecast
According to the price prediction by DigitalCoinPrice, the average price of the token will be 64.73 USD by the end of 2021. By 2022, the Terra prices will reach 78.34 USD, followed by 95.22 USD for 2023. On the other hand, for 2024, the price forecasts state $109.84, followed by 136.85 USD for 2025.
Following 2025, according to DigitalCoinPrice, Terra (LUNA) has a bright future ahead, and the price prognosis states a price of 155.33 USD for 2026, 168.23 USD for 2027, and 192.17 USD for 2028.
The Terra (LUNA) Coin price will prove a good investment for many coin holders as Terra’s price crosses $100.
Price Prediction Terra (LUNA) by DigitalCoinPrice
Terra (LUNA) price prediction by WalletInvestor
The LUNA price prediction by WalletInvestor states a value of 91.921 USD in a year from now. Furthermore, five years from now, the digital currency Terra (LUNA) is expected to reach $91.
The Terra price prediction for 2021 states that the token will end in 2021 at an average price of 44.877 USD, followed by a maximum price of $49.801 and a minimum of $39.839.
On the other hand, the token will end in 2022 at an average price of 95.365 USD, followed by a maximum price of $104.277 and a minimum of $85.834.
On the other hand, the token will end in 2022 at an average price of 145.858 USD, followed by a maximum price of $167.406 and a minimum price of $126.469.
On the other hand, the token will end in 2022 at an average price of 196.271 USD, followed by a maximum price of $234.098 and a minimum price of $160.974.
For 2025, the token will end the year at an average price of 246.731 USD, followed by a maximum price of $302.410 and a minimum price of $192.130.
TradingBeasts Terra (LUNA) price prediction
The cryptocurrency Terra price analysis states that if the coin survives the bear market, LUNA’s price will rise as it takes a position in the top 10 biggest cryptocurrencies in the crypto market.
While virtual currencies will play an important part as the cryptocurrency market challenges mega giants. The LUNA price prediction 2021 by TradingBeasts says that the token will reach a minimum price of $30.247, followed by a maximum value of $44.480 and an average price of $35.584.
This is not a bullish prediction by the website. However, taking into account the bullish action of the token, the bears might present good investment opportunities.
The token will reach a minimum price of $36.430, followed by a maximum value of $53.573 and an average price of $42.859 for 2022.
The token will reach a minimum price of $44.013, followed by a maximum value of $64.726 and an average price of $51.780.
The token will reach a minimum price of $51.815, followed by a maximum value of $76.199 and an average price of $60.959.
How will LUNA add stability to the crypto market?
Think of Terra as big, decentralized financial infrastructure. It’s a protocol, but it also has a lot of utility with stablecoins. What it’s trying to do is to hold the stablecoins within its system steady. A stablecoin is a coin, by definition, in nature that doesn’t fluctuate very much in real-time. It uses its technology to match supply and demand and tries to keep its stablecoins stable algorithmically.
You could use this technology through its stablecoins and through its native token to achieve the same thing. It’s got e-commerce applications. Terra is really interesting in that regard, and it’s building out the plumbing for what could be a rather big stablecoin market. It’s just starting to grow right now, but it’s got a long way to run.
Terra is a good long-term investment as the utility of the token will necessarily reflect upon the prices. It is also a good short-term investment and is ready to break psychological resistance levels and enter the $100 league.
Terra LUNA supports stablecoins which include a US dollar stablecoin (UST), a euro stablecoin (EUT); a Canadian dollar stablecoin (CAT); and a Japanese yen stablecoin (JPY). You can see the emphasis here on that cross-border payment and trying to cut out the volatility.
On the whole, LUNA is a good investment and with a circulating supply of 394,670,383 LUNA. In the past few months, the token rose by a massive percentage. While the prices continue to be bullish for the token, we recently saw a massive surge in Terra adoption.
Is Luna a good investment?
LUNA is a good investment to hold in your cold storage. The prices continue to be bullish for the token, and once the bulls take control, we might see higher prices.
However, recently we saw the CEO of Terraform Labs, Do Kwon, being sued by the SEC over creating Mirror Protocol. Terraform Labs is the company behind the Terra (LUNA) token.
Will LUNA go up?
According to every major investor in the market, Terra prices will go up. Shortly, we might expect the token to breach the $100 price level and move towards the $500 level. The popularity of Terra’s stablecoins is also a reason for the bullish predictions for the token.
Terra Price Analysis: LUNA/USD is bearish for the next 24 hours
- Terra price analysis is bearish for the next 24 hours.
- The closest support level lies at 38.00.
- LUNA faces resistance at the $42.50
The LUNA price chart indicates that the company has broken down below the $40.00 crucial support level. The sellers had previously defended the mark several times, but they were overwhelmed by recent increases in selling activity across various markets.
The overall market entered a downward movement last week. You can see that in a clear way on a comparison of the LUNA and Terra charts, also featured below: Currently, the market is trading at $40.25, which corresponds to a 7% loss from this time one month ago. Of course, the price may return to higher levels judging from the indicators, but we can trade following our strategy based on candlestick charts and technical analysis.
LUNA/USD four-hour prixe analysis chart: What to expect
According to the Terra analysis, LUNA has been trapped in a holding pattern around the $42.50 price level. While the price moved up and down several times before attempting to break down the $40 mark and climb above it, neither one was successful, with the price instead oscillating. LUNA is likely to fall below a lower support level as volatility increases with the recent breakout.
Traders should anticipate a drop to around $37.50 and possibly lower soon, owing to an increase in market sales. The mid-term technical views and short-term indicators are both bearish, further cementing this prediction.
Terra Price Analysis: Conclusion
LUNA made a false breakout in the mid-term before entering a current bearish trend. The price is likely to continue with downwards movements for its next corrective cycle.
The nearest support level lies at $41.00, while the nearest resistance lies at $42.50. If the price breaks below $37.50, or even $34.50, we may see further drops to around $30.00, where LUNA may attempt to form a new temporary bottom before making another correction upwards.