Terra price analysis is bullish today as another higher low was set at $49, after a steady decline yesterday. Therefore, LUNA/USD is likely ready to attempt a breakout above previous highs over the next 24 hours.
The overall market saw mostly bullish momentum over the last 24 hours. The market leader, Bitcoin, gained 6.31 percent, while Ethereum gained 3.06 percent. Meanwhile, Avalanche (AVAX) was the top performer, with a gain of almost 13 percent.
Terra price movement in the last 24 hours: Terra sets higher low at $49, prepares to push higher?
LUNA/USD traded in a range of $49.73 – $52.15, indicating substantial volatility over the last 24 hours. Trading volume has declined by 8.23 percent and totals $646.9 million, while the total market cap trades around $20.48 billion, ranking the coin in 13th place overall.
LUNA/USD 4-hour chart: LUNA set to break higher?
On the 4-hour chart, we can see bullish momentum returning for the Terra price action this morning, likely leading higher over the next 24 hours.
Terra price action has seen bullish momentum return so far in November. After a consolidation at the end of October, a swing low was set at $38 on the 27th of October.
From there, LUNA/USD set a lower low and a higher high, indicating consolidation. However, a break higher followed during the first days of last week, leading Terra to set a strong higher high at $53.
Since then, the Terra price action has retraced to $47.5, setting another higher low, while the following reaction set a lower high, indicating another consolidation formed. Yesterday, LUNA/USD retraced again, finding support at $49 and setting another higher low.
Therefore, we expect Terra to move higher over the next 24 hours. Bullish momentum slowly returns, potentially leading to a break above the $53 current high.
Terra Price Analysis: Conclusion
Terra price analysis is bullish as a clear higher low was set overnight, leading to a recovery in the morning. Likely, LUNA/USD will continue higher, with the next target to break at $53.
While waiting for Terra to move further, read our guides on NFT tokens, Gemini Exchange Review, and Sunacrip.
Terra Price Analysis: LUNA makes another spike lower overnight, finds support at $24
- Terra 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.
Terra price analysis is bullish for today as the overnight spike lower has resulted in a strong rejection from the $24 support. Therefore, we expect LUNA/USD to keep moving higher later today and recover more of the loss seen this week.
The cryptocurrency market traded in the red over the last 24 hours. The market leader, Bitcoin, is down by 2.5 percent, while Ethereum is down by 4.73 percent. Meanwhile, Solana (SOL) is the worst performer, with a loss of almost 8 percent.
Terra price movement in the last 24 hours: Terra spikes to $24
LUNA/USD traded in a range of $24.02 – $29.36, indicating significant volatility over the previous 24 hours. Trading volume has decreased by 23.83 percent and totals $1.405 billion, while the total market cap trades around $11 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 the Terra price action starting to recover, indicating further upside will follow later today.
Terra price action has traded in a strong bearish momentum over the past week. A new major swing higher high was set after a rapid advance to the $45 mark earlier this month.
However, bulls became exhausted, and a retracement began. At first, the $34 previous resistance provided some support, and, after some consolidation, it broke on the 19th of September.
A further drop over the past couple of days followed, with the $26.5 mark preventing more downside yesterday. Overnight, another quick spike lower made the Terra price action retest the $24 previous swing low. Therefore, we expect a new major swing low to be set, and a reversal will follow from there.
Terra Price Analysis: Conclusion
Terra price analysis is bullish for today as a further downside was rejected this morning after a quick spike to the $24 mark. Therefore, we expect LUNA/USD to see further upside over the next 24 hours.
While waiting for Terra to move further, read our guides on Decentralized Exchanges, NFT Crypto, as well as Bitcoin Memes.