- The price has returned to $38.2 level.
- Terra price analysis predicts bullish comeback.
- Support is still steady at $32.068.
The latest Terra price analysis is showing signs of bullish recovery as the price has rejoined its former level today. The price had been consistently falling in the last week as a strong downtrend was following the market. The bears were maintaining control quite efficiently until today as the price has regained momentum. The price is now at $38.17 as the bullish momentum has been successfully restored back.
LUNA/USD 1-day price chart: Chances of improvement resurface as price relinks to $47
The one-day Terra price analysis is dictating a rise in price as the bullish candlestick has returned to the price chart. The cryptocurrency faced massive bearish resistance in the last week as the price underwent a significant decline. But today, the bulls are trying to recover back after staying under the bearish shadow for quite a long. As a result, the price has heightened up to the $38.17 level, which is slightly below the moving average (MA) level i.e. $40.6.
The volatility has been decreasing which means that the coin value might improve in value in the following week. As a result, the upper Bollinger band is now showing a $47.4 value whereas the lower Bollinger band is showing a $32.07 value. The Relative Strength Index (RSI) score has increased up to 49.72 as well.
Terra price analysis: Price lowers down to $38.19 as bearish momentum stimulates
The four hours Terra price analysis is indicating a drop in price, as the bears have been able to make a successful comeback. The price has been devalued to $38.198, which was quite unexpected as it had been advancing uniformly. Nonetheless, the uptrend has been reversed during the past hours as the price has decreased quite significantly. The moving average is settled on the $37.13 mark whereas the Bollinger bands are maintaining their average at $37.52.
The upper Bollinger band is now touching $39.74 whereas the lower Bollinger band is at $35.295. The RSI score has declined significantly in the last few hours and has moved down to 47.87, which is a quite neutral figure but shows an increase in the selling activity in the market.
The overall trend for the market is almost neutral as can be confirmed from the LUNA/USD technical indicators chart. There is a neutral indication for the day with seven indicators on the selling position, nine indicators on the neutral position, and 10 indicators on the buying one.
The moving averages indicator is giving a bullish signal as the bulls have been at advantage during the past few weeks. There are nine indicators on the buying position, with only five indicators on the selling position and one indicator on the neutral position. The Oscillators are displaying a neutral trend as well as there are eight oscillators standing in the neutral position, two oscillators on the selling position, and only one on the buying position.
Terra price analysis conclusion
The one-day and four hours Terra price analysis is giving a favorable signal towards the buyers as the price has recovered prominently today. The price has returned back to its former height i.e. $38.175 as a result of the bullish momentum. The price might experience a fall in the upcoming hours as the hourly prediction for LUNA/USD is not so encouraging. However, the coin is still on gains today.
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