The data from TradingView shows that the price of Terra (LUNA) managed to gain a high rally in terms of its price. The report shows that the price of LUNA was able to hit and cross the $78.29 per LUNA price. The data shows that the price of LUNA had managed to achieve the particular price on December 20, 2021.
LUNA had faced a lot of resistance from the bears’ end at the particular figure but the resistance wasn’t able to pull it down. The price of LUNA successfully managed to grow over the $78.29 price. This means that the price of LUNA is currently experiencing a high trend.
For now, LUNA seems to be moving in the upward direction and experiencing a constant rise in its price. At the moment, the price of LUNA is experiencing a surge and the data from TradingView shows that it may continue soaring in the upcoming days.
It was because of the constant soaring that the price of LUNA grew to a new all-month high of $98.20 per LUNA. The data surrounding LUNA shows that it managed to hit the particular price on December 22, 2021.
Even the RSI for LUNA is now in the “overbought” zone, which means that the RSI is also supporting the bullish trend for the digital asset. As of now, the price of LUNA is close to $100, and as per figures, it may succeed in hitting the price soon.
At the moment, the $100 price demonstrates the psychological support for LUNA, where the bears may also resist. However, if the price of LUNA manages to cross the psychological mark, it may end up experiencing a correction.
This means that for a short number of days, the price of LUNA may experience a slight downtrend, only to recover in the price. After the slight correction, the price of LUNA may pick up and it may move in the upward direction. If the bulls continue pushing with their buying power, they will manage to bring its price all the way up to $124.65.
On the other hand, the bears may try to push the price of LUNA below $90 in order to trigger a selling spree. If the price of LUNA falls below the $90 figure, the bulls may lose their positive, and its price may continue falling.
From that point, the bears may attempt to bring LUNA’s price below the $78.29 figure. It would be a strong resistance point from the bulls’ end, as they may try pushing it higher by increasing their buying power.
However, if the bulls give in, the price of LUNA may fall all the way down to 20-day EMA. At present, the 20-day EMA for LUNA is $69.75.