Terra (LUNA) is Expected to hit $120.43 or $55.57, According to Price Analysis

Cryptocurrency News Price Analysis

At the moment, the unit price for Terra (LUNA) is hovering between the $85.00 and $85.50 per LUNA range. The price analysis around LUNA shows that in the past 30-days, its price has observed a 74.76% surge. Followed by the surge is a 1.24% plummet that LUNA observed in the past 7-day, and then a 2.33% plummet in the past 24-hours

Although LUNA has been experiencing a dip in the past 7-days, yet the 30-day growth has kept it somewhat over the hot water. At present, the sentiments of the investors are neutral about LUNA. On one hand, it is a great opportunity for the investors, and at the same time, it is a risky situation for them as well.

For now, the ball is in no one’s court, which gives both the bears and the bulls the opportunity to move the trend in their favor. The current sentiments of the investors on the summary scale for LUNA are in the neutral zone. It suggests that both sides will need to push/pull with a lot of pressure from their end in order to steer the LUNA market.

The “sell:neutral:buy” scale for LUNA shows that its current ratio is at “8:9:9”, suggesting that the bulls may have the opportunity to push its price higher.

In the upcoming days, the investors may increase their buying power in order to push its price higher. They will attempt to push the price of LUNA over the $96.89 price. At this point, the investors may have to increase their buying power and push LUNA over the $100 mark.

If the bulls succeed in pushing LUNA over the $100 mark, they will eye the $110.00 per LUNA price. If the bulls succeed in gaining the trust of the investors, they may succeed in launching a strong rally, pushing its price up to $120.43.

The bears may also attempt to bring LUNA down by increasing their selling pressure. Their first attempt would be to pull LUNA’s price below the first strong support mark, which is to be exhibited between $72.9 and $75.2. At this range, the bulls may give a really tough time to the bears increasing their buying power.

If the bulls end up giving in, the bears may succeed in pulling LUNA’s price all the way down to $63.86. The particular price is the second strong support mark for LUNA and the bears will have to exert a lot of pressure to pull it lower than that.

If they succeed, they will initiate a plunge bringing LUNA’s price all the way down to the third strong support mark. At present, the third strong support mark for LUNA is $55.57.

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