LUNA/USD May Continue to Range-Bounds – Cryptovibes.com – Daily Cryptocurrency and FX News
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Terra Price Analysis – March 26
LUNA/USD is seen trading around the moving averages after touching the daily high at $91.56.
LUNA/USD Market
Key Levels:
Resistance levels: $115, $120, $125
Support levels: $70, $65, $60
After touching the resistance level of $91.56 today, LUNA/USD is seen trading at $90.92. The coin is also moving within the channel, indicating an indecisive movement in the market. For the time being, the market price is moving above the 9-day and 21-day moving averages as the trading volume is issuing a sell signal while the technical indicator confirms the bearish movement.
Terra Price Analysis: Would Terra LUNA Visit Higher Levels?
At the time of writing, the Terra price is seen sliding below the 9-day MA as bulls couldn’t keep the coin at the upside. However, any attempt to cancel the current bearish movement and push the Terra price back towards the upper boundary of the channel for the coin to revisit the resistance level of $95.
Furthermore, any bullish movement above the channel could lead the market price to the crucial resistance levels at $115, $120, and $125. On the contrary, if the coin drops below the 9-day and 21-day moving averages, the LUNA price could reach the critical supports at $70, $65, and $60 as the technical indicator Relative Strength Index (14) moves around 55-level.
LUNA/BTC Market: Consolidating to the Downside
Against Bitcoin, the Terra price is trading below the 9-day and 21-day moving averages but with a bullish candle trying to break to the upside. The technical indicator Relative Strength Index (14) is moving below $40-level which suggests more bearish signals into the market. Therefore, a further drop may likely hit the support level of 1500 SAT and below.
However, any form of a rebound from the current level at 2047 SAT could push the price of the coin to the resistance level of 2600 SAT and above. But the buyers may need to gather enough momentum to push the price to the north. For now, LUNA/BTC is following the downward movement and may start rising once the technical indicator turns upward.
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