Terra Thrives Amidst the Bloodbath in the Crypto Space, LUNA Price Aims at a 12% Upswing
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The Terra(LUNA) price temporarily nullifies the downtrend with a nearly 7% jump minimizing the volatility but the trading volume has surged with notable numbers. And hence the jump appears to be pre-programmed as the price trend appears to be squeezed at the press time. And hence after the volatility is reduced to a certain extent, the LUNA price appears to slice through the upper resistance by gaining more than 10%.
Currently, the LUNA price is swinging within the range between $58 to $47 which can be considered as one of the very important levels. Recently the price tried to break through the middle range but ended up in a false breakout which was not less than a trap that ended in a correction. Currently, there are no notable entry points but the key levels need to be closely watched.
The LUNA price was trending within a crucial phase wherein the price may either face a notable breakout and also showcase the possibilities to plunge towards the lower levels. However, a slight squeeze from here, in the middle of the trading range may flash a notable buying opportunity. On the other hand, the compression and a breakout from the bottom may be a good selling opportunity as well.
The upper boundary of the present trading area is around $58.31 and the lower boundary is at $47.54. Also the trading volume has witnessed a minor spike in recent time which may ignite a notable jump in either of the directions depending on the volume accumulated.
Also, the possibility of getting trapped just above the middle ranges may also be in place similar to the previous one. Therefore a significant breakout is more required above the range-bound and then a clear uptrend may be certified for the Terra(LUNA) price.
Cryptocurrency
