LUNA/USD Moves to Cross Above $55 – Cryptovibes.com – Daily Cryptocurrency and FX News
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Terra Price Analysis – February 14
The Terra price is moving sideways as the coin aims at the next resistance level above the 9-day and 21-day moving averages.
LUNA/USD Market
Key Levels:
Resistance levels: $72, $82, $92
Support levels: $36, $26, $16
At the time of writing, LUNA/USD is trading a gain of 3.18% at its current price of $53.31. However, the current movement marks a notable rise from recent lows of $51.43. According to the technical indicator Relative Strength Index (14), the coin may follow an uptrend as the signal line moves above 40-level.
Terra Price Analysis: Terra (LUNA) May Ready for Upside
According to the daily chart, the Terra price stays below the 9-day moving average. However, if the $50 support level failed to hold strong, a break below it could spark a capitulatory plunge that may cause the crypto to see another serious loss. Moreover, this potential decline could be similar to that seen in the past few days when LUNA/USD touches the low of $43 before rebounding again.
However, if LUNA/USD crosses below the lower boundary of the channel, the support levels of $36, $26, and $16 respectively. According to the breakdown from a bullish pattern, it would be more likely for the price to cross above the moving averages before reaching the potential resistance levels of $72, $82, and $92.
LUNA/BTC Market: Price Consolidating Below the Moving Averages
Against Bitcoin, the Terra price remains within the channel as the coin is trading below the 9-day and 21-day moving averages at 1260 SAT. Looking at the daily chart, if the bulls can regroup and push the coin above the moving averages, they may end up controlling the market.
On the contrary, if the market drop below the lower boundary of the channel, the next key supports may come at 8500 SAT and below. On the other hand, a possible rise above the moving averages could push the market to the resistance level of 1700 SAT and above. The technical indicator Relative Strength Index (14) moves to cross above 40-level, suggesting a slightly bullish signal.
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