LUNA/USD Trades Above $70 Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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Terra Price Analysis – February 25
After touching the daily low of $63.90, the Terra price touches a new daily high of $71.34.
LUNA/USD Market
Key Levels:
Resistance levels: $85, $90, $95
Support levels: $50, $45, $40
LUNA/USD is trading at $69.16 after confirming a daily uptrend and climbing above the upper boundary of the channel. The Terra price is making a triumphant return among the top coins; therefore, LUNA even touches a new daily high at over $71.34 after recovering to the upside. At the time of writing, LUNA validates the $63 level as support, before resuming its upward movement.
Terra Price Analysis: Terra (LUNA) Ready to Shoot Upward
The Terra price is confidently hovering above the 9-day and 21-day moving averages as the coin faces the upside which connotes that buyers are gaining upper hand in the market. The technical indicator Relative Strength Index (14) is currently moving into the overbought region, pointing up to indicate a buy signal.
Meanwhile, should in case the buyers were able to push the price above the resistance level of $75 and the daily candlestick closes above this level, then, the market price may rally towards the resistance levels of $85, $90, and $95 while the supports could be located at $50, $45, and $40 respectively.
LUNA/BTC Market: Bulls Are Ready For the Upside
When compared with Bitcoin, if the Terra price continues to follow a bullish surge above the 9-day and 21-day moving averages, the price of Terra may swing high towards the upper boundary of the channel and hit the resistance level of 2200 SAT and above.
Meanwhile, on the contrary, crossing below the lower boundary of the channel could lead to the support level of 1200 SAT and below. On the technical indicator, the Relative Strength Index (14) signal line is currently moving into the overbought region, which is a sign of bullish movement.
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