Terra Price Prediction — Will LUNA Hit $150 Soon?
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- Bullish LUNA price prediction is $77.70 to $145.6.
- LUNA price will also reach $150 soon.
- LUNA bearish market price prediction for 2022 is $24.78.
In Terra (LUNA) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about LUNA to analyze the future movement of the cryptocurrency.
LUNA Current Market Status
According to coingecko, the price of LUNA is $82.41 with a 24-hour trading volume of $3,609,354,21 at the time of writing. However, LUNA has increased to 3.9% in the last 24 hours.
Moreover, LUNA has a circulating supply of 371,473,772 LUNA. Currently, LUNA trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, Bybit, and HitBTC.
What is Terra (LUNA)?
Terra(LUNA) refers to an open source blockchain protocol that represents a network of algorithm stablecoins and emerging financial applications. LUNA is the reserve currency of the Terra platform and has three main functions that are to retrieve transactions from Terra through staking, ensure the price stability of Terra stablecoins, and provide incentives for the platform’s blockchain validators.
The Terra protocol runs on a Proof of Stake (PoS) blockchain, where miners have to use their Luna to conduct mining transactions. It creates stablecoins that constantly track the price of any Fiat currency.
Terra (LUNA) Price Prediction 2022
Terra holds the 9th position on CoinGecko right now. LUNA price prediction 2022 explained below with a daily time frame.
An ascending channel is a pattern made up of two uptrend lines drawn above and below the price which indicate resistance and support levels. This is a bullish chart pattern defined by a trendline supporting the series of higher lows and a diagonal resistance level connecting the higher highs. While on the channel, prices should jump upper and lower ranges. When such reversals occur, the method is more reliable.
Currently, LUNA is at $77.14. If the pattern continues, the price of LUNA might reach the resistance level to $77.70 and $109. If the trend reverses, then the price of LUNA may fall to $37.6.
Terra (LUNA) Support and Resistance Level
The below chart shows the support and resistance level of LUNA.
From the above daily time frame, it is clear the following are the resistance and support levels of LUNA.
- Resistance Level 1 – $78.47
- Resistance Level 2 – $111.91
- Resistance Level 3 – $145.6
- Support Level 1 – $54.79
- Support Level 2 – $37.15
- Support Level 3 – $24.78
The charts show that LUNA has performed a bullish trend over the past month. If this trend continues, LUNA might run along with the bulls overtaking its resistance level at $145.6.
Accordingly, if the investors turn against the crypto, the price of the LUNA might plummet to almost $24.78, a bearish signal.
Terra Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of LUNA shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. From the last week of September to till at the time of writing, RVOL of LUNA lies below the cutoff line, indicating weaker participants in the current trend.
More so, the LUNA’s Moving Average (MA) shown in the chart above. Currently, LUNA is in a bullish state. Notably, the LUNA price lies above 50 MA (short-term), so it is completely in a positive trend. Therefore, there is a possibility of a reversal trend of LUNA at any time.
Meanwhile, the relative strength index (RSI) of the LUNA is at level 61.79. This means that LUNA is in a nearly overbought state. However, this means a major price reversal of LUNA may occur in the upcoming days.
Terra Price Prediction 2022 — ADX, RVI
Let us now look at Terra’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. ADX is a component of the Directional Movement System. This system attempts to measure the strength of price movement in the upward and downward directions using DMI indicators with ADX.
The above chart represents the ADX of Terra. Currently, LUNA lies in the range at 9.96, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of LUNA. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of LUNA is above the 50 level, indicating that the direction of volatility is high. In fact, LUNA’s RSI is at the 61.79 level thus confirming a potential buy signal.
Comparison of LUNA with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum and Terra.
From the above chart, we can identify the trend of the ETH and BTC is moving at the downward trend. But, the recent trend of LUNA moves in an upward direction.
Conclusion
With continuous improvements in the Terra network, we can say that 2022 is a good year for LUNA. For this reason, the bullish price prediction of Terra in 2022 is $145.6. On the other hand, the bearish LUNA price prediction for 2022 is $24.78.
Furthermore, with the advancements and upgrades on the LUNA ecosystem, the performance of LUNA would rise reaching $111.91 very soon. But, it might also reach $150 if the investors believe that LUNA is a good investment in 2022.
FAQ
Terra is an open-source blockchain project which is developed by Terraform Labs that powers startups’ cryptos and financial applications.
LUNA has listed on many crypto exchanges which include Binance, OKEx, Huobi Global, Bybit, and HitBTC.
With the ongoing developments and upgrades within the LUNA platform, it has a high possibility of reaching its ATH soon.
On Dec 21, 2021, LUNA reached its new all-time high (ATH) of $84.47.
Terra seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of LUNA in the past few months, LUNA is considered a good investment in 2022.
Terra (LUNA) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Terra (LUNA) will hit $150 soon.
Terra (LUNA) price is expected to reach $185 by 2023.
Terra (LUNA) price is expected to reach $220 by 2024.
Terra (LUNA) price is expected to reach $280 by 2025.
Terra (LUNA) price is expected to reach $350 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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