Terra’s native token price, LUNA, rose 15% yesterday, shortly before BTC reclaimed the $40K mark.
Key Support Level: $78
Key Resistance Levels: $92, $120 (ATH)
Since reaching a new all-time high of $120, Luna’s downtrend closed sharply yesterday when the price gained 15% in a day.
The biggest challenge now for Luna is to break the crucial resistance level of $92. If successful, this could position LUNA to target the 3-digit price and perhaps the ATH level.
technical indicators
trading volume: Volume exploded yesterday after the price rally, but it looks like LUNA failed to continue with this momentum today.
RSI: The RSI on the daily time frame is trading higher by the 50 mark. This is a positive sign and a renewed uptrend could occur if buyers break the key resistance.
MACD: The daily MACD is bearish, but the moving averages are trending up. Buyers need to show more strength to pick up the pace.
Partiality
The current bias on Luna is neutral, Buyers managed to halt the ongoing correction, but it is too early to announce the change in prices.
short term prediction for luna price
If buyers continue to push higher, LUNA has a great opportunity to hit the triple digit price again. The key resistance at $92 must be broken, otherwise, sellers can handle the price action and take LUNA into a deep correction.