Terra (LUNA) and Swipe (SXP) Technical Analysis: What to Expect?

Swipe and Terra bulls are in control, breaking above the middle BB. LUNA/USDT buyers are pushing for $11, while SXP/USDT is bullish if prices hold above $1.5.

Terra (LUNA)

Using LUNA as its native token, the project aims to power a global payment system using stablecoins pegged to various fiat currencies.

Past Performance of LUNA

LUNA prices are inside a rising wedge, capped by the 20-day moving average.

Overly, buyers appear to be in control as long as $5—the 78.6 percent Fibonacci retracement level of the Q1 2021 trade range hold.

Presently, LUNA is bottoming up and may build on yesterday’s gains. It is stable against the USD and BTC.

Day-Ahead and What to Expect

LUNA/USDT is printing higher highs above $5, confirming the double-bar bullish reversal pattern of late May 2021.

Besides, LUNA prices are above the middle BB for the first time in a month.

These are the precursors, indicating demand that could lift LUNA to May 2021 highs.

LUNA/USDT Technical Analysis

Although participation is tapering, if bulls sustain prices above the middle BB and $6, LUNA could find a solid anchor for a lift-off towards $11.

As such, risk-off traders can buy the dips targeting $11 in a bullish breakout pattern.

Losses below $5–and the double-bar bullish reversal pattern–shift price action to bearish.

Swipe (SXP)

The Swipe ecosystem relies on SXP, facilitating their creator’s quest of linking crypto with fiat.

Past Performance of SXP

The sentiment is shifting, and SXP bulls were uncharacteristically dormant on June 15.

Even so, SXP/USDT prices are above the flexible liquidation line, signaling strength and possible accumulation.

At press time, SXP is up 10 percent against the USD, BTC, and ETH.

Day-Ahead and What to Expect

From a top-down approach, sellers are in charge.

Sustained gains above $2.5 would, however, change the narrative.

Presently, SXP/USDT bulls are building on last week’s gains, aiming at $3 in the medium term.

SXP/USDT Technical Analysis

SXP bulls have the upper hand reading from the daily chart since prices are inside the bull bar of May 24.

This is reflected by the failure of sellers to press lower in the last few days.

As long as SXP prices trend above $1.5, every low could provide a buying opportunity for SXP bulls targeting $3.

The upside trend could be heightened more so once SXP prices clear $2.5.

On the flip side, sharp losses below $1.5 halt the advances of buyers, paving the way for May 2021 bears.