Terra Price Analysis: LUNA/USD to spike to $40 in the next 24 hours

TL;DR Breakdown

• Terra price analysis is bullish for today.
• LUNA/USD is currently trading at $34.
• The large red bar on the four-hour chart LUNA/USD price is around $34.

Today, the Terra price prediction is bullish since the overnight sell-off has resulted in a solid rejection of $24 support. As a result, we anticipate LUNA/USD to recover more of its losses this week and continue higher later today. As the key resistance is still yet to be taken out, we believe that it will eventually act as enough of a price magnet for bulls to continue pushing prices higher. As such, buyers will need to push LUNA/USD above $28, so they can gather enough momentum to cut through $32 and penetrate $36.

By studying the 1-hour Terra (LUNA/USD) charts from tradingview.com, plotting the 20 hour EMA, and executing some Fibonacci retracement calculations across a trend line that extends between the low reached on 14th of January of $19 and reached its all-time high last month.

Terra price movement in the last 24 hours: Terra spikes to $34

The large red bar on the four-hour chart LUNA/USD price is around $34, where it would be expected for LUNA to reverse if it does not break this level for a long time. 

The green six on the Terra daily price prediction means that it forms a higher low. This shows that at around $34, LUNA should either be a bullish or bearish breakout, starting an uptrend or downtrend.

LUNA/USD 4-hour chart: LUNA ready to reverse?

The Terra price is correcting lower on the hourly chart, which might signal further gains later today.

Terra Price Analysis: LUNA spikes to $34, setting a higher low 2LUNA/USD 4-hour chart. 

Source: TradingView

The price of Terra has been trading in a powerful bearish trend over the past seven days. After reaching the $45 mark early this month, a fresh major swing high was established.

Bulls, on the other hand, became weary, and a retracement began. The $34 previous resistance initially gave some assistance, and after some consolidation, it broke on September 19th.

The Terra price has traded between $26.50 and $30 for the best portion of the week before testing $34 early today. On Sunday, after another decline over the previous few days, the $26.5 level prevented more downside movement.

Terra Price Analysis: Conclusion 

Terra’s four-hour chart price prediction shows that yesterday’s breakout likely has a long way to go, and we believe it will break above $40 resistance in the next 24 hours. This is because there was no consolidation after this bullish breakout – which means that LUNA/USD should head higher.

The price of Terra has been trading in a powerful bearish trend over the past seven days. After reaching the $45 mark early this month, a fresh major swing high was established.

Bulls, on the other hand, became weary, and a retracement began. The $34 previous resistance initially gave some assistance, and after some consolidation, it broke on September 19th.

The Terra price has traded between $26.50 and $30 for the best portion of the week before testing $34 early today. On Sunday, after another decline over the previous few days, the $26.5 level prevented more downside movement.

Terra Price Analysis: Conclusion 

Terra’s four-hour chart price prediction shows that yesterday’s breakout likely has a long way to go, and we believe it will break above $40 resistance in the next 24 hours. This is because there was no consolidation after this bullish breakout – which means that LUNA/USD should head higher.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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