Analiză tehnică LUNA: lista de vânzători pentru Terra, va ajunge în curând la 50 USD

The extreme rise in selling pressure drives the LUNA coin price lower and may soon break the 100-day SMA to reach the $50 mark. Terra is an application used in blockchain technology that uses stablecoins paired with fiat. In order to power globally-based payment systems that are price-stable. Terra was launched at the beginning of January 2018 with the support of Daniel Shin and Do Kwon.  The co-founders of the company aim to speed up the acceptance of blockchain technology with a focus on usability and the stability of prices. Let us move ahead to read about Terra’s technical analysis. Past Performance of LUNA LUNA coin price shows a decline of more than 15% in the past 24 hours resulting in the fallout of $75. Moreover, the free fall creates a huge bearish engulfing candlestick in the daily chart. It breaks below the 0.382 Fibonacci level and heads lower to the 0.5 Fibonacci level.  LUNA/USD Daily Chart LUNA Technical Analysis The LUNA coin price decreased by 25% in the past week, resulting in a high momentum short-term downtrend. With the 180% jump in the intraday trading volume, the selling pressure is on the next level.  The 20 and 50-day Simple Moving Averages give a bearish crossover in the daily chart. Meanwhile, the 100-day SMA provides support to falling prices. The 200-day SMA stands strong at $44 if the 100-day SMA collapses. The MACD indicator finally gives a bearish crossover after the merger of the MACD and signal lines in the daily chart. Moreover, the increasing trend in the falling histograms indicates a rise in underlying bearishness. The Stochastic RSI indicator shows a free fall in the K and D line in the daily chart after the rejection from the overbought boundary. Thus, the falling lines indicate a rise in selling pressure. Therefore, the technical indicators reflect a rise in underlying bearishness with the increased chances of a downfall below 100-day SMA.  Upcoming Trend The LUNA coin price has come under extreme selling pressure extremely quickly due to the fall in the world’s oldest cryptocurrency below the $40K mark.  The selling pressure may soon drive the prices below the 100-day SMA to the $55 mark or the 200-day SMA. This potential downfall will result in the fallout of the 0.5 Fibonacci level. However, if the prices find support near the 100-day SMA and continue to rise higher after consolidation, the resistance levels are at $75 and $87. At press time, TradinView gives a “SELL” signal for the LUNA coin. Technical Analysis for LUNAUSD by TradingView

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Source: https://www.cryptoknowmics.com/news/luna-technical-analysis-sellers-line-up-for-terra-soon-to-reach-50/