Terra (LUNA) Price Analysis – November 25
The Terra price is seen following the bullish movement as the coin hovers around $43.63 resistance level.
Resistance levels: $48, $50, $52
Support levels: $34, $32, $30
Based on the current prediction, LUNA/USD could hit $45 in the next positive step. According to the daily chart, Can we say that the difficult period is over for this crypto as it tries to create a new trend. However, Terra’s price is currently trading at $43.63, although the coin touches the daily high of $44 resistance level after crossing above the 9-day moving average, it could probably retest $40 before it rises again.
Terra Price Analysis: LUNA/USD May Create More Upsides
It is apparent that a break above $45 could encourage more buyers to increase their entries, eventually pushing the price to the resistance levels of $48, $50, and $52. On the downside, once the price breaks below the lower boundary of the channle, the sell-off could gain traction with the next focus below the $36, followed by the psychological $35 support.
Moreover, if the above mentioned-supports are broken, the downside pressure may increase while the next supports may be created around $34, $32, and $30. The technical indicator Relative Strength Index (14) is moving to cross above 50-level, suggesting additional bullish signals.
LUNA/BTC Market: Price Remains at the Downside
When compares with Bitcoin, the Terra price is moving below the 9-day and 21-day moving averages. Meanwhile, a daily close above the resistance level of 7500 SAT could encourage the bulls to extend the rally towards 8600 SAT and above. In other words, a close below the moving averages could reverse the Terra price direction towards the daily support at 6500 SAT.
A further bearish movement could take the coin to the support of 5700 SAT and below. Meanwhile, there is a possibility that LUNA/USD may continue the bullish trend as the technical indicator Relative Strength Index (14) is likely to cross above 50-level with the signal line is facing up to indicate bullish movement.