Terra Price Analysis – April 11
Terra is currently trading downwards, just like any other altcoins in the market, experiencing a fall from $91 to $84 trading price area.
Resistance levels: $110, $120, $130
Support levels: $65, $55, $45
LUNA/USD resumes back into the market as the coin drops to touch the support level of $84. The Terra price is now roaming below the 9-day and 21-day moving averages. If the market continues the down-surge and squeeze, the support level of $80 is likely to surface in the next few negative moves. Meanwhile, LUNA/USD might further look for lower price levels if the bears continue to show commitment.
Terra Price Analysis: What to Expect From LUNA/USD
The Terra price is currently following the downward trend as the technical indicator Relative Strength Index (14) moves to cross below the 40-level. Looking at the daily chart, traders can see the trading volume is becoming low. Therefore, if the Terra price continues to stay under the control of bears, it may likely locate the supports at $65, $55, and $45. On the upside, any bullish movement above the 9-day and 21-day moving averages could hit the potential resistance levels at $110, $120, and $130 respectively.
LUNA/BTC Market: Price Heads to the South
Looking at the daily chart, LUNA/BTC is range-bound. The price keeps moving below the 9-day and 21-day moving averages. It is currently heading towards the lower boundary of the channel touching the daily low at 2033 SAT. However, the bears may drag the price below this level and this could take the coin to the support level of 1600 SAT and below.
However, looking at the current Relative Strength Index (14), the signal line moves to cross below the 40-level, it appears that bears may likely put pressure on the bulls. Therefore, if the bulls can strengthen the market and push the coin upward, the Terra price may begin an uptrend to locate the resistance level of 2600 SAT and above.