LUNA is one of the most bullish tokens in the crypto space that has surged from 9th position in the market to the 7th position at the time of writing. As discussed by TheCoinRise in our Terra price analysis for March 1, the token was just 14% off from its all-time high, which means that the chances for Terra breaking $100 are quite high.
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The data from CoinMarketCap shows that the trading volume of Terra surged 1.20%, while the market cap of the token surged 7.22% in the last 24 hours. Moreover, the Volume / Market Cap Ratio has a value of 0.143, while the Market Dominance of the token rests at 1.82%.
The daily candle for LUNA opened at a price of $89.69 and reached a daily high of $97.29. It seems that the resistance of the token now exists at the $100 price region. Furthermore, the daily low for today stands at $88.12, while the price of 1 LUNA at the time of writing is $95.6.
LUNA price analysis for March 2 on the daily chart
LUNA price analysis for March 2 can be confirmed on a bullish note, and a fact is that we can expect higher prices in the near future as the token is just 7% off from the all-time high.
The MACD indicator confirms that the MACD line progresses above the signal line, which means that the $100 price level might be broken.
The RSI has entered the oversold level once again and reads 74.77, which means that bulls are in control. The gradient of the line is positive for today, which means that investors can expect more profit.
The price action for LUNA has broken out of the upper end of the Bollinger Bands, which means that higher prices are possible.
Conclusion
LUNA price analysis for March 2 confirms that the token will break past the all-time high of $103.3 in the near future.
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