Terra price analysis for Feb 14, 2022, is concluded on a bearish note as the token failed to hold support at $55, which was a crucial moment for the short bullish surge to continue. On the other hand, the token has fallen to the nearest support present around the $50-$52 price level, as seen in the LUNA price analysis for Feb 11, 2022.
The data from CoinMarketCap shows that the token opened the daily candle at a price of $51.66 and reached a daily high of $53.09. Moreover, the daily low stands at a price of $51.41. It is also important to note that the price of 1 LUNA at the time of writing stands at $51.98. It is possible that investors might witness lower prices today.
The trading volume of Terra dropped 13.88% in the last 24 hours, followed by a 3.09% drop in the market cap. Moreover, the Market Dominance of the token rests at 1.10%, while the Volume / Market Cap Ratio currently stands at 0.0456. The token has fallen to the 9th position in the market, being outperformed by other altcoins.
Terra price analysis on the daily chart
The daily chart for the token shows that the RSI line continues to move in the bearish zone, which means that lower prices are in store for the token.
The MACD line (blue) is very close to the signal line (orange) on the MACD indicator which means that a bearish divergence might be possible for LUNA.
The bulls are once again retesting the middle zone of the Bollinger Bands and if successful, we might see higher prices. However, if unsuccessful, Terra might once again fall below $50.
Conclusion
Terra (LUNA) price analysis for Feb 14 can be concluded on a bearish note for the token which is retesting the support zone of $50-$52. If the token fails to maintain this region as support and break into $55, the next target is $48.
