Terra price analysis: LUNA remains bullish, $100 next target

Terra price analysis for Jan 20, 2022, suggests that the token has remained bullish for the last 24-hours, and at the time of writing, the token is up by more than 5%. It seems that the token is eyeing the $100 price level. 

The data from CoinMarketCap shows that the trading volume of the Terra (LUNA) token is up by 1.06% in the last 24-hours while the market cap is up by 5.07% in the last 24-hours. Furthermore, the token is 20.36% from the all-time high of $103, which was witnessed 24 days ago. 

As compared to the Terra price analysis from Jan 12, the token is bullish because it opened the daily candle for Jan 20 at a price of $81 and reached a daily high of $82.5. Furthermore, the current price of the token at the time of writing is somewhere around $82.

Terra price analysis on the daily chart

The Terra price analysis on the daily chart shows that the RSI levels are still in the bullish zone. The token reached a monthly low of around $60 and has rebounded from the said price levels. 

Furthermore, the LUNA token price action broke towards the upper end of the Bollinger Bands, which means that the bulls are aiming to conquer the previous all-time high. If the price trajectory remains bullish, we might see LUNA above $90 in the coming days.

The Terra price analysis using the RSI indicator shows that the token flipped bearish a few days ago, going as low as 60. However, the MACD line and the RSI line overlap, which means that the token might flip either side. It all depends on the buy and selling volume, and of course, Bitcoin, as almost all coins follow Bitcoin.

Conclusion

To conclude our Terra price analysis for Jan 20, the token aims to remain in the top 10 cryptocurrencies in the market. A target above $90 and closer to $100 can be set for the token in the coming days, provided the buying volumes keep on increasing.

It is a good time to buy Terra as recently, the Chiron Partners have revealed a $50 million fund to enhance the Terra ecosystem. Furthermore, Terra outperformed BTC and ETH as per our recent Bitcoin price analysis and Ethereum price analysis.

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