Terra Price Prediction: Bulls eyes $50 

TL;DR Breakdown

• Terra’s price prediction is bullish for today.
• LUNA/USD is trading at $36.3.
• After the retracement to $34, the price is currently consolidating at $36.

Today Terra’s price prediction is bullish after consolidation above $34 an overnight night. As a result, we anticipate that LUNA/USD will rise further over the next 24 hours and recoup some of its losses earlier this week.

Terra price movement in the last 24 hours: Terra retraces to $40, forms consolidation overnight.

The LUNA/USD pair is confined in a tight range of $33 to $39 throughout the previous 24 hours, yet there was no indication of substantial movement during that time. Volumes have fallen by 35.27%, with $807.78 billion worth of transactions against a market capitalization of $14.18 billion.

There’s not much strength to break above $46, meaning the market will likely continue retracing to $34 for another attempt at breaking out of resistance at $46.

Terra price prediction and Technical prediction: Rebounds to $49, LUNA/USD on the up-swing

No candlestick formations could indicate an upward trend reversal, but a support level formed at $44.87. This means that today’s prediction will be bullish since we expect the market to close above $50, which is the critical resistance for this coin. If momentum builds up, we expect LUNA/USD to retrace further and consolidate at $45 before making another attempt at breaking out of the descending channel.

4-hour Terra Price Prediction chart: LUNA starts to move higher

On the 4-hour LUNA/USD chart, there are three possible paths for this market to take in the next 24 hours.

The first scenario is that momentum builds up at $35 and leads us to another attempt to break out resistance at $50. If this happens, we expect the price to go up even higher towards $45, likely after consolidating above $40. Another possibility is bulls might fail to break out of resistance again. Leading to another retest of support levels around $44-$43 before continuing its downward trend into tomorrow. Lastly, bull rejection occurs, and prices fall back below $44 and continue moving lower than they did earlier today.

LUNA/USD 4-hour chart. Source: TradingView

As of the time of writing, LUNA/USD is trading at $46.16. There is a support level found at $34.31 and resistance found at $50.

After the retracement to $44, the price is currently consolidating at $36. Meaning today’s prediction is bullish since we anticipate an upward trend and another attempt to break out of resistance at $50 after consolidation around $46 is complete. Also, no candlestick formations indicate an upward trend reversal, so it seems like bears are holding on to their control in this market.

Terra Price Prediction: Conclusion 

The price of Terra is rising as the prior significant support was tested overnight, with bulls regaining momentum. As a result, we anticipate LUNA/USD to increase further in the next 24 hours and aim for resistance at $50.

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