• Tue. Apr 16th, 2024

Terra Price to Rise to $105 or Dip to $75, Price Analysis

Mar 27, 2022

There are many eyes set upon the major cryptocurrencies when it comes to their prices growing in the upward direction. At the moment, the investors are closely monitoring the price trends and predictions for cryptocurrencies such as Bitcoin, Ether, Binance Coin, XRP, etc.

Among these major cryptocurrencies is Terra (LUNA), which is also going through the same situation as its superiors. Being the 7th largest cryptocurrency in the entire crypto-verse in terms of ($33,800,865,746), many investors are eager to see where its price lands in near future.

Many investors currently have their money at stake and they are hoping Terra would experience a surge in the upcoming days. However, the surge the investors are expecting for Terra needs to be on a higher scale.

Even now, the situation of Terra is not looking so good or satisfying for the bulls. Therefore, it is currently not known where the price of Terra may land in the upcoming days.

What has happened to Terra in the Past Few Days?

After a long bearish run, March 21 turned out to be the day for the bulls. For the first time after several days, the bulls were glad they witnessed a significant surge in the value of Terra, as it rose up to $96 per LUNA.

At the moment, the $96 per LUNA value is the overhead resistance mark for LUNA. It took the bulls a lot of strength to push the price of Terra over the particular mark.

Unfortunately, the bears were not ready to let the situation get out of control for them. Therefore, they started selling Terra as its price crossed the overhead resistance mark. The bulls tried really hard to sustain the pressure from the bears, but the situation didn’t work out for them the way they had expected.

The strong selling observed from the bears’ end for Terra at the overhead resistance has made it clear that the bears are defending it with great power.

Bulls May Push Terra to $105

As the bears launched their attack, they tried to push the price of Terra really low. However, the bulls showed great support for LUNA and made it clear that they also have high sentiments for LUNA.

If the bulls are able to build up a strong rally again and manage to push the price of Terra past the overhead resistance, LUNA’s price may cross the $100 mark.

Once the $100 barrier is crossed, the bulls may try and hit an all-time high for Terra at $105 per LUNA.

Bears May Pull Terra to $75

On the contrary, if the bears succeed in pushing the price of LUNA below the $88 (20-day EMA) mark, they may aim for a lower benchmark. Going forward, the bears may try and pull the price of Terra to a lower price of $75 per LUNA.

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