Terra Coin Price Analysis: LUNA Coin Price Aims To Sail beyond the All-Time high of $78

Terra Coin Price Analysis: LUNA Coin Price Aims To Sail beyond the All-Time high of $78

The LUNA coin shows an overall uptrend in its technical chart. The coin has recently provided another pullback opportunity for trades which took its support from the $54 mark. The coin rally is still trying to sustain above the nearest resistance of $63, supporting this emerging rally.

Key technical points:

  • The LUNA coin price finds support at the 50-day EMA
  • The intraday trading volume in the LUNA coin is $2.01 Billion, indicating a 0.13% loss.
  • Source- LUNA/USD chart by Tradingview

    The last time when we covered an article on LUNA/USD, the coin price was on the verge of retesting the $54 mark. The price obtained strong support from this level, and by displaying an inside day candle, the coin initiated a recovery phase.

    The coin chart shows a steady rally with four consecutive green candles, charging towards the All-time HIgh resistance of around $77. Despite a correction phase among most crypto coins, LUNA coin managed to flourish in those harsh situations.

    The crucial EMAs (20, 50, 100, and 200) maintain a bullish alignment while the price finds support near the 50-day EMA. The daily Relative Strength Index (56) showed an impressive recovery similar to the coin’s price action.

    LUNA/USD Key Levels In The Daily Chart

    Source- SOL/USD chart by Tradingview

    As for now, the LUNA price has surged 26% from this $54.4 support and managed to reclaim a minor resistance level of the $63 mark. The coin is trying to sustain above this level which would help this rally to retest the overheads resistance of $77

    As for the key resistance levels, the coin traders can expect the $77 and $85 to play an important role. Whereas the support levels are at the $63 and $53 marks.

    Source

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