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Tuesday, December 6, 2022
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    HomeAltcoinLuna Price Prediction: Terra (LUNA) To Revisit $97.0 As Bulls Regain Control;...

    Luna Price Prediction: Terra (LUNA) To Revisit $97.0 As Bulls Regain Control; Is Time To Buy?

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    Terra’s (LUNA) price pauses losses on Saturday after testing the highs round $97.0. The formation of a ‘Doji’ candlestick close to the decrease ranges recommend bulls maintaining a gentle foothold at a essential assist degree of $80.0

    • LUNA value consolidates close to the decrease with modest features on Saturday.
    • Anticipate an upswing again to $97.0 as bulls comprise dependable assist.
    • Momentum oscillators echo bullish outlook for the altcoin.

    LUNA hovers just under the 0.78% Fibonacci Retracement degree. A day by day shut above $85.0 will push LUNA value again into a better trajectory with the primary upside goal on the earlier session excessive of $97.0.

    Subsequent, the market participant will hold their eyes on the psychological $100.0 mark.

    Supply: Buying and selling View

    Technical Indicators:

    RSI: The day by day Relative Power Index (RSI) trades at 64 after slipping under the overbought zone. It nonetheless reads above the midline with a constructive bias.

    MACD: The Shifting Common Convergence Divergence hovers above the midline suggesting the continuation of the uptrend.

    However buying and selling quantity is declining since February 4 as costs are shifting larger. A spike in promote order may check 0.618% Fibonacci retracement degree at $76.76.

    Moreover, a break under the talked about degree would subsequent see check the horizontal assist line at $70.0.

    Prior to now month, Terra has outperformed the broader cryptocurrency market with excessive volatility out there. Terra’s value has surged 93% from the lows of $47 to the swing highs of $91.

    LUNA value has pierced above the 50-day Exponential Shifting Common (EMA) at $58.29 since February 24.

    As of writing, LUNA/USD is buying and selling at $85.75, up2.78% for the day.

     

    Disclaimer

    The offered content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.

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