Now we have seen some respectable constructive momentum for Terra (LUNA) over the past three buying and selling periods. The coin nonetheless seems to have stagnated however there may be nonetheless extra upside for development. Listed below are some key info to notice:
LUNA has fallen sharply from its $119 highs at first of April.
The coin is nonetheless consolidating and will surge in direction of $100 within the days forward.
This may characterize a 15% upswing from the present worth.
Knowledge Supply: Tradingview
How quickly will LUNA hit $100?
After recording modest beneficial properties over the past two periods in a row, LUNA seems to have stagnated. The coin is basically buying and selling sideways, however that is really a very good factor. It means we’re seeing some worth consolidation following the steep correction LUNA reported after hitting $119 on April 5. As soon as this consolidation is completed, LUNA bulls will probably take over.
This may occur within the subsequent few days, the truth is, we count on LUNA to check $100 at first of buying and selling subsequent week Monday. The run will characterize a 15% acquire from its present worth. The important thing for bulls nonetheless will probably be to see off any sell-off after hitting the $100.
As now we have seen with many cash this 12 months, when a decisive bull run breaks out, buyers are locking income at essential resistance zones. The $100-mark is one such resistance for LUNA, and if bulls determine to lock revenue at this worth, a fall; in direction of $80 will probably be inevitable. However within the quick time period, the opportunity of a $15 – 20% acquire is very probably.
How far can the uptrend go?
We’re not positive there will probably be sufficient bullish momentum to take LUNA above $100. The truth is, this worth will probably be an enormous provide zone.
Until one thing drastic occurs, the upswing potential for the coin is severely restricted for now. But when the token can maintain beneficial properties above $100 for just a few days, then a surge in direction of $120 will not be out of the query.