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Terra and ThorChain prices are bottoming up after profound losses. RUNE/USDT must first clear $4.5 while LUNA/USDT bulls target $8 in the short term.
Terra (LUNA)
The project wants to combine exciting elements of crypto and fiat to power a payment system and speed up overall adoption using LUNA as the bedrock.
Past Performance of LUNA
After days of lower lows and bears taking charge, there appears to be a shift in fortunes for LUNA bulls.
The token is up 12 percent on the last trading day.
At the same time, prices are reacting at vital Fibonacci levels, a net positive for buyers optimistic of further price gains in the days ahead.
Day-Ahead and what to Expect
A three-bar bullish reversal pattern in the daily chart bounces back with increasing trading volumes, suggesting a buildup in demand.
LUNA prices look likely to expand in the days ahead, unwinding losses of the better part of June.
The primary support level for LUNA/USDT stands at $5, while the uptrend would be more apparent once prices surge past $8 and July 2021 highs.
LUNA/USDT Technical Analysis
There is a clear uptick in participation reading from yesterday’s gains.
The odds are, LUNA prices will continue inching higher in the days ahead.
For this reason, every low may be a loading opportunity for aggressive LUNA bulls targeting $8 and $11 in the medium term.
Losses below $5 twirl price action in favor of LUNA bears in sell trend continuation.
ThorChain (RUNE)
The ThorChain cross-chain DEX recently suffered an exploit that saw RUNE prices curve. At the time of writing, the coin is one of the top performers.
Past Performance of RUNE
RUNE/USDT has support at the time of writing, but losses in the last trading week are pronounced reading from price action.
Technically, RUNE/USDT remains in a bear breakout pattern and would take much convincing for bulls to take charge despite July 21 gains satisfactorily.
Day-Ahead and what to Expect
The odds are, RUNE prices will likely build on July 21 gains to overcome $4.5—a primary resistance level as prices bottom up.
However, if not, RUNE prices might continue sliding in a bear trend continuation pattern in the coming weeks.
RUNE/USDT Technical Analysis
The downtrend is evident, and sellers are undoubtedly in the driving seat from a top-down approach.
Although there is a double bar bullish reversal pattern, a close above $4.5 would confirm trend reversal, favoring bulls.
For now, aggressive RUNE/USDT may load the dips as long as prices trend above $3, aware that deeper losses cancel the uptrend.