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Terra in a Bull Flag, will LUNA bulls Break $105?

Analytics

cryptoknowmics.com 29 March 2022 03:48, UTC
  
Reading time: ~2 m

Terra is bullish, and prices are trending inside a bull flag with caps at $90 and $84 in the immediate term. A close above $105 would thrust LUNA to new 2022 highs.

Past Performance

The LUNA coin is in the top-10 by market cap but trailing BTC and ETH. Overall, LUNA is steady versus the USDT and up roughly five percent in the past trading week. Technically, the Terra coin is bullish, inside a bull flag with resistance at $105.

Terra Technical Analysis

Terra LUNA Daily Chart for March 28 As aforementioned, the Terra coin is consolidating within a bull flag with resistance at $105. As per the LUNA candlestick arrangement in the daily chart, the middle BB and the support trend line is the immediate support level. A break below $90 and $84 in the near term may see the coin slide back to $77. Nonetheless, buyers have the upper hand from an Effort-versus-Results perspective, provided LUNA prices are trending inside the March 8 and 9 bull bars. Therefore, they may find entries with immediate targets set at $105.

What to Expect from LUNA?

LUNA is near its peaks and may surge higher as its ecosystem emerges as the most valuable in DeFi. Losses below $90 complete a double top at $105, while a close above would see LUNA prices trend in new 2022 highs.


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