Analysis

Terra price analysis: LUNA exhibits extreme bearish signs at $0.00028400

Terra price analysis seems to have started a negative approach with strong bearish dynamics. As a result, the price has experienced a crashing trend and decreased. Between May 11, 2022, and May 15, 2022, the price for LUNA went from $19 to $0.00028400. The cryptocurrency has shown further declining dynamics today and is now showing potential to plummet even lower. LUNA currently trades at $0.00028400, it has been down 32.88% with a 24-hour trading volume of $5,412,174,518 and a live market cap of $1,860,988,289. LUNA currently ranks #207 in the cryptocurrency rankings.

LUNA/USD 4-hour price analysis: Latest developments

Terra price analysis has revealed market volatility to have gone negligible, making the cryptocurrency’s price less vulnerable to variable change on either extreme. As a result, the upper limit of the Bollinger’s band is present at $0.0393, which acts as the strongest resistance for LUNA. Conversely, the lower limit for the Bollinger’s band is available at -$0.0076, which represents the strongest support for LUNA.

The LUNA/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. The market trend seems to have solid bearish momentum with significant reversal opportunities. Although the price appears to be moving in a linear direction, attempting to anchor itself to a stable value, if the price and support meet in the coming days, the bulls will again shift the market dynamics in bullish favor. They will probably indicate a positive future for cryptocurrency.

LUNA/USD 4-hour price chart source: TradingView

Terra price analysis has revealed that the Relative Strength Index (RSI) is 12, which means that cryptocurrency falls into the undervalued category; the selling exceeds the buying activity. As a result, the RSI can follow a downward approach that reflects the possibility of the cryptocurrency getting more devalued in the market. On the other hand, if the RSI score plummets too much, it will lead to a reversal and increase its value.

Terra price analysis for 1-day: Massive volatility

Terra price analysis shows market volatility following a declining trend. The cryptocurrency price is becoming less prone to change; the LUNA/USD price opportunities subject to fluctuations also follow a declining movement. However, the market is already massively volatile. The upper limit of the Bollinger’s band is present at $128.4, which acts as the strongest resistance for LUNA. Conversely, the lower limit for the Bollinger’s band is available at -$17.8, which represents the strongest support for LUNA.

The LUNA/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with declining volatility signifying the bear’s hold on the market. The price path appears to follow a strong downtrend that counters the volatility. The LUNA/USD value might break the support and reverse the market dynamic.

LUNA/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) has 14, meaning that the cryptocurrency falls into the undervalued region. RSI appears to be following a linear movement signifying a depreciating value for Terra. The selling activity equals the buying activity, due to which the RSI score remains constant. The RSI has broken the threshold for depreciation and has spent enough time in that region and now will slowly start to reverse the market dynamic.

Terra Price Analysis Conclusion

Concluding the Terra price analysis, we can deduce that the market has recently entered a bearish movement. However, the 4-hour research suggests that a reversal is to be expected sooner than later, and the market will feel some pressure. Still, the bears are showing consistency and strong characteristics, so we will have to wait and see what happens. However, if the support breaks, the support and resistance will be backtracked.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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