Terra LUNA price nears key level after rallying 45% this week
LUNA has outperformed almost every top-ranking cryptocurrency this week including Bitcoin despite the market turmoil. A rebound rally in the Terra (LUNA) market this week risks exhaustion as the price retests a key trendline for a potential pullback.Descending channel risks LUNA declineLUNA has been trending lower inside a falling channel—made up of two parallel descending trendlines—since December 2021. In doing so, the Terra token typically tests the lower trendline as support for a rebound to the upper trendline, as shown in the chart below.LUNA/USD daily price chart featuring falling....
Related News
The price of Terra has been choppy in the past few days despite the broader market regaining back it’s strength slowly. In the last week, the coin plunged by almost 30%. Related Reading | Bitcoin Funding Rates Remain Negative For More Than A Week At press time, LUNA was priced at $50.72. Earlier yesterday, LUNA attempted to trade above the $52 price mark. The global cryptocurrency market cap was at $1.83 Trillion after an increase of 1.6% in the last 24 hours. Trading volume of Terra also depicted an appreciation by 75% at press time. This rise in trading volume could be tied to....
The new Terra token dropped by over 70% within hours of hitting $30 after its release on Saturday, May 28, triggering yet another round of criticism from the crypto community. The old LUNA has been renamed Terra Classic (LUNC) on CoinMarketCap, and a new listing for the new Terra (LUNA) has been added. As part […]
The total value locked inside the Terra blockchain system has reached an all-time high of nearly $26 billion. Terra (LUNA) resumed its upward march this week as its price per token rebounded by more than 30% three days.LUNA's price almost reached $100 on March 9 following a 15% intraday rally, coming near its record high of $106 from December 2021. At its week-to-date (WTD) low, the Terra token was trading at $75.60.LUNA/USD daily price chart. Source: TradingViewOver 120 million LUNA burned alreadyThe recent bout of buying in the Terra market appeared in part due to similar recoveries....
The incredible LUNA rally took place amid a flurry of positive and negative events while technicals suggest a correction is coming. Terra has become a controversial blockchain project after the collapse of its native token LUNA and stablecoin TerraUSD (UST) in May. But its recent gains are hard to ignore for cryptocurrency traders. LUNA rising from the dead?After crashing to nearly zero in May, LUNA is now trading for around $6, a whopping 17,559,000% price rally in less than four months when measured from its lowest level. Meanwhile, LUNA's performance in September is particularly....
The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2022, and on that day, millions of new LUNA tokens were dispersed to luna classic (LUNC) and terrausd classic (USTC) holders. However, on Tuesday the Terra development team revealed that some Terra token owners “received less LUNA from the airdrop than expected,” and developers are “actively working on a solution.”
Terra LUNA Airdrop Suffers From Miscalculation Error — Devs Plan to Offer a Solution
On Monday, May 30, 2022, Bitcoin.com News reported on the new....