• Terra’s LUNA price sees compression of 8- and 21-day simple moving averages.
  • LUNA price volume has tapered out considerably amidst June’s downtrend.
  • Invalidation of the uptrend is a breach below $1.60.

Terra’s LUNA price could continue higher. It is not a guarantee, but the probability is valid.

Terra’s LUNA price prepares to rally or detonate

Terra’s LUNA price is experiencing a profit-taking consolidation as the bulls have finally created some momentum. The recent breach of $2.00 created a 35% rally into a high at $2.80 during the final days of June. LUNA price technical indicators do promote the idea that a rise can continue as high as $5.00.

Terra’s LUNA price currently trades at $2.50, a psychological barrier accompanied by optimism as the Terra community has recently organized millions of dollars for further blockchain development. The 3-day chart hints at the possibility of more uptrend as the volume indicator during June was relatively sparse. Secondly, the compression of the 8- and 21-day simple moving averages (SMA) below the current LUNA price could become the catalyst to induce a golden cross. The collision of both moving averages will surely bring a much-needed increase of volatility into the market for intraday traders to engage with.

tm/luna/6/29/22

LUNA/BUSD 3-Day Chart

If market conditions persist, the $3.00 zone will be the final short-term target to breach for less confident bulls speculating on a $5.00 target in the long term. On the contrary, If the bears manage to breach below the $1.60, a sharp plummet to $0.59 could occur, resulting in a 75% decrease from the current LUNA price.

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

Recommended content


Recommended Content

Editors’ Picks

Is Ethereum's comeback real?

Is Ethereum's comeback real?

Ethereum price hovers above $2,500 on Friday after soaring nearly 100% since early April's bottom. The ETH Pectra upgrade has boosted over 11,000 EIP-7702 authorizations in a week, indicating healthy uptake by wallets and dApps. The growing stablecoin usage and tokenization, Layer 2 institutionalization and ETH short unwind support the price rally.

Bitcoin Weekly Forecast: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin Weekly Forecast: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin price stabilizes around $103,000 on Friday after facing multiple rejections at the key $105,000 resistance level throughout the week. Risk-on sentiment prevails, driven by global trade deals, strong corporate accumulation, and spot ETF inflows.

EOS price climbs as sentiment improves following $3 million purchase by President Trump's World Liberty Financial

EOS price climbs as sentiment improves following $3 million purchase by President Trump's World Liberty Financial

EOS price rebounds from short-term support at $0.75, boosting bullish sentiment amid broader market consolidation. President Donald Trump's World Liberty Financial purchases $3 million worth of EOS at an average price of $0.82.

FTX creditors set to receive over $5 billion in recovery plan payout handled by Kraken and BitGo

FTX creditors set to receive over $5 billion in recovery plan payout handled by Kraken and BitGo

Defunct crypto exchange FTX will distribute $5 billion to holders of allowed claims starting May 30. Creditors with completed pre-distribution requirements will receive between 54% and 120% of their original claims.

Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP