Lorenzo Stroe
Independent Analyst
- Terra Price has formed a new all-time high at $19.34 in the past 24 hours.
- The digital asset continues rising ahead of the release of Anchor's savings platform.
- LUNA faces short-term selling pressure after a massive upswing.
LUNA has done it once again, outperforming practically everyone in the cryptocurrency space with another 20% upswing to new all-time highs. It seems that investors are hyped for the upcoming release of Anchor Protocol, a savings platform offering low-volatile yields on top of Terra.
Terra price could see a healthy pullback before resuming uptrend
The Anchor savings protocol offers a high-yield on stablecoins and intends to become the reference interest rate in the cryptocurrency market. Some Anchor tokens will be airdropped to LUNA stakers, which is driving its price up.
LUNA/USD 12-hour chart
On the 12-hour chart, the TD Sequential indicator has just presented a sell signal. The next potential price target for the bears will be $15.34 at the 78.6% Fibonacci retracement level if the signal is validated.
%20[13.42.29,%2016%20Mar,%202021]-637514956365813133.png)
LUNA Social Volume
Furthermore, LUNA has experienced two significant spikes in social volume, which is also usually indicative of a potential upcoming correction like it happened on March 10 or February 9.
On the other hand, bulls can invalidate the sell signal by pushing LUNA above $19.34. The next psychological level is located at $20, but Terra price could extend as high as $24.39 at the 127.2% Fibonacci level.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
AI Tokens Price Prediction: Story, Virtuals Protocol rebound following sell-off after US strikes on Iran
Geopolitical tensions in the Middle East caused a liquidation havoc of over $1 billion in the cryptocurrency market over the weekend, following US President Donald Trump’s direct involvement in the conflict between Israel and Iran.
Crypto Today: Bitcoin, Ethereum, XRP flash recovery signals after rollercoaster weekend
The cryptocurrency market is gearing up for recovery following a geopolitical tension-triggered sell-off over the weekend after the United States (US) struck Iran's nuclear sites in support of Israel's campaign.
Quant Price Prediction: Award-winning payment platform eyes bullish reversal
Quant edges higher by 1% so far on Monday, after winning the Best Programmable Payment Platform at the Future of Finance Awards. The optimism surrounding Quant grows in the derivatives market, evident with the QNT Open Interest spike.
Bitcoin Price Forecast: BTC rebounds to $102,000 as MetaPlanet buys the dip, geopolitical fears linger
Bitcoin (BTC) price rebounds slightly, trading around $102,000 at the time of writing on Monday after dipping to $98,200 the previous day. Institutional investors further supported the price recovery as MetaPlanet added 1,111 BTC to its treasury reserve.
Bitcoin Weekly Forecast: The calm before the storm
Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.
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.