Terra Price Analysis — April 8
Following a strong performance over the past few weeks, which climaxed with LUNA peaking at $119.55 on Tuesday, the cryptocurrency has recorded a sharp correction near the $100 price point as the broader market retraces.
This correction led to a breach below the 4-hour 100 EMA, indicating a return to bearish conditions. However, the price has extended deep into oversold conditions on my momentum indicators. That said, a bearish continuation below the $100 psychological mark is unlikely at the moment, given the prevailing market conditions and the presence of my multi-week-long ascending trendline.
However, I do not expect a bullish reversal anytime soon and foresee a sideways pattern between $100 and $110 into next week.
Meanwhile, my resistance levels are $104.00, $110.00, and $115.00, and my support levels are $100.00, $96.00, and $90.00.
Total Market Capitalization: $2.02 trillion
Terra Market Capitalization: $36 billion
Terra Dominance: 1.78%
Market Rank: #9
This correction led to a breach below the 4-hour 100 EMA, indicating a return to bearish conditions. However, the price has extended deep into oversold conditions on my momentum indicators. That said, a bearish continuation below the $100 psychological mark is unlikely at the moment, given the prevailing market conditions and the presence of my multi-week-long ascending trendline.
However, I do not expect a bullish reversal anytime soon and foresee a sideways pattern between $100 and $110 into next week.
Meanwhile, my resistance levels are $104.00, $110.00, and $115.00, and my support levels are $100.00, $96.00, and $90.00.
Total Market Capitalization: $2.02 trillion
Terra Market Capitalization: $36 billion
Terra Dominance: 1.78%
Market Rank: #9
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.