Terra (LUNA) Price Performance and Market Analysis
If you’re interested in the price performance of Terra (LUNA), Loom Network (LOOM), and Shiba Inu (SHIB), here’s an overview of the latest news and some future predictions.
The current value of Terra (LUNA) is approximately US$0.409712, with a trading volume of US$17,079,040.64 in the past 24 hours. It has seen a 0.98% increase in the last 24 hours and a 3.92% decrease over seven days. With a circulating supply of 400 million LUNA, Terra’s market capitalization stands at $164,489,132.
Over the past 24 hours, Terra’s trading volume has increased by 125.00%, indicating a recent surge in market activity. The lowest price recorded for Terra (LUNA) was $0.377574 on September 21, 2023, making the current price 8.47% higher than the recorded low.
However, Terra (LUNA) has underperformed compared to the global cryptocurrency market, which has declined by 3.10% over the past seven days. It is also underperforming similar currencies to ‘Alleged SEC Securities,’ which have declined by 3.50%. Additionally, over 60% of users have shown negative sentiment towards Terra (LUNA).
Rounding-Bottom Pattern Indicates Potential Bullish Rally for LOOM
In recent months, LOOM Network has demonstrated superior performance compared to many major cryptocurrencies. It recently completed a Rounding-Bottom pattern, suggesting a potential prolonged bullish trend.
The price of LOOM has experienced a parabolic rally since early September, rising from a low of $0.037 to $0.35, marking an 855% increase. This surge broke through key resistance related to a long-standing rounded bottom pattern, indicating positive prospects for this altcoin.
Currently trading at about $0.365 with an intraday gain of 5.86%, LOOM’s potential target, according to the pattern, is $0.468, a 27% increase from the breakout point.
It is important to note that rapid growth may require a correction as aggressive buying often leads to pullbacks to consolidate positive momentum. These pullbacks could offer buying opportunities for attentive market followers.
Increasing Profitability and Price Analysis for Shiba Inu (SHIB)
According to IntoTheBlock’s on-chain analytics platform, Shiba Inu has seen a slight increase in profitability as its price settles at a key point.
Profit-making addresses for Shiba Inu have increased from 7% during last week’s massive selling period to the current 9%. The price of SHIB has maintained its gains and is up about 1.04% in the past 24 hours, currently priced at around $0.000007.
If the supporters of the bullish trend succeed in maintaining the $0.000007 level, SHIB could target the next resistance at $0.0000074 (the 50-day moving average). However, if bearish pressure returns, SHIB could be subject to a retest of the $0.0000067 level.
The Shiba Inu token burn continues steadily, with a total of 13,339,085 SHIB tokens burned in 23 transactions in the past 24 hours and 278,909,750 SHIB tokens burned in 159 transactions over the past seven days.
Hot Take: Analysis and Predictions for Terra (LUNA), Loom Network (LOOM), and Shiba Inu (SHIB)
In summary, Terra (LUNA) has seen mixed performance, underperforming compared to the global cryptocurrency market and similar currencies. LOOM Network shows potential for a bullish rally with its rounding-bottom pattern, indicating positive prospects. Shiba Inu’s profitability has increased slightly, and its price is settling at a key point, with potential targets and support levels to watch out for.
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