Can LUNA Maintain a Rebound at $0.91? Expert Predicts Future Price.

Can LUNA Maintain a Rebound at $0.91? Expert Predicts Future Price.


Learn about the current state of Terra’s LUNA token, which is experiencing consolidation in buying volumes and facing crucial support and resistance levels, as well as potential price recovery and targets in this analysis.

Despite the fact that the outlook for Terra (LUNA) appears positive  tendency, Terra (LUNA) market value is as of now experiencing a consolidation in buying volumes. 

In doing so, Terra’s Terra (LUNA) price remains trapped during a critical level of support at $0.91 and a resistance level at $1. In May 2022, the TerraUSD (UST) crypto stablecoin experienced a crisis, losing its $1 value and leading to whole lot of losses and bankruptcy filings in the cryptocurrency market.

Further, Kwon is as of now facing criminal charges in the  United States and South Korea for fraud, securities law violations, and other offenses related to the collapse. Regardless of the accusations, Kwon denies the charges and argues that the mistakes leading to the impact were created by Terraform Labs, not by him or the company intentionally deceiving investors.

He further asserts that the charges against him in South Korea are politically motivated.  Kwon and Han are scheduled to appear for their next hearing on June 16.

Terra (LUNA) Token’s Price Recovery and Potential Targets

LUNA, the crypto token that resurfaced after the TerraUSD (UST) collapse in May of the previous year, has gradually recovered from its level of support of $0.85 and is currently worth $0.91 at press time. Nonetheless, its value movement is as of now constrained by the 50-day Exponential Moving Average (EMA) at $0.9617.

The Relative Strength Index (RSI) further strengthens the positive  tendency sentiment surrounding LUNA, as it exhibits a positive divergence and remains over both the midline and the ascending trendline.

For Terra (LUNA)’s  price recovery continuation and surpass the $1 mark, it is necessary for the bulls to successfully push the token’s value over the 50-day EMA, represented by the red line on the chart.

On the four-hour chart of LUNA/USD, if the price breaks and sustain over the $1 level, it would not only confirm the positive  tendency momentum of the crypto token but likewise open up opportunities for further profits. The preliminary targets for such an upward move would be $1.2, followed by $1.5 and $2.

Nonetheless, traders would closely observe certain indicates to validate this positive  tendency scenario. 1 important factor would be Terra (LUNA)’s  capacity to overcome potential resistance from sellers clustered around the 50-day Exponential Moving Average (EMA) represented by the blue line. In addition, a successful breakthrough over the 200-day EMA, showed by the green line, would further reinforce the positive outlook for LUNA.

Terra (LUNA) Price Prediction – LUNA/USDT Daily Chart Analysis

Can LUNA Maintain a Rebound at $0.91? Expert Predicts Future Price.LUNA/USDT. Source: Tradingview.com

Terra’s Terra (LUNA) crypto token has experienced a whole lot of price decline, and its investors are as of now facing a precarious situation. The level of support broken at $1.1 lowered the price to $0.9, showing a shift in market sentiment. The ongoing sell-off and overall instability in the digital currency market could exacerbate the situation.

Although while a recent level of support was established at $0.88, there is no guarantee that it will be sufficient to withstand the bearish pressure. Terra (LUNA)’s  price may continue consolidating, trading betwixt $0.90 and $0.98. Nonetheless, it’s critical to note that these projected losses could extend even further.

Analyzing the charts, we can likewise observe that Terra (LUNA) is trading below all major moving averages on both the four-hour and daily timeframes. This suggests a negative tendency and shows that the crypto token faces whole lot of resistance from these moving averages, including the 50-day EMA and the 200-day EMA.

Nonetheless, the RSI argues that Terra’s Terra (LUNA) price has exhausted the downtrend and is preparing for a rebound as it sits on the lower end of the neutral region, slightly over the oversold area.

For a positive outcome to occur from the recently oversold conditions, bulls must overcome their fear and rejoin the market, restoring Terra (LUNA) buying volumes. For Terra (LUNA) to maintain the go up, it must surpass the upper range limit of $1.1.

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