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Terra [LUNA] to reach the moon on Santa’s sleigh; New all-time high unlocked

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Bulls were rolling in the gifts into the crypto market upholding the Christmas spirit. Terra [LUNA] was on Santa’s “Nice” list as the altcoin went away with increased profits.

The crypto market was back in action. After spending days in a bearish regime, the cryptocurrencies were ready to move on. Bitcoin [BTC] finally took a leap above $50K. During press time, the king coin was trading for $51,066. All the other assets followed suit and decided to make the most of the ongoing bullish cycle.

Terra [LUNA] was the star of the show. The altcoin recently slipped back below $90 as its pursuit to reach $100 was interrupted. However, now, LUNA managed to hit an all-time high of $101.27. At the time of writing, the asset experienced a bit of a setback, as it was trading for $98.93. Over the previous 24-hours, the altcoin was bagging profits of about 13%. The last couple of days have been extremely generous for the altcoin as Terra surged up to 54%.

Sitting still as the ninth-largest cryptocurrency, Terra’s market cap was at $36 billion. Meanwhile, Bitcoin was trying to hit $1 trillion. Additionally, the global crypto market cap, at press time was $2.38 trillion.

Terra [LUNA] four-hour price hart on Binance

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Terra [LUNA] to reach the moon on Santa's sleigh; New all-time high unlocked 2

The short-term price chart or the four-hour chart of Terra noted nothing but bulls in its market. The Chaikin Money Flow [CMF] indicator affirmed that LUNA was in the bullish market. The CMF marker resided over the zero median. The MACD line was over the signal line forming a bullish crossover.

With all these signs directed at the bull, the chances of LUNA hitting a new all-time high weren’t too bleak.

The Relative Strength Index [RSI] indicator revealed that Terra was being extensively purchased. The RSI marker almost hit the overbought zone.

Bullish days ahead for Terra [LUNA]; Can LUNA make it to $100?

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The bulls were slowly trying to exit the crypto market. Coins like Terra [LUNA], Solana [SOL] and Avalanche [AVAX] seemed to be the victims of the trend reversal. The other coins weren’t far behind as they sluggishly followed suit. Bitcoin’s aim to rise above $50k was once again disrupted by the bears. During press time, the king coin was trading for $48,450. Consequently, the market cap of BTC slumped to $914 billion.

The meme coins, Shiba Inu [SHIB] and Dogecoin [DOGE] were having a ball while the other coins were being sucked into the bearish pit.

Terra [LUNA] amassed immense popularity over the last couple of months. The altcoin managed to garner a spot in the top 10 beating prominent crypto assets. Currently, Terra sits as the ninth largest cryptocurrency with a market cap of $31/74 billion.

Moving over to its price, the bulls in LUNA’s market pushed the price of the coin all the way to a high of $97. So close yet so far. Despite being so close to $100, Terra failed to move beyond it. At the time of writing, LUNA was trading for $86.93 with massive price drop of 9.74%. Over the last couple of days, the altcoin secured gains of up to 33%.

Terra [LUNA] one-hour price chart on Binance

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Bullish days ahead for Terra [LUNA]; Can LUNA make it to $100? 4

The short-term price chart of LUNA affirmed that the altcoin was in for a change. The Parabolic SAR indicator used in the chart was singing a whole different tune. The indicator laid out dotted lines over the price candles forming a potential hurdle for an upward breakout. However, the Awesome Oscillator indicator released a very bullish notion. The indicator formed a green closing bar and restored hope in the LUNA market.

The Relative Strength Index [RSI] indicator suggested that the LUNA market was filled with sellers. Since the RSI marker was dipped below the 50 median yet was directed towards the buyers’ zone, a possible change could be underway.

Terra [LUNA] reaches for the moon while other assets settle in a slump

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The crypto market was in a major slump. Terra [LUNA], however, was steering in a whole different direction. The altcoin was the only asset in the crypto market that harbored the bull, while all the others were dreading the presence of the bear.

Binance Coin [BNB] and XRP noted dainty recovery from the ongoing bearish cycle. But, Terra noted significant growth over the last couple of hours.

At the time of writing, Terra [LUNA] was trading for $74.89 with a 10.45% surge over the last 24-hours. Just four days ago, LUNA hit an all-time high of $77.94. The existing notion in the coin’s market could further push LUNA towards $80.

The ranking of crypto assets witnessed major fluctuations this year. The meme coins took over for some time, while the spot for the third-largest asset was acquired by many. Now, an underdog stepped into the top 10 by overpowering prominent coins like Polkadot [DOT], Dogecoin [DOGE], and even the fan-favorite, Shiba Inu [SHIB].

With a market cap of $28.6 billion, LUNA managed to amass the ninth spot. However, the chances of DOT flipping LUNA were high considering the limited disparity between the two.

Terra [LUNA] one-hour price chart on Binance

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Terra [LUNA] reaches for the moon while other assets settle in a slump 6

Looks like the bears weren’t going to spare any coin. The short-term price chart of LUNA revealed that the bulls were still in its market, however, the bears could attack any time soon. The MACD line remained above the signal line, yet the MACD line was slowly trying to sink below the signal line. Therefore, the MACD indicator could be hinting at a possible bearish crossover in the making.

The Chaikin Money Flow [CMF] exerted a bullish notion. But, the CMF marker was alarmingly close to the zero median.

The Relative Strength Index [RSI] indicator noted a buyers’ market. This could easily be changed as the RSI marker was pointed towards the sellers’ side.

Terra [LUNA] leads the altcoin pack as it soars to 18% in 7 days

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As major cryptocurrencies started to slowly recover from the covid induced blow, lesser-known altcoins such as Terra [LUNA] defied the sustained bearish momentum in the broader market. The asset price appreciated by 18.10% in a span of a week and is short by a mere 7% from its established peak on 8th November this year.

At the time of writing, the asset is changing hands at $48.01 with a 24-hour trading volume of $1.68 billion. Its market cap was found to be at $18.83 billion. The 13th ranked cryptocurrency rose by 5.42% in the daily hours.

Terra [LUNA] Daily Chart

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As gauged from the above 1-day price chart, the Bollinger Bands [BB] does not depict any volatility in the coin market. The MACD suffered a bearish crossover on 28th November before bouncing back up and exhibiting a bullish signal. On the other hand, the Klinger Oscillator [KO] is confirming the bullish narrative.

Terra [LUNA] 4-hour Chart

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In the 4-hour chart, the Awesome Oscillator [AO] is aligning with the bulls. The Chaikin Money Flow [CMF] rising above the zero line is projecting strong capital inflows in the market. In terms of the trading activity, the Relative Strength Index [RSI] indicator climbing above the 70 mark is depicting overbought conditions.

Terra, the firm behind the native token was launched in April 2019 by South Korean duo Daniel Shin and Do Kwon. Its LUNA token is used to maintain the price stability of its ‘stable-coins pegged to USD/EUR, similar to Tether’s usage of the US Dollar as a peg to build the USDT cryptocurrency.

Apart from that, the platform has witnessed the deployment of a wide catalog of decentralized finance or DeFi projects. Other products include a protocol for synthetic assets that follow real-world stocks called “Mirror,” a yield protocol dubbed “Pylon,” and a savings platform called “Anchor.” Overall, the Terra ecosystem is an expanding pool of diverse crypto financial products.

Terra [LUNA] Price Jumps on Trampoline as Bull Elevates Market Cap, Volume

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The cryptocurrency market’s positive turn has riled up the ecosystem with several new investors entering the industry. Altcoins made steady progress on the charts at a time when Bitcoin was tearing through new avenues. One altcoin making a name for itself was Terra [LUNA], as its market cap and volume shot up on Wednesday.

Luna has steadily been climbing ever since the first bull run during the summer. This unprecedented performance was helped along by a strong push from its community. At the time of writing, Terra was trading for $38.98 while its market cap held at a strong $15.629 billion. The day’s trading volume hit $795,368 after a hectic Wednesday that saw the price go up by 8 percent.

LUNA 1 hour price chart:

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Terra [LUNA] Price Jumps on Trampoline as Bull Elevates Market Cap, Volume 11

After registering consecutive green candles, Luna was on the verge of setting new immediate supports. The current support was at $35.6 after the cryptocurrency’s stagnant performance throughout October.

Relative Strength Index: The RSI hit a 2-week high as the graph moved on the overbought threshold. This meant that buying pressure outrightly overtook the selling pressure.

Chaikin Money Flow: The capital coming into the Luna ecosystem increased over the past week. The safety of the zero line looked solid as the graph cleared it with ease.

Bollinger bands: Both the bands moved parallel to each other after a strong Bollinger cloud formation.

LUNA 1-day price chart:

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Terra [LUNA] Price Jumps on Trampoline as Bull Elevates Market Cap, Volume 12

Luna’s distinct price increase was evident on the daily charts as its July losses were covered for. The long-term support was clocked at $25.2.

Chaikin Money Flow: The long-term graph fell below the zero line as the capital outflow overtook the influx. This was also the longest, the graph spent below the zero line since the middle of May.

Relative Strength Index: The long-term RSI was in the middle of the bandwidth. An increase in the HODLers is also expected to benefit the price.

Bollinger bands: Just like the hourly timeframe, the Bollinger bands moved parallel to each other here too.

Terra [LUNA] Hits Roadblock as Market Caps Crash; Investors Look to Long Term Investments

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The past week saw multiple changes in the cryptocurrency industry as prices fluctuated across the board. Even though Bitcoin moved past the $57,000 mark, altcoins failed to surmount a similar bullish charge. One of the altcoins suffering under the bear’s brunt was Terra [LUNA] after a good run of days that elevated it near the top 10 club.

At press time, Terra was trading for $36.4 with a total market cap of $14.54 billion. While the start of the month boosted the cryptocurrency’s performance on the charts, it still was not enough to sustain monthly gains. The daily trading volume fell to $1.18 billion even as user interest surged.

Entering the top 10 club has been an aim for the cryptocurrency even as developments take place on the network. Year to date, Terra has grown by 6922 percent after strong rallies in the second quarter. Terra’s rally could be attributed to its Columbus-5 network upgrade going last week.

The Columbus upgrade was seen as a marker by its ecosystem because of its connection to the stablecoin development. According to sources, the upgrade would better enable the TerraUSD ratio with the United States dollar. Some analysts have called Columbus a “huge and influential update” with the power to set the tone for the future.

A look at the investor sentiment further added to Terra’s lore. Despite the latest crash, the capital continued to enter the Terra market. The 4-digit growth in 2021 was a sign that the market was looking for more function and less flash. The Columbus upgrade’s ability to regulate the Luna supply is expected to be an important step in achieving that.

Solana [SOL] and Terra [LUNA] drown in the red sea, while bulls decorate the entire market green

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The entire crypto market was amassing gains under the bull supervision. However, Solana [SOL], Polakdot [DOT], and Terra [LUNA] were seen moving in the other direction. These assets were enduring major losses while all the other assets were making most of the ongoing bull run.

Dogecoin [DOGE] was undoubtedly the star of the show with an 11.93% daily surge, the meme coin even climbed up the crypto ladder. Bitcoin [BTC] followed suit and plunged itself over $50K. $1 trillion market cap wasn’t too far for BTC.

Solana’s [SOL] track record has been extremely promising. With significant surges in its price, the altcoin not only rose in terms of price but was also seen shining with regard to market cap. At the time of writing, however, the coin was seen enduring a plummet. During press time, SOL was trading for $156.50 with a 6.22% drop over the last 24-hours.

Solana [SOL] one-hour price chart on Binance

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Solana [SOL] and Terra [LUNA] drown in the red sea, while bulls decorate the entire market green 15

The short-term price chart of SOL spotted an array of bears. The Awesome Oscillator indicator affirmed this notion by laying out sturdy red closing bars. The MACD line continued to remain below the signal line further prolonging its bearish crossover. Additionally, the Relative Strength Index indicator noted that SOL was being oversold.

Terra [LUNA] one-hour price chart on Binance

Just after Terra [LUNA] hit an all-time high, the asset was seen on a downtrend. At the time of writing, LUNA was trading for $42.33 with an 8.68% dip over the last 24-hours. After surging by 21% over the last seven days, LUNA’s latest downfall was saddening.

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Solana [SOL] and Terra [LUNA] drown in the red sea, while bulls decorate the entire market green 16

The one-hour price chart of LUNA mirrored that of Solana’s chart. The Awesome Oscillator indicator once again rolled out red closing bars alerting the presence of the bear. This was then followed by a bearish crossover by the MACD indicator.

Furthermore, the Relative Strength Index indicator, similar to SOL, noted that LUNA was being oversold.

Terra [LUNA] Hits All-time Highs as Crypto Market Hits October Flux

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The first Monday of October saw the cryptocurrency market lurch into action, albeit a mixed one. Some cryptocurrencies tried riding the bull while most suffered under the bear’s brunt. As Bitcoin took a hit on October 4, some altcoins had found a way to circumvent the red path. 

One altcoin surpassing all expectations this week was Terra with rapid ascensions on the hourly and daily timeframes. At press time, Terra was trading for $46.32 while holding a market cap of $18.162 billion. The cryptocurrency’s 6.56 percent growth in the 24-hour spectrum allowed it to head towards the top 10 club. Right now, Terra’s market cap was still a whopping 10 billion behind its counterpart Dogecoin. 

Terra 1 hour:

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Terra [LUNA] Hits All-time Highs as Crypto Market Hits October Flux 19

Luna’s hourly changes had become positive towards the end of September as the successive price action sided with the bull. The immediate support was clocked at $33.6 after which the cryptocurrency charted unknown territories. After hitting its ATH on Monday, the cryptocurrency continued to register consecutive red candles. 

Bollinger bands: Both the bands diverged from each other after the price action reversal. Till the change, the large Bollinger cloud was indicative of the large change in Terra’s price point. 

Parabolic SAR: The immediate markers shifted to the top of the price candles after holding a significant ground under them earlier. Terra’s investor sentiment had shifted towards the negative, a marker for a slight dip in prices. 

Relative Strength Index: After the formation of the red candles, the RSI dipped sharply towards the halfway line. Despite this, Terra’s buying pressure was more than its selling pressure. 

Terra 1 day:

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Terra [LUNA] Hits All-time Highs as Crypto Market Hits October Flux 20

Long-term performance was indicative of the surge that can be attained by the altcoin ecosystem. After being near the $4 mark in August, Terra was now cruising at the $40 mark. 

Parabolic SAR: The markers were below the price candles as Terra continued to achieve long-term milestones. Strong investor sentiment was crucial to the sustained growth of a nascent altcoin. 

Relative Strength Index: Terra’s RSI shot up after its latest surge with swathes of new investors entering the market. The continued trust shown by the holders was evidenced on the graph. 

Bollinger bands: Just line its hourly counterpart, both the bands diverged from each other here too. The expected Bollinger cloud can be a marker for positive price actions yet to come. fds

Terra [LUNA]: Indicator signals caution despite an impressive growth structure

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At a time when several altcoins witnessed a freefall in response to Bitcoin’s dump, Terra [LUNA] emerged as one of the few tokens that have managed to hold its ground above the immediate support area.

LUNA has been trending higher since June this year and has recorded an impressive bullish streak at the beginning of this month after a brief halt. It was now the 11th-largest crypto asset by market cap. Its weekly gains stood above 13% despite corrections.

Over the past 24-hours, Terra [LUNA] experienced a minor pullback of 1.29% and traded at $36.60. At the time of writing, the digital asset recorded a market cap of $14.67 billion and a 24-hour trading volume of $1.51 billion.

Terra [LUNA] Daily Price Chart:

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Terra [LUNA]: Indicator signals caution despite an impressive growth structure 23

Terra’s [LUNA] trading volume has successfully backed the uptrend. The moving averages aligned with the bullish impetus and were hovering below the LUNA price candles. The 100 DMA [Blue] recently underwent a bullish crossover with the 200 DMA [Yellow], which led to an 85% price surge in a period of three days. The upsloping moving averages depict an advantage to the bulls. The volatility in the market is consistent, which can extend the price higher in the near term.

In short, the overall trend is optimistic even as the broader market is under pressure.

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Terra [LUNA]: Indicator signals caution despite an impressive growth structure 24

The closing green candles of Awesome Oscillator [AO] appeared to be increasing in size and indicated a rising bullish momentum in the market, which could mean that traders are buying on dips. The dotted markers of Parabolic SAR aligned below the LUNA candlesticks also rose optimism. But the bearish divergence on the daily Relative Strength Index [RSI] signaled caution as sellers look for dominance.

The immediate resistance for Terra stood near the recently established ATH of $43.4. The support points of the token, on the other hand, were found to be at $27.9, $24.7, and $15.5, respectively.

Terra [LUNA] looks undecisive after hitting overbought territory

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Terra [LUNA] is one of many layer one blockchains that has witnessed a significant uptick over the last few weeks. In fact, since the market-wide May crash, LUNA has registered gains of more than 737%. However, after an incredible run-up to an all-time high near $35, the crypto asset appeared to have switched to a consolidation mode. Additionally, the crypto-asset also dropped two positions lower on the leaderboard and was now ranked as the 14th-largest by market cap.

Owing to the bullish halt, Terra [LUNA] was being traded at $29.11 after declining by 12.62% over the past 24-hours. At the time of writing, the digital asset recorded a market cap of $11.69 billion and a 24-hour trading volume of $1.76 billion.

Terra [LUNA] Daily Price Chart:

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Terra [LUNA] looks undecisive after hitting overbought territory 27

The increasing volume in the LUNA market has managed to uphold the forward marching trend. Additionally, the diverging Bollinger Bands [BB] depicted an increase in volatility in the market which can boost the price of the digital asset to move north.

The moving averages hovering below the LUNA candles also indicated an optimistic outlook as the gauge between the 50 DMA [Pink] and the 200 DMA [Yellow] increased after undergoing a Golden cross in the first week of August.

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Terra [LUNA] looks undecisive after hitting overbought territory 28

The falling Chaikin Money Flow [CMF] did not display a promising trend for LUNA, instead showed a rapid outflow of capital from the coin market. The Stochastic RSI was on the verge of a bullish crossover and a bounce from the oversold region. The Relative Strength Index [RSI], on the other hand, maintained its position above the 70-region near the overbought zone indicating buyers have an upper hand in the crypto-asset market.

The above technicals demonstrated that Terra’s trends were undecisive as consolidation continued. To climb higher, the crypto-asset needs to breach the recently hit ATH near $35. Meanwhile, the support points were found at $22.17, $14.2 and $11.8 respectively.