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
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.