Ever since Bitcoin price slashed drastically, the crypto space appears to have trembled a little. While some of the cryptos are still recovering from the losses, some possessed an extreme bullish tendency to regain their positions quickly. Terra (LUNA) coin is among those cryptos which shed their gains, yet reached close to its ATH in a very small stipulated time frame. Moreover, Terra (LUNA) price is hovering in a very decisive phase were-in the price may jump in either of the directions shortly.
Terra price gained huge traders’ attention recently while it followed the Solana price rally and ranged high from nowhere. Currently, after facing a drain, the LUNA price is attempting to recover that including a couple of pullbacks too. However, the asset managed to overcome the loss to range close to the discovery phase.
What’s Next For LUNA Price?
As mentioned before, the Terra price is hovering along with the crucial phases and hence the price may hover in either of the directions. As the price appears to trend within the ascending triangle, the price may either swing within the triangle for some more time before breaking out. Else the asset which is very close to the resistance levels of the triangle may eventually break these levels in an upcoming couple of hours.
Coming to the technicals, MACD is in a very good position which does point out a minor downtrend. And the RSI is maintaining an upward trajectory which again indicates a bullish trend. In both cases, the asset tends to get exhausted after a notable rally which may be short-lived. Yet the rally may still regain bullish momentum and smash a 3-digit figure by the end of 2021. And hence Terra(LUNA) price could be among the coins which have a very short recovery time.
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