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Terra Price Prediction: LUNA Crashes and Touches $0.015 Support, What Next?

Date:

Terra Price Prediction – May 14

The Terra price prediction is struggling to beat the $0.031 level as the coin recovers 77.22% currently rising above the daily low of $0.015.

LUNA/USD Market

Key Levels:

Resistance levels: $40, $45, $50

Support levels: $-35, $-30, $-25

LUNAUSD – Daily Chart

LUNA/USD needs to reclaim the ground above $10 as soon as possible, the reason being that more action is expected above this level. However, the longer Terra (LUNA) stays in the negative, the stronger the bears get. Therefore, the support at $0.0005 may not be enough to hold the intense pressure. In this case, the LUNA price could refresh lows below the lower boundary of the channel.

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Terra Price Prediction: Would Terra Price Go up or Fall?

In the meantime, consolidation is likely to take precedence with support at $0.030, holding well. The technical indicator Relative Strength index (14) also emphasizes the possible downtrend action for the Terra price as the signal line moves within the oversold region. The same situation is reflected by the moving averages as the green line of 21-day MA is still above the red line of 9-day MA.

The next few days could be extremely crucial for Terra’s price. If the LUNA price fails to break above the 9-day moving average, the market price may continue to fall or it may just sit between the $0.050 – $0.010 price range. However, the resistance levels to keep eye on are $40, $45, and $50 while the supports are located at $-35, $-30, and $-25 respectively.

LUNA/BTC Market: Terra Price Remains at the Downside

When compared with Bitcoin, the Terra price has been dropping over the past few days as the coin prepares to cross below the lower boundary of the channel. However, the immediate support is below the moving averages at the $20 SAT.

Terra Price Prediction: LUNA Crashes and Touches $0.015 Support, What Next? Blockchain PlatoBlockchain Data Intelligence | Vertical Search AI
LUNABTC – Daily Chart

Meanwhile, the price may likely fall below the channel if the bears put more pressure on the market, a further movement could test the critical support at the -9500 SAT and below while the resistance is located above the 9-day moving average at 1000 SAT and above. Technically, Terra (LUNA) is currently on the negative side as the technical indicator Relative Strength index (14) stays within the oversold region.

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  • Source: https://insidebitcoins.com/news/terra-price-prediction-luna-crashes-and-touches-0-015-support-what-next

This Post was originally published on InsideBitcoins

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