Terra price analysis

Terra price analysis shows a downward trend for today. The bears once again took over the price chart, sinking the price from $92 to $85; As the broader market is a bear, so is LUNA.

Selling pressure emerged in the last few hours of the previous trading session, turned the entire trend into yesterday’s downtrend and is still moving. Although the price is in the upper price channel to date, LUNA marked a new record high on April 4, but the coin is in a sharp correction and significant losses, further price declines are also expected in a few hours.

LUNA/USD 1-day price chart: bulls stand helpless while bears dominate

The one day price chart for Terra price analysis shows that the price level has dropped significantly today due to the price break below today and the price continues to fall. The LUNA/USD pair is trading at 85.7 at the time of writing and down another 7.5 percent on the day.

As the coin fell, the crypto pair also posted a 23.17 percent loss over the past week as bears dominated the market for the past seven days and there was a bullish lead in just one day. Trading volume was up 70.66 percent over the past 24 hours, giving LUNA a 1.61 percent market dominance.

Volatility increased for LUNA/USD as Bollinger Bands diverged again, with the indicator’s top end at $119.8 being the strongest correction, but that’s not important at the moment. The bottom of the Bollinger Bands is worth $82.8, which is the strongest support, which is an important point to watch in the coming hours.

The Relative Strength Index (RSI) is moving sharply lower and has hit the 40 indexes at the bottom of the neutral zone. The RSI level is still acceptable, but may fall further in the coming hours if the strong sell-off continues.

Terra Price Analysis: Latest developments and additional technical information

The 4-hour price chart for Terra price analysis shows a steady decline in the price and no significant upward movement was observed today, although the bulls descended between them and tried to increase the price level for several hours, but they were soon overtaken by the bears. . The price is falling again and there has been a decline in the last four hours.

Read More Cardano’s price analysis

The Relative Strength Index (RSI) has recently entered the no-sell zone and its curve is currently declining to reach 28. The RSI curve shows high market selling activity and heavy bearish pressure that has absorbed the price action.

The moving average (MA) continues to trade below the 50 SMA at $92 and the price is trading below the lower border of the 4-hour chart Bollinger Bands which is support for LUNA/USD at $86.5. The overall volatility indicator continues to fall, indicating that the price will move lower in the coming hours.

The conclusion from Terra price analysis
Terra’s price analysis shows that most of the technical indicators give bearish signals, but by looking at the chart patterns and the decline in the RSI, one can expect the price to continue falling in the hours and days ahead LUNA may enter the $70 area in the next trading session.