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With over 1812% Decrease in Terra (LUNA) Price in 24 Hours- $21.52 could be reached Soon -Breaking

by Mike Robinson

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Over 1812% Price Drop in Terra (LUNA), in 24 hours- $21.52 Could be attained Soon
  • LUNA’s bullish forecast is $21.52 to $36.82
  • LUNA may reach $21.52 due to its receovery.
  • LUNA Bearish Prediction: $0.70

Native token LUNA (or LUNA) is one top cryptocurrency that has seen a significant implosive increase since the crypto winter. Currently, LUNA trades at $1.71 with a 24-hour decrease of more than 1812%. It is due to its minimum and maximum prices for the 24 hours according to CoinMarketCap being $0.8384 and $32.71, respectively. The record price for LUNA was $119.18 on April 5, 2022.

Some of the factors are: the implosion at TerraUSD network stablecoin (UST) as well as the inability for traders to withdraw to Binance exchange, number one in LUNA token.

We will be looking at chart in order to determine the long-term prospects for LUNA investors.

1.DAY LUNA/USDT Chart showing the Key Levels (Source : Tradingview

We can see the following from the chart.

  • The current price for LUNA is around January 2021.
  • Due to the reversal at $0.70 support, the price for LUNA could surge to $21.52 when resistance 1 is reached.
  • Historical data shows that LUNA’s price is likely to breakout at the resistance 1 level. This was around April 2021. The resistance 2 level could see a price increase to $36.22 before any reversal.

    • Conclusion

    Terra (LUNA), which investors had been affected from this market collapse, could recover soon if their patience is good. Do Kwon, Terra’s founder, had posted a tweet saying that the market was on a partial recovery.

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