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Terra LUNA Surges by 26.2% Overnight—Could It Lead to a New ATH? -Breaking

by Mike Robinson

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© Reuters. Terra LUNA Surges by 26.2% Overnight—Could It Lead to a New ATH?
  • LUNA has experienced a 26.2% growth in the past 24 hours.
  • LUNA currently stands at $93.32 as of the time this article was written.
  • If the bullish trend continues, LUNA may reach a new ATH.

Over the last 24 hours, LUNA has been displaying a bullish trend–making it the best-performing asset among the top 10 cryptocurrencies in CoinGecko. The coin currently stands at $93 and is expected to continue rising throughout the day.

At the time of writing, the coin sits at $93.32, a 26.2% increase from yesterday’s price of $73.97. LUNA’s price has fallen to $52.20 in the last week. Despite the market’s high volatility, it managed to climb its present position.

LUNA’s All-Time High (ATH), $103.34, was reached on December 27, 2021. Considering the uptrend of the cryptocurrency market in recent hours, can LUNA break its previous record to achieve a new ATH or smash it?

1. Day chart of LUNA/USDT

The chart shows that LUNA’s growth rate has been around 95% over the last eight days. If the coin can maintain a positive trend over the next few days, LUNA might be able hit a new ATH.

This is why bulls will need to convert the $100 psychological resistance in support for them and keep their prices stable despite any correction. It may be able to achieve a remarkable surge above the $182 forecasted price if it succeeds.

LUNA won’t be able sustain its predicted ATH if the pattern is broken. However, market traders can still be bullish since LUNA’s current trading value is just around 12% away from its existing ATH.

The global cryptocurrency market cap increased by 10.4% in 24 hours. This brings it to $2 trillion. Additionally, the crypto leaders have experienced a rise of 10.1% and 13.9% respectively.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.

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