Terra and Curve technical analysis point to buyers. CRV/USDT and LUNA/USDT prices may rise to $3.5 and $22, respectively.
Terra Protocol (LUNA)
The Terra Protocol is powering programmable money for the internet using Cosmos’s virtual machine, recently launching the Mirror Protocol enabling the rollout of synthetics. Its native currency is LUNA.
Past Performance of LUNA
From LUNA technical analysis, the path of the least resistance is northwards.
LUNA trades at $17, adding nine percent on the last day and 29 percent week-to-date versus the USD.
The coin has also gained double digits against both ETH and BTC in the past week of trading.
Day-Ahead and What to Expect
LUNA/USDT bulls are bullish, judging from price action in the daily chart.
After last week’s correction, LUNA prices are inching higher with increasing trading volumes.
On the previous day, the average trading volumes of LUNA rose five percent to $6.3 billion.
The LUNA/USDT price is reversing from strong support levels enveloped between the 50 and 61.8 percent Fibonacci retracement levels of the Q1 2021 trade range.
LUNA prices are also within a bullish breakout pattern, clearing above the descending channel with increasing trading volumes as aforementioned.
LUNA Price Analysis
The path of the least resistance is northwards in the immediate term.
LUNA/USDT prices closed above the 20-day moving average and the descending channel with rising trading volumes.
Therefore, provided prices are above $14, every low may provide a loading opportunity for LUNA buyers aiming at $22—Feb 2021 highs.
On the flip side, sharp losses below $12 nullify this upbeat LUNA price prediction.
Curve DAO Token (CRV)
Stablecoins are indispensable in DeFi and Curve.fi enables users to trustlessly swap leading ERC-20 tokens. CRV is the governance token.
Past Performance of CRV
CRV/USDT technical analysis points to a stabilizing token after days of lower lows.
The CRV price is within a $0.40 range with caps at $2.2 and $2.6 on the last trading day.
For bulls, rising trading volumes is a shot in the arm. Participation rose 46 percent to $207 million on the previous day.
Day-Ahead and What to Expect
CRV bulls are firm and the CRV/USDT uptrend is firm.
On the last day, CRV is up six percent against the greenback, helping reverse the deep losses of the past week. Week-to-date, CRV is down 18 percent.
CRV prices found support at the primary support trend line and the 50 percent Fibonacci retracement level of the Q1 2021 trade range.
CRV/USDT Price Forecast
CRV/USDT prices are within Apr 18 trade range—technically bearish from a volume analysis perspective.
As long as $2.2 and the support trend line holds, CRV bulls may drive prices towards $3.5. Accordingly, there might be an opportunity for aggressive CRV traders to buy dips with targets at $3.5.
Trend continuation losses below $2.2 confirm Apr 18 losses and may see CRV fall to $1.5—the 61.8 percent Fibonacci retracement of Q1 2021 trade range.