LUNA Technical Analysis - Buying Spree Ready To Hit $125

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

 

Today's live LUNA token price was $113.9 at 05:30 GMT, with an intraday trading volume of $2,194,662,207. The coin price has decreased by 2.22% in the last 24 hours. With a live market cap of $40.23 Billion, LUNA remains in the Top 10 coins in the crypto-verse.

 

LUNA coin price shows the rounding bottom breakout rally facing increased selling activity at the $110 mark on 30th March. Hence, sellers induced a retest of the bullish pattern breakout with the neckline at the psychological barrier of $100. Post-retest buyers regain trend control and break above the 50% trend-based Fibonacci retracement level at $110.

Let’s have a deeper insight into the technical analysis of the LUNA token and see what the indicators have to say about it.

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