LUNA Technical Analysis - Will LUNA Downfall Hit $75 Mark?

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 $82.38 at 05:30 GMT, with an intraday trading volume of $1.88 Billion. The coin price has decreased by 6.89% in the last 24 hours. With a live market cap of $29.69 Billion, LUNA remains among the Top10 coins in the crypto-verse.

 

The LUNA price action shows the trendline breakout rally continues beneath the 50-day EMA and also reaches the 100-day EMA. The decline is responsible for a drop of 30% over the last ten days and is currently at an $80 level. In addition, the decline continues following the 50-day EMA test and erodes the bullish retracement that was seen over the last two days.

 

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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