The hype for the Terra crypto project is still pretty in the crypto community. LUNA prices soared by more than 550% in the past year alone. A few weeks earlier, prices managed to break the strong psychological price of $100. After the bullish breakout , the price was able to reach around $120 while making a new all-time high. However, an adjustment was overdue, which brought back prices to this $100 level. Now the question arises: should you BUY LUNA? We at CryptoTicker are giving you a new Terra Luna price prediction to assess the current situation.
Why is Terra LUNA a good project?
Terra is currently one of the hottest projects in the market, which is why many investors are interested in investing in it. Founded by Do Kwon and Daniel Shin, this project has existed for over 3 years. Terra is essential a project that leverages decentralized finance (DeFi) technology to create a platform for rendering financial services.
The protocol creates stablecoins, usually pegged to currencies or other cryptocurrencies. For instance, many ecosystems create stablecoins pegged to the dollar to assure asset stability. This makes it easy for users to access financial services, such as saving, lending, or borrowing money. Previously, it was only the traditional financial system that encompassed financial services. However, things have changed, helping crypto and digital asset enthusiasts to enjoy decentralized services.
LUNA Price reached an IMPORTANT LEVEL! Now what?
After breaking out of an ascending triangle, Terra Luna price was able to confirm the breakout by retesting and thus confirming the former resistance of +/- $98.50 as support. After that, the price has risen to the current all-time high of around $120. Today, the price is again at the support of $98.50, which is why buying LUNA could be worthwhile. Once the price hits the support, we expect a fresh increase. This could hold up to $136.50 as that is where the triangle’s target is located. The price will most likely not increase all at once, however, the price could climb to $136.50 in a couple of weeks.
LUNA Price Prediction – How far can LUNA rise?
The Terra Luna price is still in an ABC sequence and could gradually work through it. Upon reaching the target of the triangle, the first target of the sequence, located at around $146, would be completed. After that, there could be a major correction. The price could then rise to $200 – $245, which is why an investment in LUNA could definitely be profitable.
