Terra (LUNA) shows considerable bullishness while trading in the green. For now, the altcoin rally received a boost from the news that Kraken considered listing the LUNA token. Terra’s coin bounced from 50-day SMA at $51.77 following the developments. With that, LUNA experienced a 20% rally towards its current price near $62.62.
Kraken Lists Terra’s LUNA
Kraken exchange boosts Terra mainnet through listing its in-house token for trading. The United States trading platform announced via its blog on 14 December, urging market platers to stay ready with their deposits as they will LUNA trading starting 16 December, Thursday.
That means the exchange will accept order execution and entry today. Interested users can add the alt to their Kraken account by visiting Funding, choosing LUNA, and tapping Deposit. Moreover, there are no confirmation requirements for the deposits. Users will trade LUNA against EUR and USD, with two decimal places price precision.
Accessible services after LUNA listing are Kraken Terminal and Kraken. For now, market players would not access margin and futures trading. The updates with Fed’s decision to leave interest rates unbothered and the bond tapering plans will strengthen the global market recovery, fueling surges for LUNA’s impressive rally.
Terra’s LUNA Eyes an Upward Move to $80
LUNA had its price forming a V-pattern on the daily chart, depicting a sharp price recovery. A V-shape pattern emerges when crypto declines significantly then registers a sustained upward surge. For instance, LUNA had its price hovering at $62.62 while bulls contemplate higher moves past $80, suggesting a nearly 27.8% surge.
MACD’s upward move beyond the zero line within the positive territory reinforces the upward narrative. Meanwhile, LUNA’s bullish increase will receive more traction when the Moving Average Convergence Divergence crosses past the signal line, which might happen in the short term.
LUNA/USD Daily Price Chart
Meanwhile, a daily close under the psychological level of $60 will invalidate LUNA’s bullish price forecast. If that occurs, Terra might see its price retesting the support floor around $55 or fall further to 13 December low near $51.77.
Stay tuned for upcoming crypto markets updates.
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