- LUNA shows resilience despite the pullback in the cryptocurrency markets.
- LUNA Rallies as Other Leading Token Lack Surging Momentum.
While most top digital currencies show a lack of momentum as 2022 starts, Terra appears to kick-start the year with a bullish foot. The altcoin projects have seen massive popularity in 2021, the world’s 2nd-largest DeFi network at the moment. For now, market players wait for lucrative price movements from the alt as far as this year is concerned.
Among top crypto assets such as BTC, ETH, BNB, SOL, ADA, XRP, DOT, AVAX, DOGE, SHIB, LUNA remains the only token with a sturdy upward trend. Keep in mind that AVAX also exhibits an upside trend, though it recently failed to attain peaks of the last rebound. Other leading tokens remain in a retracement fails, authorizing Terra’s strength.
LUNA Seems Ready to Rising towards $100
LUNA discovered support around the $88 mark, and the alt tries to stabilize beyond the $92.5 resistance. Success here will see LUNA rising to challenge the following resistance at $98. Meanwhile, the $92.5 – $98 range does not have vital levels. Thus LUNA will sail without hassles.
Also read:Overcoming the resistance level at $98 will have the alternative coin exploring the resistance level of $101.5. If LUNA surges past this level, it will touch the hurdle at $103.50. Meanwhile, LUNA has its closest support floor around the $88 level. If the alt dips beneath this value area, it will approach the following barrier at 20 Exponential Moving Average at $84. Any move under the 20-EMA will clear the road to the support of $81.20.
According to the one-hour price chart, the RSI stays inside the moderate region regardless of the latest upward move. That shows LUNA has the possibility of recording upside action in the short term. Though trading volume dropped slightly during 2022’s initial day, it will pick up once LUNA settles beyond $92.50.
For now, crypto-assets appear to lack surging momentum. Correct sentiments are essential for digital tokens to witness lucrative upside actions. Nevertheless, crypto analysts remain bullish on crypto in 2022. Stay around for upcoming developments.
Editorial credit: SergeiShimanovich / shutterstock.com
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