The post Terra (LUNA) Price is Surging! Will it Make it to $0.5 in the Next 24 Hours? appeared first on Coinpedia Fintech News
The lost altcoin, Terra, is slowly gaining momentum as the bulls appear to have become slightly sure of the upcoming trend. The price has rebounded from the same support zone, which it had flipped multiple times in the past couple of months. The buyers appear to have become optimistic over the next price action, and hence the LUNA price is expected to accomplish a bullish pattern to reach the upper resistance.
Terra is among the altcoins which have a small market cap of around $270 million, while the trading volume has spiked by more than 340% in the past few hours. The raised interest of the market participants indicates a massive increase in bullish sentiments. As a result, the LUNA price has now broken from an extended consolidated phase which may pave the way for a huge bullish rally in the coming days.
While the target at $0.5 appears to have been triggered, the question arises whether the Terra (LUNA) price will make it to $1.
LUNA price has begun to rise and as the buying pressure appears to be rising, the token is believed to enter the resistance zone between $0.45 and $0.46. The MACD underwent a bullish crossover but remains within the negative range, however, a rise to the interim resistance may elevate the levels within the positive zone. This move could certify a rise from the bearish influence which could set up a fine rise towards the next target close to $0.6.
The bulls are required to demonstrate some strength here, which may further set up a fine rise to $0.7, which could be a crucial one ahead. The Terra price has been constantly failing to breach these levels during the H1 trade, and as the levels remain untested for over a couple of months, the bears may not remain vigilant at these levels. Therefore, one straight rise to these levels may break the bearish support and initiate a fresh rise to the $1 milestone.