Terra Price Analysis: LUNA Crypto Price Is Struggling To Stay Above The Support Zone

• Terra coin price is currently seeing a strong downside momentum which can lead it to a new low in the future. It is trading with a loss of 2% in the intraday session
• LUNA price technical indicators suggest a strong downside momentum in price. Meanwhile, LUNA/BTC pair has also observed a loss of more than 0.2%

Why To Invest In LUNA Crypto?

LUNA crypto price is seeing a strong downside momentum and can soon test the lower support. Terra coin price is trading with a loss of more than 1.49% and is trading near the value of $28. The ROI of Terra is more than 1235% which has kept the investors keen on the project for a long time. The bull trend of the coin has come to a halt in the asset price.

LUNA uses the price stability and large adoption of fiat currencies with the decentralization of Bitcoin (BTC) and offers a fast and affordable monetary payment system to its users. The development of the LUNA began a long time ago with its launch in mainent  . The brain behind the platform is Daniel Shien who has worked in several projects before forming LUNA. LUNA/BTC pair is also seeing a decline in the price and can test the lower support in future. One can invest in LUNA as per their needs and price action scenario.

Terra coin market dominance along with its cmc ranking has seen a decline in the past few days. The volume of the Terra has seen a rise but the market cap has seen a decline.Meanwhile, the volume to market cap ratio of the coin hints towards a strong downside momentum in price for the future

LUNA Crypto Price Bears May Push It To A Lower Support

The weekly technical chart of the LUNA coin price suggests a strong downside momentum in price for the future. On the daily chart the coin is seeing a strong downtrend . LUNA coin price may observe resistance while going upwards near $35 .The support region of the coin may see a support near $24. The price of the coin is currently trailing above the 50 and 100 Daily Moving Average, but can soon break below it. LUNA/BTC pair might also observe a new high in the future.

Conclusion

LUNA coin price is observing a downside momentum but can soon revert to the uptrend  . LUNA/BTC pair can also test the lower support in future

Technical Levels

Major Support:$20

Major Resistance:$35

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