The recent sell-off had shaken the crypto space a little. Many fell prey to the FUD being circulated that led to a massive panic selling. Terra which was following a steady upward trajectory suddenly dropped more than 15% in less than 24 hours. However, LUNA price without remaining quiet, rose quickly and marching to its ATH at $54.
Terra, gained huge user attention and adoption soon after the Solana price rally in the past coupleof months. The asset went to barge through the barriers and register new highs every new day. Currently, the LUNA price is up by nearly 9% where-as most of the assets are yet to recover from the fres sell-off’s. And hence a popular analyst believes Terra soon may enter the top 5 crypto assets.
The analyst, Ran Neuner also lists the reason that why Terra is capable to be apart of the top 5. Ever since the asset has sliced through the strong resistance levels, it is swinging within an ascending upwards channel.
And hence the channel may lead the price beyond the current ATH. Moreover, the volume also had risen enormously by more than nearly 100% that points out towards the price upward trajectory as buying pressure prevails.
Interestingly, the Terra price is testing one of the crucial resistance levels which it has faced a rejection multiple times. The zones around $48.55 are pretty important for the LUNA price to clear the path towards a new ATH.
However, the target for the asset asset still hovers around the 3-digit figure. Yet many hope the target is reached by the end of 2021 or somewhere in Q1 2022.
Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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