Terra [LUNA] Reaches For The Moon While Other Assets Settle In A Slump


The crypto market was in a major slump. Terra [LUNA], however, was steering in a whole different direction. The altcoin was the only asset in the crypto market that harbored the bull, while all the others were dreading the presence of the bear.

Binance Coin [BNB] and XRP noted dainty recovery from the ongoing bearish cycle. But, Terra noted significant growth over the last couple of hours.

At the time of writing, Terra [LUNA] was trading for $74.89 with a 10.45% surge over the last 24-hours. Just four days ago, LUNA hit an all-time high of $77.94. The existing notion in the coin’s market could further push LUNA towards $80.

The ranking of crypto assets witnessed major fluctuations this year. The meme coins took over for some time, while the spot for the third-largest asset was acquired by many. Now, an underdog stepped into the top 10 by overpowering prominent coins like Polkadot [DOT], Dogecoin [DOGE], and even the fan-favorite, Shiba Inu [SHIB].

With a market cap of $28.6 billion, LUNA managed to amass the ninth spot. However, the chances of DOT flipping LUNA were high considering the limited disparity between the two.

Terra [LUNA] one-hour price chart on Binance

Terra [LUNA] reaches for the moon while other assets settle in a slump 3

Looks like the bears weren’t going to spare any coin. The short-term price chart of LUNA revealed that the bulls were still in its market, however, the bears could attack any time soon. The MACD line remained above the signal line, yet the MACD line was slowly trying to sink below the signal line. Therefore, the MACD indicator could be hinting at a possible bearish crossover in the making.

The Chaikin Money Flow [CMF] exerted a bullish notion. But, the CMF marker was alarmingly close to the zero median.

The Relative Strength Index [RSI] indicator noted a buyers’ market. This could easily be changed as the RSI marker was pointed towards the sellers’ side.



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