{"id":409738,"date":"2022-02-25T20:12:12","date_gmt":"2022-02-25T17:12:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/terra-luna-price-nears-key-level-after-rallying-45-this-week\/"},"modified":"2022-02-25T20:12:12","modified_gmt":"2022-02-25T17:12:12","slug":"terra-luna-price-nears-key-level-after-rallying-45-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/terra-luna-price-nears-key-level-after-rallying-45-this-week\/","title":{"rendered":"# Terra LUNA price nears key level after rallying 45% this week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dcbfc29ba8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dcbfc29ba8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/terra-luna-price-nears-key-level-after-rallying-45-this-week\/#Descending_channel_risks_LUNA_decline\" >Descending channel risks LUNA decline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/terra-luna-price-nears-key-level-after-rallying-45-this-week\/#LUNA_best_performer_this_week_so_far\" >LUNA best performer this week so far<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Terra LUNA price nears key level after rallying 45% this week <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>A rebound rally in the Terra (LUNA) market this week risks exhaustion as the price retests a key trendline for a potential pullback.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Descending_channel_risks_LUNA_decline\"><\/span>Descending channel risks LUNA decline<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>LUNA has been trending lower inside a falling channel\u2014made up of two parallel descending trendlines\u2014since December 2021. In doing so, the Terra token typically tests the lower trendline as support for a rebound to the upper trendline, as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/e162975f-1748-4c6f-b75a-b8dad837fa6e.png\"><figcaption style=\"text-align: center;\"><em>LUNA\/USD daily price chart featuring falling channel. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Similarly, a pullback from the upper trendline sends the price to the lower trendline. For now, LUNA looks poised to repeat the correction move, taking further cues from its daily relative strength index that now treads near its overbought reading of 70 \u2014 a sell indicator. <\/p>\n<p>If the pullback occurs, the price would risk dropping to its interim downside target near $52, coinciding with the 0.5 Fib line of the Fibonacci retracement graph drawn from $4-swing low to $100-swing high. <\/p>\n<p>If an extended correction occurs, LUNA could retest $40, a 0.618 Fib line that comes closest to the falling channel&#8217;s lower trendline.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"LUNA_best_performer_this_week_so_far\"><\/span>LUNA best performer this week so far<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The short-term bearish outlook <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears after Terra&#8217;s 45% price rally to around $68 this week, its best level since Jan. 25. Interestingly, LUNA\/USD went higher despite a gloomy outlook elsewhere in the crypto market, led by the Russian military&#8217;s invasion of Ukraine that dampened investors&#8217; risk-on sentiments.\u00a0<\/p>\n<p><strong><em>Related:\u00a0Terra avoids Ukraine concerns rallying 18% in three days \u2014 Can LUNA price reach $200 next?<\/em><\/strong><\/p>\n<p>The next-best performing token this week among the top cryptos has been Cardano (ADA). Interestingly, ADA&#8217;s week-to-date returns sit near 6% below zero, meaning LUNA has been outperforming its nearest rivals, including Bitcoin (BTC) and Ether (ETH), by a wide percentage margin in the said period.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/8bca51d8-3fd1-4797-aa85-ebc62944098c.png\"><figcaption style=\"text-align: center;\"><em>LUNA weekly performance vs. other top assets. Source: Messari<\/em><\/figcaption><\/figure>\n<p>LUNA&#8217;s superior performance appeared partly due to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> surrounding the $1 billion raised to establish a Bitcoin reserve for Terra&#8217;s stablecoin UST. Additionally, Anchor Protocol (ANC), which recently received a $450 million UST from the Luna Foundation Guard (LFG), rose by nearly 70% under Terra&#8217;s shadow.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. 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Descending channel risks LUNA decline LUNA has been trending lower inside a falling channel\u2014made up of two parallel descending&#8230;<\/p>\n","protected":false},"author":1,"featured_media":409739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvYmJjZTEzZWQtNzBiYi00YTJmLWE1ZmYtY2YwOGMwMTljNTU4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,81951,74982,74938,74939,75493,78261,122378,73785],"class_list":["post-409738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin-analysis","tag-btc-markets","tag-ethereum-price","tag-market-analysis","tag-stablecoin","tag-tech-analysis","tag-terra","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/409738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=409738"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/409738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/409739"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=409738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=409738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=409738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}