MEXCTerra Price Analysis: Charts Signal Further Dip to $36.8; LUNA Price Loses 50% Retracement Mark
The aggressive selling has tumbled LUNA price 45% in just two weeks. The LUNA/USD chart shows a bearish breakdown from two-month low support of $54, teasing to continue its correction. If the sellers maintain this momentum, the coin price will soon drop 30% to the $36.8 mark.
Key technical points:
- The daily-RSI Slope approaches the oversold region.
- The LUNA price would soon retest the 200-day MA
- The intraday trading volume in LUNA/USD is $3.4 Billion, indicating a 37% gain.
Source- Tradingview
In our previous coverage of Terra technical analysis, the coin price was struggling to rise above $80. However, the intense sell-off all over the crypto market propelled the coin price below two crucial support of $65.5 and $54.
The LUNA price slides below the 0.5 Fibonacci retracement level with a huge bearish candle. A daily-candle closing below this support should confirm this fallout, indicating a further downfall.
The downsloping of 20 and 50 MA projects the bears are dominating. Moreover, the coin price steadily approaching the 200 MA from above threatens a bearish crossover.
The daily-Relative Strength index slope crashed to the 30% mark and could enter the oversold region.
LUNA Price Could Drop To The $35.6 Mark
Source-Tradingview
Source-The LUNA/USD pair is currently trading at $78.2, projecting a 10.8% intraday fall. The crypto traders can expect a retest to the new flipped resistance of $54. If the sellers could sustain the price below this level, the pair could plummet to the $35.6 mark in around two weeks.
The ADX(38) slope rising indicates the sellers are gaining momentum again.
The traditional pivot level displays remarkable confluence with the LUNA chart level indicating overhead resistance levels at $54 and $65.7. And the Support levels are $45 and $35.6.
- Zcash (ZEC) Skyrockets 20% as Arthur Hayes Shares Another Bold Price Target
- Toobit Launches Upgraded Launchpad With Exclusive Presale for GameFi Token Idle Tribe Era
- SharpLink Predicts a Swift 90% Rally in Ethereum Price to New ATH
- XRP Price Surges 7% as Ripple CEO Brad Garlinghouse Reveals 2026 Plans
- Polymarket Traders Slash Trump Tariff Odds by 29% After Justices Question Legality, Bitcoin Jumps
- Ethereum Price Eyes Recovery as Network Hits 24,192 TPS Milestone
- FUNToken Gains 2.38% as $5M Giveaway Drives 26% Volume Surge
- Pi Coin Price Targets 36% Upside Amid Open Mainnet, Smart-Contract Integration and DEX Development
- Chainlink Price Poised to hit $20 $20 as SBI Digital Markets Partners to Bridge TradFi and DeFi
- Solana Price Faces Heavy Sell Pressure as $1.36B Is Liquidated: $100 Incoming?
- XRP Price Prediction: Ripple Swell 2025, ETF Hints, RLUSD Plans, and Market Outlook
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
