News

Terra Price Analysis: LUNA Coin Flourished Despite The Bloodbath Of December 4th

Published by
Terra Price Analysis: LUNA Coin Flourished Despite The Bloodbath Of December 4th

On December 4th, the crypto market experienced a sudden and intense selling pressure that took a significant toll on even the major cryptocurrency out there. However, by the end of the day, one of the few coins that not only survived but thrived in those situations was the LUNA coin. The day the coin gained 20% in its intraday trading and secured its position in the top 10 cryptocurrencies concerning their market cap.

Key technical points:

  • The LUNA showed a V-shaped price recovery in the 4-hour time frame chart
  • The intraday trading volume in the LUNA coin is $5.3 Billion, indicating a 40.5% gain.

Source- LUNA/USD chart by Tradingview

As mentioned in my previous article LUNA/USD, on November 30th, the coin price provided an excellent long opportunity for crypto traders when it breached the previous All-Time High resistance of $54.5. The price continued to explore the higher levels of the chart until December 4th, when the crypto market experienced a bloodbath.

According to these pivot levels, the nearest resistance for this coin would be at $70, followed by $90. As on the counter side, the support levels are $67 and later $53.

As per the crucial EMA level(20, 50, 100, and 200), the coin price maintains a strong bullish trend. Moreover, the Relative Strength Index(72) steadily grows towards the overbought zone.

LUNA/USD 4-hour Time Frame Chart

Source- LUNA/USD chart by Tradingview

Yesterday, the LUNA price retraced back to retest the new support of $54.5; the coin chart indicated strong demand pressure from this level, which resulted in quick V-shaped recovery in the price. As for now, the coin has marked $78.4 for the New All-Time-High in this chart.

The MACD indicator shows a bullish crossover of the MACD and signals line above the neutral zone(0.00), projecting a buy signal.

 

Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple

Senate Democrats and Republican lawmakers have ended separate roundtable meetings focused on the Crypto Market…

October 23, 2025
  • News

How the Crypto Market Could React to the Next Fed Meeting on October 29?

The crypto market has, for a while now, been pricing a potential 25 basis points…

October 23, 2025
  • News

$1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP

Rowe Price has filed for its first actively managed crypto exchange-traded fund (ETF). It is…

October 22, 2025
  • News

Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions

Standard Chartered analyst Geoff Kendrick has predicted that the Bitcoin price could suffer a significant…

October 22, 2025
  • News

Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7

Crypto ownership is a topic that has been discussed across major forums globally in the…

October 22, 2025
  • News

Robinhood Lists Binance Coin as BNB Outperforms BTC, ETH, SOL YTD By Over 30%

Crypto exchange Robinhood has listed the Binance coin for spot trading for its U.S. customers.…

October 22, 2025