Terra

The post <a href="https://coinpedia.org/uncategorized/luna-price-latches-to-1-pullback-warns-20-drop-this-week/" rel="noopener noreferrer nofollow">LUNA Price Latches To $1, Pullback Warns 20% Drop This Week!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the overall market entering the week with a gloomy pullback, the LUNA price trend quickly reverses following the weekend recovery. A higher price rejection fueled by the FUD-driven correction in the market led to a 6.20% fall in Terra this Monday.&nbsp;
As the pullback offers a chance to buy the dip, the infamous coin may struggle to win back confidence if it falls under $1.&nbsp;Nevertheless, the <a href="https://coinpedia.org/price-prediction/terra-luna-price-prediction/" rel="noopener noreferrer nofollow">LUNA Price Prediction</a> supports the optimistic viewpoint and teases a stronger comeback from buyers.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="484" src="https://image.coinpedia.org/wp-content/uploads/2023/12/11131239/LUNAUSD_2023-12-11_12-18-18-1024x484.png" alt="" class="wp-image-252600" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/11131239/LUNAUSD_2023-12-11_12-18-18-1024x484.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/11131239/LUNAUSD_2023-12-11_12-18-18-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/11131239/LUNAUSD_2023-12-11_12-18-18-768x363.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/11131239/LUNAUSD_2023-12-11_12-18-18-1536x727.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/12/11131239/LUNAUSD_2023-12-11_12-18-18-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/11131239/LUNAUSD_2023-12-11_12-18-18.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source – <a href="https://www.tradingview.com/x/ccrEMvVY/" rel="noopener noreferrer nofollow">Tradingview</a>
Igniting a week before the Uptober season, the bullish trend in LUNA price accounts for a 216% jump between 24th September and 4th December. However, the buyers failed to cross the $1.25 barrier, resulting in the current correction.&nbsp;
Retesting the psychological mark of $1, the sellers are testing the bullish dominance at the psychological level. The $1 mark aligns with the 38.20% Fibonacci trend retracement level, providing a solid base for buyers.&nbsp;
Currently, the intraday loss puts the LUNA trading price at $1.03 and forms a long-tail candle teasing a bullish comeback.&nbsp;
Technical Indicators:
MACD Indicator: The MACD and signal lines tease a negative crossover with the bullish histograms on a declining roll. Therefore, the momentum indicator shows a reversal in trend momentum.&nbsp;
<h2 class="wp-block-heading" id="h-will-luna-price-sustain-above-1">Will LUNA Price Sustain Above $1?</h2>
The possibility of a LUNA price sustaining above the $1 mark is declining as the selling pressure grows. Moreover, the market sentiments showcase a rise in FUD, which may result in a more profound correction for Terra.
As per the analysis of previous price spikes, Terra has bounced back from 78.60% and 61.80% Fibonacci levels in the last two pullbacks. Therefore, considering the bulls sustain the 50% level this time, the $1 mark will still be lost.&nbsp;
Therefore, the sellers can retest the $0.91 or $0.82 mark if the buyers lose dominance at $1. Conversely, sustenance above $1 can fuel the uptrend to $1.50.

LUNA Price Latches To $1, Pullback Warns 20% Drop This Week!

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