Hope

Strong

Show

Terra

<p>Terra’s LUNA token has been among the hardest-hit cryptos especially because of its crash. LUNA’s price collapsed by over 99% as its ecosystem suffered a devastating liquidity crunch. However, according to crypto analyst CryptoAnalystSignal, LUNA may be positioning for a bullish turnaround.</p>
<p>In a recent tweet, the <a href="https://twitter.com/ChartMonkeyBTC/status/1745592385982107771?t=cl7UBVF4rxbHOKXuyYdIsQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">crypto analyst chart monkey</a> pointed to signs of strengthening support for LUNA around the $0.72 level. He believes the token’s multi-month selloff could be approaching exhaustion.</p>
<p>LUNA has plunged over 50% in the past year amidst the crisis of confidence in Terra. Recently, it dipped below $0.75 before stabilizing around that price. Over the past 24 hours, LUNA has surged 2% off its lows to currently trade around $0.75.</p>
<p><strong>Falling Channel Signals Potential Trend Change</strong></p>
<p>Importantly, CryptoAnalystSignal highlights positive divergence on the 4-hour chart, with LUNA appearing to move within an established falling channel after breaking down from its long-term uptrend.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="661" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-1024x661.png" alt="" class="wp-image-419216" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-1024x661.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-300x194.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-767x495.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-1536x992.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-2048x1322.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-232x150.png 232w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-542x350.png 542w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339-788x508.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-339.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>“Consider buying on the current pullback as the price of @terra_money LUNA is moving in a falling channel on 4H frame with strong support,” the analyst tweeted. This falling channel pattern suggests the brutal selloff could be losing momentum, setting the stage for a relief rally.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>If support around $0.75 continues to hold up despite bearish sentiment in crypto markets, the analyst says LUNA’s price could be poised to revisit key upside levels. Specifically, he is watching three potential price targets at $0.81, $0.89, and $0.98.</p>
<p>After declines exceeding 50% year-to-date, LUNA remains in a firm downtrend on most timeframes. However, speculators appear to be positioning for a trend change given emerging signs of relative strength. The analyst’s targets represent potential areas where LUNA could encounter significant supply if the current falling channel pattern breaks to the upside.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/bitcoin-fails-to-rally-on-etf-news-due-to-4-key-factors-how-to-capitalize-on-aprils-btc-halving-with-this-token/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Fails To Rally On ETF News Due To 4 Key Factors; How To Capitalize On April’s BTC Halving With This Token</a></li>
 <li><a href="https://captainaltcoin.com/22727-kaspa-kas-will-make-you-rich-analyst/" target="_blank" rel="noopener noreferrer nofollow">22,727 Kaspa (KAS) Will Make You Rich: Analyst</a></li>
 <li><a href="https://captainaltcoin.com/ethereum-eth-steals-bitcoins-thunder-on-sec-etf-approval-by-surging-10-is-3000-coming-this-week-while-btcmtx-continues-rising/" target="_blank" rel="noopener noreferrer nofollow">Ethereum ($ETH) Steals Bitcoin’s Thunder On SEC ETF Approval By Surging 10% – Is $3,000 Coming This Week While $BTCMTX Continues Rising?</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/analyst-sights-hope-in-terra-luna-as-strong-support-flashes-recovery-these-are-his-price-targets/" rel="noopener noreferrer nofollow">Analyst Sights Hope In Terra Luna as Strong Support Flashes Recovery, These Are His Price Targets</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analyst Sights Hope In Terra Luna as Strong Support Flashes Recovery, These Are His Price Targets

Table of Contents

CaptainAltcoin

Other articles published on Jan 12, 2024

Why Pushd (PUSHD) is gaining investors from Dogecoin (DOGE) and Shiba Inu (SHIB)

How Much Bitcoin Does BlackRock's Spot ETF Hold?

Elizabeth Warren criticizes SEC’s decision on Spot Bitcoin ETFs

Bitcoin ETF New Era – 5 Best Cryptocurrencies To Hold In A Traditional Investment Portfolio

ETC and BCH Showcase Resilience Amid Crypto Market Volatility

BNY Mellon Achieves Impressive EPS of $1.28 in Latest Quarter

Join our free newsletter for daily crypto updates!