Terra Classic

Momentum

Terra

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/terra-luna-gains-momentum-with-significant-market-upturn" rel="noopener noreferrer nofollow">Terra LUNA Gains Momentum with Significant Market Upturn</a><br></p>
<p style="text-align: justify">Terra’s native <a href="https://en.bitcoinhaber.net/dwf-labs-initiates-cutting-edge-blockchain-trading-platform-for-cryptocurrency-accessibility" rel="noopener noreferrer nofollow">cryptocurrency</a>, LUNA, has witnessed a notable resurgence in the digital currency market, with its value experiencing a 13% uplift within a single day. The cryptocurrency’s trading price has reached $1.28, and its market capitalization has surpassed $889 million, positioning LUNA as the 110th largest crypto by market cap. This sudden escalation has caught the attention of investors, propelling the token to trend on a major platform.</p>
<h2 id="surge-in-trading-activity-and-market-interest">Surge in Trading Activity and Market Interest</h2>
<p style="text-align: justify">The spike in LUNA’s trading price has sparked discussions and piqued interest among the cryptocurrency community, resulting in a heightened social volume for the token. Nevertheless, a drop in weighted sentiment could be signaling a potential bearish mood among market participants. Despite this sentiment, data from Santiment, a cryptocurrency analytics firm, show an uptick in LUNA’s development activity over the past week, suggesting increased efforts by developers to enhance the blockchain’s capabilities.</p>
<p style="text-align: justify">Moreover, the derivatives market for LUNA has demonstrated robust demand, as evidenced by a significant funding rate. The rising open interest, in conjunction with the price hike, points towards a sustained upward price movement for the token.</p>
<h2 id="technical-analysis-and-sister-token-performance">Technical Analysis and Sister Token Performance</h2>
<p style="text-align: justify">Technical indicators on Terra’s daily chart, such as the Moving Average Convergence Divergence (MACD), reveal a bullish dominance in the marketplace, hinting at the possibility of a prolonged upward trend. However, a decline in the Relative Strength Index (RSI) could potentially hinder the continued ascent of LUNA’s value.</p>
<p style="text-align: justify">In tandem with LUNA’s gains, its associated token Terra Classic (LUNC) has also risen, marking an 8% increase within 24 hours. Currently trading at $0.0001654, LUNC’s market capitalization is hovering around $964 million. Unlike LUNA, LUNC’s RSI has surged, suggesting a positive outlook for investor gains in the near term.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/terra-luna-gains-momentum-with-significant-market-upturn" rel="noopener noreferrer nofollow">Terra LUNA Gains Momentum with Significant Market Upturn</a></h5>

Terra LUNA Gains Momentum with Significant Market Upturn

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