Terra to Hit a High Value of $115 with Strong Bullish Sentiment, Price Analysis

It was on March 11 when the value of Terra (LUNA) plummeted. According to the cryptocurrency market data, the value of Terra fell below $94 per LUNA. The bulls made a lot of effort to keep the price of Terra over the $94 per LUNA figure.

However, they were unable to sustain the pressure from the bears as they kept pushing harder. They kept selling LUNA on a high scale, which the bulls were unable to handle. As a result, the value of Terra ended up taking a huge fall.

The bears made a huge attempt of pulling the price of Terra all the way down to $82 per LUNA, which is the 20-day EMA for LUNA. Despite increasing their selling power, the bears were not able to achieve that, which means that the bulls are not ready to give up that easily.

So far, the bulls have shown great acquisition power in favor of Terra, which has kept the bears from pushing harder. The bulls are currently buying Terra on every dip, which means that they are constantly buying it to keep Terra to a higher figure.

Current Orientation of Technical Indicators

The technical indicators are pointing towards the neutral trend, which means that the situation can lean on any side. The RSI for Terra is currently moving in the negative zone and it is currently at 48. This means that the bulls can work hard and go for higher acquisitions to push its price higher.

In the upcoming days, the bulls will need to try harder and push the price of Terra to a higher figure. This would result in pushing the RSI over the midline. The moving averages are also in the neutral zone, which is a positive sign for the bulls as they can go on to make efforts and push Terra’s value higher.

Bulls May Succeed Pushing Terra to $115

If the bulls keep going for higher gains and keep going on with their attempt, the value of Terra may jump over $94 per Terra. Once the value of Terra rises over the $94 per LUNA mark, they will gain enough confidence to push the price of Terra to higher levels.

The next level that the bulls may hit with high-level purchasing of LUNA would be $105 per LUNA. This would give the investors more confidence and they may side with the bulls to hit higher levels.