LUNA/USD quotes are traded at 49.18 and continue to move as part of the growth and the formation of the “Head and Shoulders” reversal pattern. Moving averages indicate a short-term bearish trend in Terra. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop the growth in the value of a digital asset and a test of the resistance level near the 50.55 area. Where can we expect a rebound down again and the continuation of the fall in the Terra rate with a potential target below the level of 28.05.
Terra Forecast LUNA/USD November 30, 2021
In favor of reducing the LUNA/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the resistance area on the price chart. Cancellation of the option to reduce the coin will be a strong increase in the value of the asset and a breakdown of the area of 56.75. This will indicate a breakdown of the resistance area and continued growth in the cryptocurrency rate with a potential target above the level of 59.95. With the breakdown of the support area and closing of quotations below the level of 35.05, we should expect confirmation of the development of the downward impulse of the trend in Terra and the beginning of the “Head and Shoulders” pattern.
Terra Forecast LUNA/USD November 30, 2021 implies an attempt to correct and test the resistance area near the 50.55 level. Where can we expect a rebound down and the continuation of the fall in LUNA/USD to the area below the level of 28.05. An additional signal in favor of reducing Terra will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 56.75 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 59.95.
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