LUNA/USD are trading at 55.88 and continue to move within the correction and the downward channel. The moving averages indicate a short-term bearish trend for Terra. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop an increase in the value of the digital asset and a test of the resistance level near the area of 59.55. Where can we expect a rebound down again and a continuation of the fall of the Terra rate with a potential target below the level of 30.05.
Terra Forecast LUNA/USD February 18, 2022
In favor of the decline in 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 upper border of the descending channel. 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 70.05. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 75.05. With the breakdown of the support area and the closing of quotes below the level of 52.55, we should expect confirmation of the development of the downward momentum of the trend for Terra.
Terra Forecast LUNA/USD February 18, 2022 suggests an attempt to correct and test the resistance area near the level of 59.55. Where should we expect a rebound down and the continuation of the fall of LUNA/USD to the area below the level of 30.05. An additional signal in favor of Terra’s decline 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 70.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 75.05.
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