The price of Terra Luna multiplies today as it skyrockets through key resistance levels approaching the $8 price mark. Currently, Terra Luna is trading at $5.85 and is displaying extreme volatility.
With a parabolic rally as strong as this you could begin to speculate whether Terra Luna will break through the day one all time high from the 31st of May (launch day).
Will Terra Luna continue to pump?
Terra Luna Crypto Price Prediction
Whilst Luna Classic (LUNC) had been earning its fame this week it becomes easy to forget that Terra Luna still exists. From the many weeks of silence trading in a macro-descending channel, Terra Luna finally breaks through a critical resistance level of $2.39, soaring all the way up to $7.80.
Since the top, Terra Luna has corrected 33.57% back down to $5.17 and already pumped back up to $5.80 and beyond. If Luna Classic can consolidate above the key support level of $5.17 there is possibility that it might make headway towards $7.80.
Breaking through the $7.80 resistance level means Terra Luna could potentially maintain positive price momentum up to the all time high of May, being $11.86. This is exactly what Luna Classic (LUNC) has already done.
Terra Luna is still up a whopping 225% and is showing no signs of weakness from the Terra Luna bulls.
Luna/Usdt – Daily Time Frame.
The pump of today almost looks anomalous since Terra Luna had been comfortably trading within a descending channel pattern. Terra Luna had been trading sideways for a total of 94 days before seeing this massive pump to the upside.
$5.17 now acts as a key level of support and $7.80 a key level of resistance. We can see that we’re very overbought on the daily relative strength index (reading 89.29) but it still doesn’t seem to have any detrimental effects on the price.
Moving into the 4-hour time frame, Terra Luna still continues to print green candles and shows no signs of weaknesses as the bulls form consolidation around the $6 price level.
Luna/Usdt – 15 Minute Time Frame.
Zooming into the 15 minute time frame for Terra Luna we can see $7.80 displayed a great deal of selling pressure which is reflected by the long wick on top of the large green candle.
Terra Luna has now bounced off of the 20-day moving average on the 15 minute time frame which can also reflect the inception of a new uptrend.
Using the Fibonacci extension tool, we can begin to understand that upon a succesful breakout a pragmatic technical target would bring Terra Luna up to around $9.41 (1.618 Fibonacci level).
Terra Luna Crypto Video Analysis
Parabolic pumps like this usually come with a great deal of volatility which makes it hard to forecast where the price is headed. Sometimes even bearish patterns and indicators get invalided because the greed and euphoria surrounding the movement is simply too significant.
Coinmarketcap states that Terra Luna has a market capital of $764 million and is now rank #68 amongst other cryptocurrencies. The volume is up by 1,476% over the last 24-hours which is also tremendous. If the bulls can maintain the positive price momentum there might be a chance that the market capital could exceed $1 billion over the next few days or weeks.
Luna Classic (LUNC) Drops by
As Terra Luna enjoys an afternoon of limelight, Luna Classic (LUNC) has seen the complete opposite occur and is currently dumping as I write this article. Could Luna Classic (LUNC) simply be dumping because money is being moved around from Terra Luna?
It was only yesterday that Terra Luna Classic (LUNC) achieved its own euphoric top of $0.00059, and and whilst retracing down to $0.00036 isn’t too bad compared to the lows of June ($0.000043), it does show that bulls are losing morale.
A great amount of fear and anxiety now instills amongst the LUNC community and holders as they spectate the price of LUNC enter a short downtrend.
On the 7th of September Luna Classic (LUNC) was trading at $0.00033 so LUNC is still up by 30% even with the recent dump.
Luna Classic must now respect the $0.00038 and $0.00033 support levels in order to avoid serious negative price continuation to the downside. This is now the third major correction for LUNC coming in at 38%. The other two corrections for LUNC occurred on the 1st of September at 27.9% and the 6th of September at 26.31%.
This is currently the greatest correction of the three, but usually during parabolic rallies it is quite normal to see 25-35% corrective phases.
Lunc/Usdt – 2 Hour Time Frame.
The swing low to $0.00036 earlier today suggests that there is significant amount of buying pressure around the lower levels, many traders would have used this as a dollar cost averaging opportunity.
If Luna Classic (LUNC) can gather enough momentum and the bulls are able to take control again we could see a bullish reversal offering up to 35%. This would take the price back to $0.000593 but seems questionable as we have to face $0.000448 and $0.000489 as resistances.
Luna Classic (LUNC) Crypto Video Analysis
Terra Luna Classic (LUNC) is having a healthy correction following a euphoric pump. As bearish divergences formed on the relative strength index (all time frames) we became very over extended. It doesn’t mean that we cannot see a relief bounce, LUNC is still in an uptrend.
According to Coinmarketcap Luna Classic (LUNC) still holds rank #29 versus other cryptocurrencies, the trading volume is down 23.68% as the interest from the crypto markets flips over to Terra Luna. Not quite the synergetic relationship like Batman and Robin, infact, very much the opposite.
Can Tamadoge Surpass Terra Luna and Luna Classic (LUNC)?
In terms of performance from the absolute bottom, Luna Classic has risen by 1,338% and Terra Luna has increased by 428% since their lows during the last quarter.
These are substantially high gains, but some cryptocurrencies can still perform better, especially those that have successful ICO’s. For example, when Stepn was in presale earlier this year they raised $9,200,000 and from the presale price investors would still be up by 70x today, or 7,000%.
There is another hot crypto currently in presale at the moment known as Tamadoge, holders of TAMA anticipate a large pump to the upside once it gets deployed on the Uniswap DEX followed by the Lbank CEX. Why do I speculate good things for Tamadoge?
Tamadoge is a unique deflationary meme coin which has elements of play-to-earn and the metaverse. Unlike almost every other meme coin Tamadoge is also completely tax free on every single transaction and has a maximum supply of just 2 billion which makes reaching $1 possible.
In just 5 weeks Tamadoge has already raised an incredible $13,570,087 which is very close to Ethereum’s presale in August 2014 which raised $16,000,000. Both Ethereum and Stepn achieved fantastic network growth and valuation following their successful presales.
This particular historical data leads me to wonder whether Tamadoge could also achieve a 10-100x following public launch which is forecasted to be in October 2022.
The presale for Tamadoge is rapidly selling out and only 20% of Tokens remain until the hard cap goal of $19,000,000 is met.
Tapping into the metaverse sector, Tamadoge will also offer augmented reality integrations allowing players to explore the captivating and immersive Tamaverse. In addition to this, players are able to raise and nurture their own Doge NFTs which they can use to battle other players and climb the TAMA leaderboards.
Tamadoge is developed with security in the forefront of their minds as they are fully audited by Solid Proof and have been fully verified by Coinsniper which ensures that a rug pull cannot take place. This gives further confidence to the already high morale of the Tamadoge community.
Parties interested in participating in the Tamadoge presale can head over to buy.tamadoge.io and connect their MetaMask or TrustWallet to the official website. Once this is done, you can convert either Ethereum, USDT or Fiat currencies into TAMA. Participants will be eligible to claim their TAMA tokens once the presale has finished.
To learn more about the Tamadoge white paper and ecosystem, click here.
- How to Buy Tamadoge – Beginner’s Guide
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Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on OKX, Bitmart, LBank, MEXC, Uniswap
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