Terra (LUNA) is the best performing cryptocurrency of the top hundred in the daily timeframe. The cryptocurrency has gone up by 11% in the past twenty-four hours while the weekly performance shows an increase of more than 40%. Terra coin has been on an upward trajectory since the end of June. At the time of writing, LUNA coin stands at a price level of $8.24. The price has been increasing in the daily timeframe; however, the trading volume has dropped by 30%.

Terra (LUNA) technical analysis

The market sentiment for Terra crypto has turned neutral. Out of the total twenty-six technical indicators, eleven are giving out a signal of buy with eight indications standing on a neutral position and only five at a sell position. The oscillators are bearish while the moving averages are bullish.

Terra coin had been operating on an ascending trend line. However, the cryptocurrency has entered a horizontal channel with oscillating price movements. The recent bullish momentum in the market is pushing the cryptocurrency to break out of the horizontal channel and get back on the ascending trend line. LUNA crypto has broken out of the upper boundary of the channel. The major resistance has been broken and if the cryptocurrency stabilizes above the region, the upward trendline will be activated once again.

Terra (LUNA) price prediction

Terra (LUNA) recently entered into a strategic partnership with Harmony (ONE) in order to up their game in the decentralize finance space. Ever since the partnership, both cryptocurrencies have been trending upwards. Terra is the twenty-ninth largest cryptocurrency in the market with good long-term potential. According to the estimates of Wallet Investor, Terra will be valued at a price of $16 in a year’s time while the 5-year forecast shows a price of $60. Digital Coin Price predicts a price of $36 by 2028.