Terra Luna Price Prediction: How Terra Continues to Struggle

Summary:
• Terra Luna has has struggled in the markets dropping by over 80 per cent from its initial price of $18 to the current price of $2.2

Since the launch of Terra Luna 2.0 on May 28, it has struggled in the markets, dropping by over 80 per cent from its initial price of $18 to the current price of $2.2. However, it is not uncommon to find bullish trading opportunities despite it struggling to launch a comeback.

Terra Luna’s Price Prediction

Today’s Luna price prediction will focus on the price action of the last ten days. On June 30th, Terra Luna’s price dropped by 18 per cent, from trading at $2.622 to the closing price of $2.12. The drop came after days of aggressive bullish trading that had seen Luna’s price rise by over 50 per cent in less than a week.

However, after 18 per cent, the prices started trading sideways. Since then, the prices have failed to recover to their previous level before the 18 per cent drop. Despite some trading sessions showing signs that prices may recover and move upwards, the general trend has been sideways. Since hitting the $2.622 price level 10 days ago, the prices have also not returned to the price level.

Therefore, my Terra Luna price prediction expects the current sideways market to continue. In an analysis I did on June 29, I indicated that the final price level I expected the crypto to reach was below a dollar. Since then, the prices have not had an established trend. After looking at the daily chart below, my current view remains the same. Therefore, the prices will drop and trade to a dollar. However, due to the current sideways market that has resulted in prices not moving up or down, my $1 price prediction will come after the current sideways market has ended. 

My analysis will only be invalidated if the prices move past the $2.7 resistance level. At that point, the trend will be bullish.

Terra Luna Daily Chart