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Terra (LUNA) & Solana (SOL) Posts could hit $120 very soon! Will this be a false breakout or a Bull Run revival? appeared first on Coinpedia – Fintech & Cryptocurreny News Media | Cryptocurrency Guide
Terra Price Analysis (LUNA)
Terra’s price recently showed strength beyond the ATH level just before the plunge. Despite the current descending trend, LUNA price looks confident it will stay high. And thus, invalidating the current downtrend, the asset is expected to make a solid recovery to resume the uptrend to reach its target around $120.
- LUNA price, after hitting a strong bottom below $50, triggered a jump towards the 3-digit price zone immediately
- However, the asset maintains a significant parallel ascending channel that includes a continuous test of support and resistance levels
- The asset while on its way to breaking through the resistance and hitting the $120 level experienced a massive plunge below $110 and found strong momentum to flip sharply.
- LUNA price is currently trying to recover from the mid or mid range and will soon break through key levels around the $110 level.
- Continuing the uptrend, the price is expected to reach $120 with the channel.
Solana Price Analysis (SOL)
Solana’s price after a strong fight at the resistance area between $134 and $137 fell miserably to close to $110. However, the price seems to have started a solid uptrend but is still holding off some momentum as the asset struggles to break above the overhead resistance. Once the resistance and retest area is cleared, SOL price can be confident of the upcoming rally.
- SOL price after oscillating within a very large falling wedge is trying to recover with certainty but is not doing so now
- The next few hours are important as the price seems to have been waiting for a significant upside move to lead the uptrend
- However, the asset looks quite bullish as the selling volume over the past few hours has eased, which could point towards a strong bounce ahead.
- Hence, with a decent gain, it could be quite easy for the asset to hit $120 but it may not stop here as the safe levels are above $136
- In a prolonged uptrend, if SOL price hits its target at $150, it can continue with a strong uptrend or rally to $200 as early as possible.
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