Terra Price Analysis: LUNA spikes to $34, setting a higher low

TL;DR Breakdown Terra’s price analysis is bullish for today.LUNA/USD saw another spike lower overnight.After a quick test of $24, LUNA started to recover this morning. For today, the Terra price analysis is bullish, as the overnight sell-off has resulted in a strong rejection from $24 support. As a result, we anticipate LUNA/USD to continue higher later today and recover more of the loss it incurred this week. Cryptocurrency heat map. Source: Coin360 Over the last 24 hours, the cryptocurrency market has been in good shape. Bitcoin is up 3.5%, while Ethereum is up 6.73%. Dogecoin, on the other hand, has had a spectacular day, increasing by 11% and outperforming all other cryptocurrencies. Terra price movement in the last 24 hours: Terra spikes to $34 The LUN/USD pair was trading in a range of $32 – $34.56 throughout the previous 24 hours, suggesting moderate price swings over the last day. Trading volume has dropped by 23.83 percent and is now at $1.405 billion, while the overall market cap is about $11 billion and places it in 14 LUNA/USD 4-hour chart: LUNA ready to reverse? The Terra price is correcting lower on the hourly chart, which might signal further gains later today. LUNA/USD 4-hour chart. Source: TradingView The price of Terra has been trading in a powerful bearish trend over the past seven days. After reaching the $45 mark early this month, a fresh major swing high was established. Bulls, on the other hand, ...