Skip to content



Terra Luna (LUNA) Coin Price Prediction for 2023: Is Terra Luna (LUNA) a Good Investment?

Terra Luna (LUNA) Coin Price Prediction
author Written by
Rex John Walsh
author Fact checked by
Sangram Mohanta

Last Updated on June 3, 2024 by TOP FOREX BROKERS REVIEW

Terra is a blockchain system that uses stable coins to power stable global payment systems.  According to the Terra whitepaper, it uses price stability and fiat currencies to offer a good settlement. The native token of Terra is LUNA that is used to stabilize the price protocol of stablecoins. LUNA holders have the right to vote on Terra government proposals to functionalize the governance token.

LUNA/USDT started trading in 2021 from $0.53 a token and reached a $75.56 all-time high in December. The biggest reason for such gain is its offering of borderless cryptocurrencies with fiats. Moreover, Terra initiated several partnerships with some payment methods. For example, the partnership with a South Korean mobile payment application, Chai, encourages LUNA users to drive into the e-commerce industry. In 2019, Terra collaborated with e-commerce industries in 10 countries with a 45 million user base and $25 billion in merchandise value.

Currently, there are 376,118,042.15 LUNA in supply from the maximum supply of 848,852,267. The trading volume of the last 24 hours was at $2,041,397,184, representing the Volume / Market Cap at 0.08434.

So, Is Terra Luna (LUNA) a good investment?

Let’s see the Terra Luna (LUNA) price prediction from Technical Analysis LUNA:

Terra (LUNA) Trend Is Bullish


Terra Luna (LUNA) price prediction


In the technical chart, the LUNA/USDT is trading within a long-term bullish trend where the current price is near the all-time high level. However, after forming a potential double top pattern from the all-time high area, the price moved lower below the dynamic 20 EMA but bears failed to hold the momentum below the 54.00 event level. Therefore, the price rebounded higher immediately with a bullish daily candle above the dynamic 20 EMA, which is the primary sign of a possible bullish pressure in the price.

In the above image, we can see that 38.24 to 44.00 was the area from where a massive buying pressure came that took the price to an all-time high level. Therefore, any bearish correction towards the 38.24 to 44.00 demand zone would be a decent buying opportunity in this pair. Moreover, the MACD Histogram is bullish but squeezes to the zero level, another sign of a possible buying pressure.

Based on the daily price context, bulls may see a new all-time high level as they manage to rebound the price from the static 54.00 support level. However, if the price is below the 54.00 level with a bearish daily candle, another buying opportunity is available at 47.00 to 38.00. However, a break below this zone would require a HODLing approach for further gain.

LUNA/USDT Ichimoku Cloud Analysis

LUNAUSDT Ichimoku Cloud Analysis


According to the Ichimoku Cloud, LUNA/USDT is trading within a corrective structure as the current price is within the Kumo Cloud while the future cloud is corrective. After reaching the all-time high level, the price moved below the Kumo Cloud but bears failed to hold the momentum. Later on, the price changed its direction but could not show any significant buying pressure above the Kumo Cloud. However, the current price is above the dynamic Tenkan Sen and Kijun Sen, indicating that short-term and medium-term traders are bullish.

The above image shows that the RSI line changed its direction to bullish after testing the oversold 30 level and currently residing above the 50 areas. Therefore, a bullish pressure in RSI towards the 70 level is pending, which is a sign of a possible bullish pressure in the price.

Based on the H4 context, the upcoming price direction is bullish as long as the price trades above the dynamic Kijun Sen and static 60.00 support level. In that case, the primary bullish target would be the 78.00 resistance level. On the other hand, a break below the 54.00 level would alter the current market structure and lower the price towards the 40.00 area.

LUNA/USDT Intraday Price Action Analysis

LUNAUSDT Intraday Price Action Analysis

In the intraday chart, LUNA/USDT changed its direction from bearish to bullish as the price moved above the 60.00 intraday event level with a bullish higher high formation. Moreover, the most recent price showed multiple bullish rejections from the dynamic 20 EMA but could not hold the bullish momentum above the most recent high volume level. Therefore, investors should wait for a clear breakout above the intraday high volume level before going long in this pair.

The above image shows how the MACD histogram moves to the zero level while the MACD line is above the Histogram. Therefore any positive Histogram with a bullish H1 candle above the 68.00 swing high would increase the buying pressure in the LUNA/USDT price. Moreover, the price is still above the weekly VWAP, which might keep the buying possibility valid from 68.00 to 60.00. On the other hand, a break below the 60.00 level would alter the current market structure, increasing the selling pressure towards the 54.00 area.

Is Terra Coin (LUNA) A Buy?

According to the Terra Coin (LUNA) price prediction, the overall market direction is bullish, where the 54.00 level is the key event level from where the bullish pressure may extend. In that case, the first buying point is above the 54.00 area with an appropriate bullish rejection. Moreover, a break below the 54.00 level would open another buying opportunity from 44.00 to 38.00 area. However, a break below the 38.00 level would alter the current market structure and lower the price towards the 30.00 area.

Read Next

Top Rated Premium Forex Signals Services

Top Rated Premium Forex Signals Services

forex brokers review

Top Rated Online Best Forex Brokers 2024

Leave a Comment

FP Markets Join Now
FBS Broker Offer
Scroll To Top