Terra LUNA 2.0 Surges after Breaking Out Major Resistance Level, What’s Next?

/ Explore the cryptocurrency surge as Terra’s LUNA 2.0 breaks key resistance, soaring 46% in 24 hours. What’s next for $LUNA?

By Nilesh Hembade.

Date: 11 Nov 2023, 10:45 AM IST

Terra (LUNA), the widely acclaimed public blockchain protocol, is making waves in the cryptocurrency market with its native token $LUNA experiencing an impressive surge of +46.0% within the last 24 hours. This surge follows a breakthrough moment as the token successfully breached major resistance levels.

As of the latest update, the LUNA token is actively trading at $0.7385, boasting a substantial market cap of $424 million.

Chart Analysis:

A comprehensive analysis of the LUNA chart reveals that today’s surge can be attributed to the successful breakout from significant resistance levels. Notably, LUNA has overcome two pivotal resistance barriers situated at $0.55 and $0.69, respectively.

Looking Ahead:

The question on everyone’s mind is, what’s next for Terra’s LUNA token? If the current bullish momentum persists, market analysts anticipate the next target to be the subsequent resistance level at $0.95. This level now stands as the focal point for traders and enthusiasts alike, as they eagerly await to witness if LUNA can maintain its upward trajectory and establish a new level of support at this critical juncture.

Investors are advised to stay vigilant and closely monitor the market dynamics, as cryptocurrency markets are known for their volatility.