• Terra Price has joined other altcoins in posting significant gains in the first week of 2023.
• LUNA is up 4.2% over the last 24 hours and exchanging hands at $1.33 at the time of writing.
• A falling wedge pattern indicates that Terra is on the way to accomplishing a 222% breakout to $4.15.

In the first week of 2023, Terra Price has joined other altcoins like Solana, Litecoin, and Terra Luna Classic in posting notable gains. At the time of writing, LUNA is exchanging hands at $1.33, up 4.2% over the last 24 hours. Following renewed interest among investors, trading volume jumped 54% to $35 million.

Analysts believe that Terra Luna is at the beginning of an uptrend, likely to explode 222% to tag $4.15. The Relative Strength Index (RSI) position in the neutral zone affirms that buyers now have the upper hand. The uptrend in LUNA might stay intact if the RSI continues with the steep climb to the overbought region.

A falling wedge pattern, as illustrated on the daily timeframe chart, reveals that Terra is on the way to achieving a 222% breakout to $4.15. This is a bullish chart pattern that signals the end of a consolidation phase in the wake of an extended downtrend. It signifies the effort buyers are putting into the market to build interest ahead of a northbound pump. Traders generally look for a break above the upper trendline – one that must be confirmed by a spike in trading volume.

In light of this, the market sentiment is positive and the price of LUNA is expected to continue its upward trend. Investors should keep an eye on the $1.40 resistance level, as a breakout from this level could drive the price to $2.00. Furthermore, a break above $2.00 could push the price of LUNA to $4.15, representing a potential 222% increase.

Overall, Terra Luna is an excellent opportunity for investors who are looking for long-term growth. With the right strategy and risk management, traders can capitalize on the current market movements. With a potential 222% upside, the current price of LUNA could be a great entry point for investors looking to capitalize on the uptrend.

Von admin