Analyst Predicts Terra Luna (LUNA) Could Surge Beyond 100 Dollars

Crypto News -Altcoin Sherpa, a cryptocurrency trader and analyst, made a bold prediction in a recent post, suggesting that Terra Luna (LUNA) could potentially rebound to surpass the $100 mark in the coming weeks. In the post, he expressed the view that it’s ‘time to make it all back in 1 trade,’ accompanied by a screenshot of the 3-day LUNA/USDT chart.

Analyst Predicts Terra Luna (LUNA) Could Surge Beyond 100 Dollars

Should this optimistic projection materialize, it would signify a remarkable increase of over 20,550% in the altcoin’s value from its current price, which was at $0.5171 at the time of the report. According to data from CoinMarketCap, LUNA had witnessed a substantial 19.97% price surge in just the past 24 hours.

Additionally, the 24-hour trading volume for LUNA Coin had experienced a significant surge, surging by more than 460% to reach approximately $316.4 million. Reviewing the daily LUNA/USDT chart, the cryptocurrency had managed to break above the $0.5340 resistance level earlier in the trading session on that day. However, it retraced below this critical price point by the time of the report.

If LUNA’s daily candle closes below this level, it could potentially face the risk of retracing to the immediate support level at $0.4510 in the subsequent 24-48 hours. Continued selling pressure might push LUNA’s price even lower, possibly testing the crucial support level at $0.3755.