Terra LUNA, Avalanche (AVAX) Crypto still the most bullish coins
Terra LUNA and Avalanche coin have been among the strongest in recent months Cryptocurrencies. The crypto market has been in a bearish period for the past two months, although the decline has come to an end. LUNA and AVAX coins weren’t too badly affected by the market retreat and have already resumed the upward trend in the past two weeks. Where are you going next?
Terra Daily Chart Analysis – LUNA Breaks $ 100 While TVL Hits $ 21 Billion
Terra LUNA is a very promising one Blockchain, especially in DeFiDivision (decentralized finance) as it has accumulated around $ 21 billion in Valuer Locked (TVL) and the amount is growing rapidly. The native LUNA token has seen tremendous growth among DeFi projects due to the strong demand for Terra’s ecosystem, though its Stablecoin Terra USD (UST) recorded higher demand.
As a result, LUNA / USD has risen despite the fact that the market has remained bearish for the past two months. We saw a drop to $ 50 earlier in the month, but it ended right at the 50 SMA (yellow) on the daily chart. The price bounced off that moving average and rose over $ 100 to $ 106, so those who bought this coin at the 50 SMA should be around 100% in profit by now. The price went down yesterday, but this could be a good opportunity to buy LUNA coin at the previous high around $ 80, which is also where the 20-day SMA (gray) is, so let’s track the price action to see if LUNA will go back down there.
Avalanche Daily chart analysis – AVAX heads for the highs after the jump
The support below $ 80 held for Avalanche
Avalanche has had an impressive rally since August, climbing from $ 10 to $ 146 in November. The crypto market was in a bearish trend last month, but AVAX coin continued to climb after it was announced that USD Coin (USDC) was being added to its network. BitGo added Avalanche support, which means that its customers like the Bitstamp and Bitbuy exchanges can now offer this crypto coin to their users.
AVAX / USD eased during the lows, but the retreat ended at the 100 daily SMA (green) which was just below $ 80. This zone was the high in September so this zone has become a support and now Avalanche is heading for the highs after rising in the past two weeks.
Source: Crypto News Deutsch