Terra LUNA and Avalanche Coins have been two of the most optimistic over the past few months Cryptocurrencies. They made profits even during the bearish phases in the crypto market and continue to show buying pressure. They went back earlier this week but we predicted they would reverse on the moving averages and we are today so this looks like a good opportunity to buy LUNA and AVAX.
Terra Daily Chart Analysis – LUNA reverses on support
Terra LUNA coin has been showing really strong buying pressure since August when the uptrend started at around USD 5 and rose to USD 106 on Monday this week. Buyers keep reaching new highs despite the retreat in the crypto market, so the sentiment for this digital currency remains quite optimistic and pullbacks should be seen as good opportunities to buy LUNA coins.
The last pullback this week for LUNA / USD seems to have ended. The price made two doji candlesticks above this month’s high which is $ 80 which is also where the 20-day SMA (gray) is and today the price is rising so this appears like a bullish reversal chart pattern. the DeFi– Space in Terra’s ecosystem is growing, with a Total Value Locked (TVL) of $ 21 billion so far. In addition, Terras Stablecoin Tax with a Market capitalization grew from $ 10 billion to the largest decentralized stablecoin. The pressure will stay up for this crypto, so this opportunity should not be missed.
Avalanche Daily Chart Analysis – AVAX Reversing at 50 SMA
Stochastics indicates that Avalanche is oversold on the daily chart.
Avalanche has also seen great demand in the past few months. Avalanche announced that it would add USD Coin (USDC) to its network earlier, which should give it some advantages in the area of decentralized finance (DeFi). Mastercard has selected five new companies to participate in its “Start Path Crypto” program and Avalanche is one of them. That should bring Avalanche closer to mainstream finance, which the AVAX token should support.
After the big rise in AVAX / USSD, we experienced a deep pullback in November which ended at the September high of USD 80. We figured the second pullback this week would end at 50 SMA (yellow) around $ 100, and that’s exactly what is happening now. Yesterday the price formed a small doji which is a bullish reversal signal after falling, and today we are seeing a reversal on the upside. So this could be a good time to buy Avalanche, too.
Source: Crypto News Deutsch