Terra LUNA coin and Cardano have been in opposite places in the last few months, with ADA coin pretty bearish since September, while LUNA coin has been extremely bullish since August. The crypto market has been in retreat mode for almost two months now, but Terra LUNA hasn’t bothered much as it keeps hitting higher highs. Sentiment in the broader market has improved this week, which is helping these two cryptos, so let’s see where they stand now.
Terra Daily Chart Analysis – LUNA is heading for $ 100, right back after the first failure
After consolidating in June and July, Terra LUNA turned bullish in August and has not stopped since. The highs in May of around USD 22 became a support in September and this crypto coin has not fallen below that level. In fact, it hits both higher lows and higher highs as buyers remain in full control. There have been the occasional pullback but the moving averages did a great job of supporting, holding the price and pushing LUNA / USD up.
Yesterday we saw this one Cryptocurrency for $ 100, but was rejected on the first attempt just below that level. Although it doesn’t wait too long and today LUNA coin has become bullish again. Terra is the second largest DeFi-Network and LUNA coin is used to keep stablecoins stable, which keeps demand going. It appears that this is the first time buyers are taking the price above this watermark level and opening the door for $ 200.
Cardano Daily Chart Analysis – ADA before first test at $ 100
Cardano has now moved above the 20 SMA
As already mentioned, ADA coin has been bearish since September and missed the bullish rally in the crypto market in October and early November. Cardano is a promising one BlockchainNetwork, but it hasn’t piqued much interest in its native token ADA in the past few months, which makes it seem like something is wrong with Cardano.
ADA/ USD fell from a high of $ 4.10 in early November to $ 1.20 this month despite its founder Charles Hokinson trying to breathe life into it. Although ADA coin is expected to recover after the introduction of dApps in the Cardano ecosystem. Hoskinson mentioned in his blog post this week that fundamental developments in the Cardano ecosystem are slow and steady. ADA / USD has reversed in the past two days, although it seems to have come from the improved sentiment in the crypto market. Anyway, ADA coin now comes before the previous one resistance at $ 1.50 so we’ll see if buyers can keep the pressure up and take the price above that level, which makes Cardano bullish.
ADA / USD
Source: Crypto News Deutsch