Terra Crashes, LUNA Drops 63% to Retest September 2021 Lows of $23

Terra is down 63 percent in the last trading week at spot rates. Although LUNA is firm, the upside is capped and resistance at $45. Past Performance of Terra Terra has been decimated at spot rates, reading from the performance in the daily chart. The LUNA coin is down 43 percent in the last trading day alone and a massive 63 percent in the past trading week versus the USDT. Changing hands at $30, the LUNA token is at a new 2022 low and back to October 2021 territory. Terra Technical Analysis Terra is under immense liquidation pressure and LUNA coin is free-falling when writing. Although buyers are holding steady, soaking in sellers, the path of least resistance is defined. The immediate resistance is at $45, flashing with Q1 2022 lows. Therefore, every attempt to retest January 2022 lows could be an offer for sellers to unload while targeting this week’s lows of $23, which coincides with September 2021 lows. Any surge above $45 may embolden buyers, a base for further recovery following sharp losses on May 9. What to Expect from LUNA? LUNA crypto is deep in red at spot rates, and this could be the expected status in the immediate term. A bounce towards $45 will remain a ‘dead cat’ bounce as viewed by analysts unless the breakout is with high trading volumes.The post Terra Crashes, LUNA Drops 63% to Retest September 2021 Lows of $23 appeared first on Cryptoknowmics-Crypto News and Media Platform.