LUNA price has seen a strong uptrend which has pushed it from $5 to almost $17, which is an impressive 3x returns in less than two weeks. Now, Terra price could correct to a crucial support barrier at 78.6% Fibonacci retracement level at $14.22 before going on another leg-up.
Bollinger Bands indicator shows an interesting relationship with LUNA’s corrective phases. Since February 28, almost every corrective wave has seen a prompt pullback to the Bollinger Bands’ middle line. If something similar were to happen, then Terra could drop to $14.22, a level that coincides with the 78.6% Fibonacci retracement extension, further adding credence to this thesis.
Bollinger Bands indicator shows an interesting relationship with LUNA’s corrective phases. Since February 28, almost every corrective wave has seen a prompt pullback to the Bollinger Bands’ middle line. If something similar were to happen, then Terra could drop to $14.22, a level that coincides with the 78.6% Fibonacci retracement extension, further adding credence to this thesis.