Terra's price has increased by 8% in the last 24 hours, reaching $0.5005 amid a 538% jump in trading volume.
Terra Finds Support at Key Levels
The LUNA/USDT pair on the daily chart is trading at $0.5005. The 50-day moving average is at $0.5096, while the 200-day moving average provides long-term support at $0.4070, offering favorable conditions for trend continuation. The Relative Strength Index (RSI) is at 55.04, indicating moderate bullish momentum.
Terra Bulls Eye Continued Momentum
In a bullish scenario, the price must sustain above $0.50 and break the resistance at $0.55. Once these levels are cleared, the price can reach $0.60. Conversely, in a bearish scenario, the price might fall below $0.48 and return to the support zone around $0.40.
Solaxy Presale Closes at $9 Million
While Terra's price is strengthening, investors are also interested in Solaxy, a new Solana-based token. This project has raised over $8.6 million in presale and promises to address Solana's network congestion with innovative layer-2 solutions.
The sharp rise in Terra's price and interest in new crypto projects like Solaxy confirm the ongoing investor appeal for innovations in the cryptocurrency field.
