Terra LUNA is the biggest gainer among the altcoins as it is up by 10.59% in the last 24-hours. LUNA’s price has jumped by 12.04% in the past week and is presently trading at $104.91, as per data from CoinMarketCap.
The first two weeks of the month of March were highly volatile with ups and downs as the crypto market tried to stabilize amid geopolitical crisis and the US Federal Reserve hiking interest rates. It caught hold of the executive order signed by President Joe Biden and has been steadily rising since.
LUNA price continues to rally for the fourth consecutive day. The bullish momentum is looking strong. Analysts say the bulls started to show momentum on March 26, with LUNA breaking its previous high record in an “aggressive manner”. According to data charts and price analysis, bulls have been controlling the market in the past week. The price trend (green) trend line is moving upwards. Trading volume has also increased significantly by 180% today.
However, volatility remains high. There is strong support for LUNA price as the upper price band is at $102.1 below the price level – and the lower band is at $82.9. Moreover, the Relative Strength Index score is near the border of the overbought region at index 66. But there is still room for more bullish practice. LUNA price is showing signs of an upswing as it has improved during the day. Furthermore, the past few hours have seen the bullish momentum intensifying.