The 10% free-fall to the $50 support zone within the triangle showcases the rise in the underlying bearishness. Will the LUNA coin price breach $50? The LUNA coin price action forms a symmetrical triangle pattern with the recent reversal to surpass the resistance trendline, resulting in a lower high formation. However, the bullish candle forming near the $50 horizontal zone teases a bullish reversal within the triangle pattern. Will the Terra coin price give a bearish fallout? Key technical points: The coin price shows a free fall to the $50 mark. The stochastic RSI indicator shows a bearish crossover of the K and D lines. The 24-hour trading volume in the Terra token is $1.28 Billion, indicating a 30% rise. Past Performance of LUNA As Bitcoin falls below the $41K mark, most altcoins get the bearish influence resulting in an overnight downfall. The LUNA coin price fell 10.30% last night, resulting in a sudden reversal to the $50 support zone. Currently, the market price of the Terra token is $51.13, with a rise of 1.68% in the freshly forming daily candle in the support zone. Source-Tradingview LUNA Technical Analysis The LUNA coin price forms a symmetrical triangle pattern with the market price near the support trendline. Therefore, traders can expect a bullish reversal to the resistance trendline to continue resonating within the pattern. The crucial 200-day EMA provides support to the falling price and helps maintain the up...
