Buyers keep pushing Terra LUNA toward $100

Terra LUNA Makes New Highs Above $85, Shiba Inu Coin Showing Buying Pressure at $0.000030

Posted Tuesday, December 21, 2021 by
Skerdian Meta • 2 min read

Buyers keep pushing Terra LUNA toward $100

Terra LUNA and Shiba Inu coins have been behaving differently in recent months. The price action in Shiba Inu used to be very boring for several months until it decided to turn bullish in October. Although, in the last two months the price action in Shiba coin has been boring again as it slips a little bit lower every day. Terra LUNA on the other hand has been really bullish since August and it has made a new record high this week as it heads for $85, so let’s see where these two cryptos might be headed next.

Terra Daily Chart Analysis – LUNA Coin Not Looking Back

Terra LUNA coin has been the most bullish cryptocurrency in the last two months, as it keeps making higher highs. Moving averages have been keeping it well supported, pushing the price higher as it makes higher highs. Today LUNA/USD moved above $85, after being bullish for the last two weeks, following the pullback early this month.

Terra’s community passed the proposal to burn $4.5 billion of LUNA coins early in November when the price was trading around $50, now that amount should be almost double. This means deflation for this crypto coin with burning having started this month, which is helping keep the price bullish. The cross-chain router protocol Multichain said yesterday that the Terra/Fantom (FTM) bridge was live, bringing more functionalities to the Terra network.

Terra has been attracting more than $200 billion in funds in recent months, which is another positive factor for LUNA’s price, so the bullish momentum should continue for this digital coin. The $100 level doesn’t look too far now after breaching $80 and $85, so those who are long should hold on to their trades.

Shiba Inu Daily Chart Analysis – The Support at $0.000030 Is Holding

The 100 SMA has turned into resistance now for Shiba Inu

Shiba Inu decided to turn bullish in October, surging more than 10 times in value. But, it couldn’t hold the gains and the bearish sentiment in the crypto market in the last two months has been affecting this coin negatively. The decline doesn’t seem to stop for SHIB/USD as the lows get lower, although, we have seen some buying pressure around the $30 level. Yesterday we saw the price slip below this zone, which used to be resistance before, but buyers kicked in and the price moved above it again.

Will this level hold? It does look like a good place for the pullback to end since Shiba is severely oversold now. since fundamentals look positive for this token. The increasing popularity has made different crypto exchanges list Shiba in recent months, with Bit2Me, BitoEX and Unocoin being the latest ones to do so. Besides that, an online petition among the SHIB Army requesting a massive burn soon is gaining traction. If that goes through, then it should bring some inflation too, such as in Terra LUNA. So, we are following this petition and will follow the price action in Shiba to see where we can buy this crypto.