Terra (LUNA) Price Prediction: Terra Struggles to Reverse Downtrend as Leverage Spikes
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LUNA token remains under bearish pressure, trading below $0.0741 with a series of lower highs. Despite a bounce from $0.0519, the broader trend is downwards as it tests Fibonacci levels around $0.0657. Increased open interest and volatility suggest potential for sharp rallies and pullbacks.
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- Lower highs persist as LUNA stalls below $0.0741, keeping short-term trend bearish.
- Volatility expansion hints at a breakout, but momentum lacks strong conviction.
- Speculative open interest spikes keep driving sharp rallies and fast pullbacks often.
Terra’s LUNA token continues to trade under pressure on the 4-hour chart, even as short-term buyers attempt to regain control. Market structure still reflects a series of lower highs and lower lows from the January peak near $0.1100.
Although price rebounded from the $0.0519 macro base, the broader trend remains tilted to the downside. Traders now watch key Fibonacci levels as volatility slowly returns to the market.
Bearish Structure Caps Recovery Attempts
LUNA currently tests the 0.236 Fibonacci retracement near $0.0657 after bouncing from its macro low. However, the token remains below the 0.382 level at $0.…
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