Terra(LUNA) & Avalanche(AVAX) Price Records Double-Digit Gains, Who Will Reach $100 First?

The post Terra(LUNA) & Avalanche(AVAX) Price Records Double-Digit Gains, Who Will Reach $100 First? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Terra(LUNA) Price Analysis

The LUNA price stabilized from the deep plunge since the beginning of the current month and compelled the price to hover within the parallel channel. After the asset attempted a couple of times to breach through the levels, the Terra price finally broke through the consolidation to rally high. However, a strong bullish day close above these levels may certify with a breakout, and until then a substantial uptrend needs to be maintained. 

The LUNA price amid the recent sell-off had slashed the price much below the trend line which is maintained since Q3 2021. No doubt, it attempted previously to slice through these levels but ended up faking.

However, the current uptrend also manifests a similar approach, yet the buying pressure appears to be pretty high and hence no immediate retest could be expected. Therefore, the LUNA price may eventually continue to rise high until it achieves the local resistance at $69.17. 

Avalanche(AVAX) Price Analysis

Avalanche price is yet again heading towards the upper trend line in order to clear these levels and validate with the uptrend. The price had earlier tested the trend line and surpassed but woefully plunged back below the levels just below $70.

The uptrend is currently challenged by the bears infrequent intervals in an attempt to weaken the rally. However, the AVAX price appears to be pretty confident of its upcoming plot. 

The AVAX price started depleting with huge intensity ever since it smashed the highs close to $150 just before the end of 2021. However, the acute plunge was further challenged by the bears constantly and dragged the price to the lowest levels very close to the yearly lows.

However, the asset has witnessed a considerable jump in the price since the beginning of February which appears to have tested the upper resistance strongly. And hence with a strong bang, the price may hover above the trend line in the next couple of hours.