Terra price forecast: Luna could rise 40% after minor adjustments

Terra price forecast: Luna could rise 40% after minor adjustments

The price of LUNA rose because there was a 200% bull session in two weeks.

The 40% to $19.98 is seen after a minor correction to the $19.98 consolidation.

A bullish chart breakout will occur when Terra breaks this at $14.22.

The price of Luna has increased dramatically over the past two weeks. Progress seems negligible and could use some improvement.

LUNA is on the other side of the cash flow

LUNA has seen a huge price increase, from $5 to around $17, an impressive 3x return in less than two weeks. Now, Terra's price could clear a major support hurdle before retracing the 78.6% Fibonacci trailing level at $14.22.

The Bollinger Bands index shows an interesting correlation with the LUNA corrective action. Since February 28, almost every correction wave has seen a sharp return to the central line of the Bollinger Bands. If that happens, Terra will fall to $14.22, a level that coincides with the 78.6% Fibonacci retracement extension, confirming this story.

However, a revision for the period indicates that it is likely to reach an all-time high at $16.78. Increased buying pressure at this level would push LUNA higher by 127.2% to the Fibonacci retracement level at $19.98, 40% from $14.22.

On the other hand, investors should remember that the 40% rally relies on buyers buying the Moon, leading the decline to the 78.6% Fibonacci retracement level. If market participants decide to make a profit here, it would lead to a breakdown of the support barrier, resulting in a 13% decline to $12.27, which corresponds to a Fibonacci level of 61.8% . . . .