Terra’s native token LUNA is up a massive 70% in the last week. One technical analyst thinks the smart contract protocol is just getting prepped for another moon mission.  Covered: LUNA’s Rise The Next Stop For LUNA LUNA’s Rise Terra’s LUNA has seen an incredible rise over the year. This time a year ago, the […] The post Analyst Says LUNA Could Be Heading For $200 Sooner Than You Might Think appeared first on CryptosRus.

Analyst Says LUNA Could Be Heading For $200 Sooner Than You Might Think

Terra’s native token LUNA is up a massive 70% in the last week. One technical analyst thinks the smart contract protocol is just getting prepped for another moon mission. 

Covered:

  • LUNA’s Rise
  • The Next Stop For LUNA

LUNA’s Rise

Terra’s LUNA has seen an incredible rise over the year. This time a year ago, the token was trading in the $6 USD range. As of press time, it’s trading in the $88 dollar range. Saying Luna has been to the moon isn’t even punny, it’s literal.

Even more impressively, LUNA is not that far off from its all-time high. Back on December 27th, LUNA hit $103. The fact that it’s still in the $88 range, despite the world being in a state of incredible uncertainty, is impressive.

However, according to one analyst, the amazing run isn’t over yet for the Do Kwon-led project. Does that mean Andromeda is next?

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The Next Stop For LUNA

Exclusive Luna chart provided to CryptosRus by TechDev.

“LUNA Looks very strong,” says famed crypto analyst TechDev. It’s all thanks to how its performed after its dip.

LUNA fell as low as $46 at the end of January after hitting its all-time high. That was a healthy dip, that might have barely been one if it weren’t for the looming rate threats back in January.

But February has been a different story. Despite the whole market struggling, the top ten project has been steadily on a path to return to its all-time high. As TechDev points out LUNA, “has reclaimed trendline after breakdown – pending confirmation with weekly close.”

Not to mention, the recent rise is showing similarities to its previous rise in the fall of 2021 that ended with its all-time high. “Weekly RSI and Stoch RSI have reset to levels which preceded each of the last two major moves,” TechDev pointed out. He also noted that LUNA has done this, “all with minimal pullback relative to other alts.”

So wen Andromeda? Signs are pointing toward summertime. TechDev says if the “1.618 trend-based fib [Fibonacci] from latest swing meets the apex of triangle in May,” LUNA should be heading toward $200 by summer, doubling its all-time high.

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For more TechDev, make sure to check out his newsletter. Also, follow him on Twitter for the latest, greatest technical analysis.

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The post Analyst Says LUNA Could Be Heading For $200 Sooner Than You Might Think appeared first on CryptosRus.