Terra & Solana Price at Critical Levels, Bullish Rally on the Cards?

Terra & Solana Price at Critical Levels, Bullish Rally on the Cards?
  • Terra’s price moved in a rising and sliding wedge.
  • The LUNA price may return to $50 in the near future.

The crypto market seems to be heating up as the market leader Bitcoin hits fresh highs. After a brief pause for profit-taking, the other major cryptocurrencies are poised to break new highs. Terra (LUNA) and Solana (SOL) prices benefited from the chance to rise.

The asset rallied along with Solana but fell short of $50. But it held firm over $34 and bounced off the lower levels of the bullish pattern. Thus, the Terra (LUNA) price may return to $50 in the near future.

LUNA/USDT: Source: TradingView

$100 Price Goal is Possible

After reaching its peak, Terra’s price moved in a rising and sliding wedge. After trending inside the collapsing wedge, the asset is now preparing to go north. A $100 goal is possible during the Bull Run based on the pattern.

Solana’s price has been on a slow decline after peaking at $215. Despite the violent September, the price stayed over $100. After swinging inside the ascending triangle, the asset lately broke the pattern to shoot high.

SOL/USDT: Source: TradingView

To avoid severe depletion, the asset is progressively approaching the $200 mark. So, following a bit of pullback, the asset may reach $216. With the Fibonacci 1.6 level around $230, a breakthrough from the trend line may push prices to these levels.

Finally, while the bitcoin price lays the groundwork for the return of the Bull Run in 2021, numerous altcoins anxiously await, XRP, Cardano, and Ethereum. The prices of Solana (SOL) and Terra (LUNA) may also achieve their targets. According to CoinMarketCap, the price of Solana (SOL) is $183.28, and the price of Terra (LUNA) is $39.92.

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A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.