Terra, Monero, SAND Price Analysis: 09 May


The broader market took a nearly 4% 24-hour plunge on its global market cap at press time. Consequently, Terra, Monero, and SAND’s 4-hour RSI dived to exhibit a bearish inclination. The bulls needed to now hold on to their immediate grounds while stalling the consistent sell-off on high volumes.

Terra (LUNA)

Track live crypto price of 10000+ coins!


Source: TradingView, LUNA/USDT

As the $101-resistance posed a hefty hurdle in the December rally, LUNA’s recession phase initiated. After the price kept bouncing around the long-term 61.8% Fibonacci support for a few weeks, the buyers finally found their lost thrust. 

Consequently, LUNA saw an over 144% growth (from 22 Feb) and rallied all the way up to its ATH on 5 April. Over the last month, the sellers quickly propelled a correction while LUNA lost 23.6%, 38.2%, and 50% Fibonacci support.

At press time, LUNA traded at $62.13, down by 4.72% in the last 24 hours. The RSI sailed in the oversold region after the sellers took charge of the recent trend. Further, due to a bullish divergence with price, a near-term revival seemed plausible. With the -DI finally looking south, this could ease the selling pressure in the coming sessions. 

Monero (XMR)

Source: TradingView, XMR/USD

XMR’s recent bull run took an expected u-turn from the eight-month ceiling in the $283-zone. The price then rushed to match its multi-month lows at the $199-baseline.

Related:  Citadel CEO Ken Griffin Spills Beans on Why He Outbid ConstitutionDAO

The previous bull run sprang after XMR plunged to its yearly lows on 24 February. With the $283-mark keeping a check on the bull power, the sellers kept the alt under the basis line (green) of the Bollinger Bands for the most part.

At press time, the alt traded at $210.874. The RSI took a plunge below the equilibrium after the recent sell-off. From here on, the 40-45 range would be crucial for clinching a recovery in the days to come. But the alt’s ADX (red) displayed a rather substantially weak directional trend.

The Sandbox (SAND)

Source: TradingView, SAND/USDT

After the 38.2% Fibonacci resistance refuted the buying rally, the sellers re-navigated the trend in their favor by sinking the price toward the $1.9 base. This trajectory has affected the buyer’s ability to topple the trendline resistance (white).

As the altcoin witnessed a bearish flag on the 4-hour timeframe, the expected downward slide kept SAND below its 20 EMA (red) and 50 EMA (cyan). Consequently, SAND was down by nearly 22.9% over the last four days. Now it entered into compression in the $1.9-$2 zone. At press time, SAND traded at $0.0. Now, the 20 EMA would look to curb possible revival rallies in the near term.


Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: