One of the fastest growing Blockchains Terra has recently retraced from its previous ATH of around $22 to touch the 0.382 FIB at $11.6 on the daily.
Is retracement done or more to come?
Indicators on daily shows that the Ichimoku lagging span is pointing upwards, RSI pointing upwards, Stochastic RSI looks like it's about to turn soon and MACD as well.
I believe we have bottomed might be some sideways action for a while, looking at technicals it would be nice to see a daily close above $15.54, the 0.618 FIB level which is the next resitance and flip that to support with some increased volume.
Fundamentally it's a strong project, part of the Cosmos ecosystem with lot of great projects like MIR, ANC building on the Terra blockchain.
My targets are between $ 26-32, the 1.272-1.618 FIB levels and up potentially up to 35 the 1.786 FIB
Is retracement done or more to come?
Indicators on daily shows that the Ichimoku lagging span is pointing upwards, RSI pointing upwards, Stochastic RSI looks like it's about to turn soon and MACD as well.
I believe we have bottomed might be some sideways action for a while, looking at technicals it would be nice to see a daily close above $15.54, the 0.618 FIB level which is the next resitance and flip that to support with some increased volume.
Fundamentally it's a strong project, part of the Cosmos ecosystem with lot of great projects like MIR, ANC building on the Terra blockchain.
My targets are between $ 26-32, the 1.272-1.618 FIB levels and up potentially up to 35 the 1.786 FIB