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Terra Coin Price Balloons 30% – But Can LUNA Reach Higher Terrain?
Terra (LUNA) woke up to a good day on Wednesday as the token made an impressive 30% jump in its price on the way to tallying a high of $ 3.08.
- Terra accounted for 25.06% of the entire token holdings among the top 100 ETH whales
- LUNA price surged by 30% today and hit $ 3.08
- Bullish momentum is possible and trading price might reach $ 3.25
The crypto, though, immediately experienced price correction as it is trading at $ 2.69 at press time according to tracking from Coingecko.
Still, Terra is looking at a 5.5% increase for the past seven days and a higher jump of 7.4% for the past two weeks.
It is still miles away from its all-time high of $ 18.87 attained in March 28 of this year, losing 85.6% of that value.
The good news is that it is currently up by 77.6% of from its all-time low of $ 1.53 hit on August 29, 2022.
Terra Surges As It Flips Lido Staked ETH Tokens
According to online crypto information source WhaleStats, Terra became the top holding by dollars of the top 100 Ethereum whales, accounting for 25.06% of all token holdings.
In doing so, LUNA was able to edge out Lido staked ETH (stETH) tokens and even surpassed USDC and USDT holdings of the whales.
In total, Ethereum whales included in the top 100 held around $ 820 million worth of Terra digital coin.
The wormhole interoperability protocol asset was then leveraged by the Ethereum whales to exit liquidity, causing the unprecedented rally that pushed LUNA price to grow by 30%.
Terra also witnessed a 150% increase in its trading volumes for the past hours, contributing to the bullish rally the digital asset made.
Terra Price Action At A Glance
While the Terra coin price ballooned by 30%, it still remains to be seen if LUNA can reach higher terrain during this time when crypto market is looking at high level of uncertainties among market participants.
It can be recalled that during the period of September 10 to 26, there was a massive sell-off involving the altcoin, driving its price all the way down to the $ 2 psychological support marker.
This led to the formation of a pennant pattern for Terra, indicating a continuance of the bearish momentum it was in before this recent price surge.
But all is not lost for LUNA, as there is a slight chance that the token will break the overhead trendline. If that happens, just like today, Terra might end up in an upward trend, going as high as 20% to hit $ 3.25.
As for its intraday performance, the altcoin is in a bullish trend but volatility remains high.
Crypto total market cap at $ 853 billion on the daily chart | Featured image from CafeF, Source: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.
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Quant Price Watch: Crypto Looking At 20% Rally This Week With This Pattern
Quant (QNT) may be one of the lesser known cryptocurrencies compared to Bitcoin, Ethereum, XRP, Cardano and Dogecoin, but is one of those digital assets that is set for a bullish rally over the next few days.
- Quant’s notches 14.44% seven-day advance
- The crypto is expected to rise by 20% due to its bullish momentum
- QNT is outperforming a lot of altcoins after the September bearish market
At press time, tracking from Coincodex shows the crypto is changing hands at $ 153.63 and is enjoying a 14.44% increase for the past week.
The digital currency attained its all-time high on September 11, 2021 when it traded for $ 424.43 but has fallen victim into the expected volatility of the crypto space and at one point fell to $ 40.97.
But armed with resilience, the asset managed to recover and rise to $ 163.41 (its highest price after its all-time high) and is sitting at a bullish sentiment.
Quant Price Pattern Analysis
Under what is known as the head and shoulder pattern, Quant’s price is looking at an immediate bullish run, potentially once again outperforming other more popular and bigger cryptocurrencies.
Source: TradingView
The asset is coming from an impressive jump from its September value of $ 86, increasing by as much as 78% to trade at above $ 150.
There is an observed struggle for the crypto as it tests the $ 160 level. Bears are attempting to control inflation, contributing to this scenario.
If Quant is successful in breaking the $ 155 resistance marker, sideline traders will have the opportunity to enter, pushing the asset’s price by 20% all the way to $ 188.
At that point, said trading price will stand as its new resistance, the lowest of which could be the $ 160. Meanwhile, support levels for Quant currently stand between $ 141 and $ 130.
A Deeper Look At Quant As A Crypto
Quant market capitalization is currently at $ 1.84 billion. It ranks 32nd overall, 10th in the Ethereum (ERC20) tokens sector and 19th in Layer 1 assets.
During its Initial Coin Offering (ICO) that ended on April 30, 2018, the crypto was priced at $ 1.51. Since then, it has put together an impressive showing, increasing its value by 101.79% against the U.S. dollar.
Against cryptocurrency leaders Bitcoin and Ethereum, Quant increased its ICO price 48.69x and 51.52x, respectively.
The year 2021 was easily the best for the digital asset, as it recorded a mind-blowing 1,480.25% price increase, from $ 11.33 to $ 179. Meanwhile, the year 2019 was the worst for Quant, as it just managed to raise its value to $ 3.66.
Over the last five years, QNT averaged a yearly growth rate of 511.39%.
QNTUSD trading pair at $ 151.6 | Featured image from Finance Magnates, Chart: TradingView.com
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XRP Gets 60% Boost In Last 30 Days – Ripple Win Vs. SEC Seen To Lift Price Higher
XRP is in a wait-and-see position as it braces for the conclusion of a lawsuit filed by the U.S. Securities and Exchange Commission against Ripple Labs.
- XRP’s forecast average price for October 2022 is $ 0.50995
- XRP, at one point, was up by almost 60%
- Ripple Labs continue to gain procedural wins against SEC
It can be recalled that on December 22, 2020, the regulatory body announced it has lodged a complaint against the American technology firm and two of its executives for selling XRP which the complainant considers an unregistered security.
Christian Larsen, co-founder and former CEO of Ripple Labs and Bradley Garlinghouse, current CEO, was also included in the lawsuit as the duo was alleged to be involved in making around $ 600 million by selling the cryptocurrency.
Since then, the digital asset seems to have been relegated to the sidelines, affecting its performance in the crypto space.
In fact, XRP has now lost 85% of its $ 3.40-all-time high value attained on May 22, 2014. The crypto, however, is refusing to be dragged down, as it slowly climbs back to relevance.
XRP Posts Impressive 30-Day Growth
At press time, according to data from CoinMarketCap, XRP is currently changing hands at $ 0.51. It has been down by 1.7% for the past hour but at one point was up by almost 60% for the last 30 days.
The recent price correction experienced by the asset trimmed its monthly gain, which now stands at 50.3%.
Source: CoinMarketCap
Still, the 6th largest cryptocurrency in terms of market capitalization is one of the few altcoins that have managed to mount a bullish rally despite the bearish month of September.
Some analysts believe that one of the reasons for the crypto’s impressive performance is the fact that Ripple Labs managed to get procedural wins against SEC in their legal fight.
Just recently, a district judge has ordered the release of documents pertaining to a speech made by former Division Director William Hinman where he said Bitcoin and Ethereum are not securities.
XRP Price Forecast
At the start of this year, XRP has experienced fluctuations in its price that influence price forecast for the asset.
For this month, crypto experts say the asset’s average price will stand at $ 0.50995. The lowest possible price for the crypto this October is $ 0.45995 while the highest is $ 0.51995.
According to analysis, the coming month of November won’t be any different for XRP, as it is expected to trade at an average price of $ 0.51995. The crypto is expected to peak at $ 0.53995 and bottom at $ 0.48995.
In the foreseeable future, assuming Ripple Labs finally wins its legal dispute with the SEC, XRP is expected to hit and firmly hold the $ 1 mark.
XRP total market cap at $ 25.6 billion | Featured image from The Daily Hodl, Chart: TradingView.com
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