Terra’s native token LUNA has re-entered price discovery mode after breaking out from a symmetrical triangle that developed on its daily chart. LUNA price hit a new all-time high of $106.43, and it still has more room to go up. The technical formation forecasts that further buying pressure could push LUNA price upwards to reach a target of $122.
A sign of confirmation for the optimistic outlook would come once LUNA price prints a daily candlestick close above $104.78. Such market behavior could encourage sidelined investors to re-enter the market, helping LUNA price achieve its upside potential.
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