Terra token (LUNA) grew by more than 30% per day

The Terra cryptocurrency LUNA $0.23 Terra 4.39% Market capitalization $0.16 billion VOL. 24 hours $6.31 million has surged by 30.58% overnight, reaching a price of $ 0.789. This breakthrough signals a possible breakout to the resistance level of $ 0.895 and potential further growth to $ 1.50.

The breakout of LUNA from the downward channel was a turning point that changed market sentiment. Currently, the key challenge for LUNA is to overcome the resistance level of $ 0.895. If the token manages to break through this barrier, the next target may be $ 1.50.

The market is also forming a «golden cross,» a technical indicator that often signals the start of a new uptrend.

Meanwhile, the RSI (Relative Strength Index) is 80.15 and signals an overbought condition, but also indicates a strong upward trend. The MACD (moving average convergence divergence diagram) is 0.0211 and confirms the optimistic outlook. Despite the strong momentum, traders should be cautious due to the volatility risks associated with overbought conditions.Social activity around Terra is reported to have increased significantly, rising from 0.100 to 0.163 per day. While this helps to increase interest in the token, a rapid increase in social dominance often leads to greater volatility.The current balance between shorts (49.39%) and longs (50.61%) indicates uncertainty among traders. If LUNA manages to gain a foothold above the $ 0.895 level and confirm the golden cross, the token could reach $ 1.50.However, volatility and technical risks remain, so traders should closely monitor further developments.