Terra(LUNA) Price Prediction: 1st December 2021

Overview

Terra is a public blockchain protocol that aims to offer more stable and secure cross-border payments using fiat-pegged stablecoins. The native token LUNA coin can be used to stake it on the blockchain which is in turn pegged to many other currencies in the world including bitcoin. The stablecoin of the platform Terra is convertible into LUNA crypto instead of pegging by any fiat currency. 

While Terra’s price remains stable, LUNA’s price may go parabolic in the upcoming days. Will the LUNA price undergo yet another bull run? Well, this blog aims to provide the best suitable response for the query. Moreover, Terra’s price prediction also emphasizes the upcoming rally that appears to be pretty bullish. Let’s dive deep and know more about the assets as well as the price trend.

How & When Terra Came Into Existence?

Terra was first developed by Daniel Shin and Do Kwon back in 2018. The blockchain is designed in such a way that it employs a price stabilization algorithm. This algorithm balances the supply of the coin against the price keeping the price more or less stable. The development of Terra began in early 2018 and a mainnet was launched in April 2019. 

As of the press time it offers stablecoins pegged to the U.S.dollar, South Korean won, Mongolian tugrik, etc. LUNA is used to stabilize the price of the protocol and the holders have the authority to vote on the governance protocols. Moreover, Terra is backed by the Terra Alliance group that advocates the wider adoption of Terra. 

Will LUNA Touch $10 by the End of 2021?

The Terra (LUNA) began the yearly trade on a bullish note after hovering below $1 through the year 2020. Despite a notable pullback, yet the price of LUNA cryptocurrency maintains an upward trajectory and could continue to register a consistent uptrend. 

The initial bull run could uplift the price from less than $1 to levels close to $30. However, a notable consolidation after a downtrend hovered around the space that flipped again during mid of July. The second bull run was gigantic and marked the highs at $58.97. 

The asset smashed the ATH recently and hence the asset may experience a considerable consolidation. And therefore following a similar trend, the LUNA price may trade somewhere between $65 to $78 by the end of the year 2021. 

Factors Affecting LUNA Price Today

The launch of the Anchor protocol was pretty bullish for the LUNA price. Moreover, the platform has partnered with various other firms namely, Chai which is a mobile application. And more other upcoming updates may impact the price to a large extent in the coming days. 

Considering the technicals, MACD has just displayed a bullish trend with buying volume slowly mounting up. And hence a three-digit target may be quite possible by the end of 2021. On the other hand, RSI, after hovering at the average levels for quite a long time, attempted to surpass the upper levels. However, it failed to reach these levels, yet appears to retest very soon.

On the other hand, Terra is backed by Terra Alliance which works for the development of the platform. The company successfully gathered a huge user base through e-commerce platforms of more than 40 million in 10 countries worth more than $25 billion. These users are members of the alliance. 

Where to Buy Terra (LUNA) Coin?

DeFi tokens have gained immense popularity in recent times and with the growing adoption, many platforms offer to trade with different pairs. Terra cryptocurrency is listed on many popular exchanges and CoinDCX is one among them. This platform offers a unique user experience and hassle-free trade at affordable rates. You can easily buy Terra coin by downloading the CoinDCX mobile app on your smartphone. 

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