Market Overview: Terra (LUNAUSDT) 24-Hour Technical Summary

• Terra’s LUNAUSDT fell 2.6% over 24 hours, with bearish momentum intensifying after 19:00 ET.
• A bearish engulfing pattern formed at 0.1691–0.1673, confirming downward bias from key resistance.
• Volatility expanded during the early morning dip, with a 0.1635 low testing 61.8% Fibonacci support.
• RSI entered oversold territory below 30, but price failed to rebound above 0.166, signaling weak conviction.
• Volume surged during the 00:00–03:00 ET selloff, confirming bearish continuation.

Terra’s LUNAUSDT opened at 0.1691 (12:00 ET − 1), hit a high of 0.1701, a low of 0.1622, and closed at 0.1662 (12:00 ET). Total volume was 14,799,185.69, and notional turnover reached $2,477,860.36. The 24-hour selloff reflects growing bearish sentiment, with price failing to reclaim key resistance levels after multiple attempts.

Structure & Formations

A bearish engulfing pattern formed at 0.1691–0.1673, confirming a breakdown from key resistance. Price then fell into a bearish consolidation phase, with a low at 0.1622 testing 61.8% Fibonacci support. A long lower shadow at 0.1643–0.1635 suggests a potential bounce, but the failure to close above 0.166 indicates weak buying interest.

Moving Averages

On the 15-minute chart, the 20-period MA dipped below the 50-period MA, signaling short-term bearish bias. On the daily chart, the 50-period MA (0.1667) and 100-period MA (0.1675) are converging, with price trading below both, reinforcing a medium-term downtrend.

MACD & RSI

The MACD crossed below the signal line after 19:00 ET, confirming bearish momentum. RSI dropped to 29, entering oversold territory, but no meaningful rebound followed, suggesting a continuation of the selloff. The divergence between falling price and stabilizing RSI may hint at a potential short-term bounce, but caution is warranted.

Bollinger Bands

Volatility expanded during the 00:00–03:00 ET selloff, with price breaking below the lower Bollinger Band at 0.1622. The 20-period BB width increased from 0.0012 to 0.0028, reflecting heightened uncertainty. Price remains near the lower band, suggesting further downside risk unless a strong reversal occurs.

Volume & Turnover

Volume spiked during the 00:00–03:00 ET selloff, with a 460,000+ volume candle at 0.1622–0.1631 confirming bearish continuation. Notional turnover rose in tandem, with no significant divergence, supporting the idea that bears are in control.

Fibonacci Retracements

The 61.8% Fibonacci level at 0.1649–0.1651 held briefly during a morning rebound, but price failed to close above it. A test of the 38.2% level at 0.1669–0.1675 may occur, but a failure to break above it could lead to a retest of 0.1635–0.1622.

Terra’s LUNAUSDT may consolidate near 0.165–0.166 in the short term, but the broader bearish bias remains intact. Investors should watch for a sustained move above 0.1675 to signal a potential reversal, or a breakdown below 0.1635 to accelerate the downtrend. Volatility remains elevated, and further downside risks persist in the near term.