Terra, SAND, Monero Price Analysis – May 9, 2022
The broad crypto market cap recorded a 5% drop over the past day, changing hands near $1.50 trillion at this publication.
As a result, Terra, SAND, and Monero’s 4hr Relative Strength Index plunged to display bearish inclinations. Bulls should guard their immediate footings while stalling the dominant declines on high volumes.
LUNA kick-started a downside phase as the resistance at $101 remained a massive obstacle to the December rally. Buyers finally reclaimed the lost thrust after the token kept rebounding near the longer-term 61.8% FIB support.
That triggered a more than 144% growth since February 2022, taking LUNA towards its lifetime high on April 4. However, sellers initialed a retracement within the previous month, and the alt surrendered 23.6%, 38.2%, and 50% FIB supports.
While writing this content, LUNA changed hands near $62.13, losing 4.72% within the past 24 hours. The Relative Strength Index swayed into the oversold area as sellers dominated the latest trends.
Moreover, a short-term revival appeared plausible as the indicator presented a bullish divergence with LUNA price. The upcoming sessions might see the selling momentum easing as the –DI finally looks south.
The latest bull run by XMR made an expected turn from $283, an 8-month ceiling. That saw the alt rushing towards the multi-month lows around the baseline of $199.
The previous upsurge emerged after Monero dropped to yearly lows on February 24. As the $283 suppressed bullish power, sellers kept XMR below the Bollinger Bands basis line.
XMR traded near $210.874 at this publication. The Relative Strength index dropped beneath the equilibrium following the latest crash. The range of 40 – 45 remains critical for recoveries in the coming days. Meanwhile, the ADX showed significantly feeble directional bias.
Sellers dominated after 38.2% FIB resistance halted the upside rally, sinking SAND toward $1.9. The downward move impacted the ability of buyers to overcome the trend-line resistance. As Sandbox saw a pessimistic flag on its 4hr timeframe, expected declines saw SAND settling beneath the 20EMA and 50EMA.
Such developments had SAND losing approximately 22.9% within the past four days. For now, the alt hovers within the compression region at $1.9 – $2.
While publishing this content, SAND traded at $1.86, following a 5.68% loss within the past 24 hours. Nevertheless, the 20EMA might prevent potential recovery rallies in the short term.
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.