Terra Price Analysis: LUNA tests $40, but corrects downwards to $37

TL;DR Breakdown Terra price analysis is bullish for today.LUNA/USD found support at $36 again.LUNA is set for a higher swing today For today, the Terra price analysis is favourable since a consolidation above the $34 support was observed overnight. As a result, we expect LUNA/USD to rise further over the next 24 hours and regain some of the losses incurred earlier this week. Over the last 24 hours, the market fluctuated in a mixed manner. Bitcoin and Ethereum are both slightly up, with 1.32 and 0.2 percent gains, while Solana (SOL) continues to dominate the market with a 14 percent increase. Terra price movement in the last 24 hours: Terra retraces to $34, forms consolidation overnight The LUNA/USD pair is locked in a tight range of $34.11 to $36.30 over the last 24 hours, yet there’s no sign of significant movement during that period. Volumes have tumbled by 35.27 percent, with $807.78 billion worth of transactions compared to a market capitalization of $14.18 billion. Zooming in on today’s price action, we can see a small consolidation at strong support of $34 after an attempt to break through resistance at  $36 was foiled. There’s not much of an effort to break above $36, which means that the market is likely to continue retracing to $34/35 for another attempt at breaking out of resistance at $36. When is breakout likely? Given the strength of support at $34, today’s analysis is bullish. LUNA/U...