Terra price analysis: LUNA breaks below $40, will bulls reclaim losses?

TL;DR Breakdown Terra price analysis is bearish today.Support is found at $34.Resistance is found at $40. The Terra price analysis is on the bearish side today. The LUNA/USD price broke below $40 today as bears took over in the increasing volatile situations. During the bearish crypto market of yesterday, when all major cryptocurrencies were falling, LUNA surprisingly showed good performance, defying the market trend. But today, when cryptocurrencies are showing some recovery from the losses, LUNA is again against the trend and is in a bearish domain. The next support is present at $34, followed by another support of $24. In contrast, the next immediate resistance is found at $40, from where LUNA got rejected today, followed by the highest resistance of $43. LUNA/USD 1-day price chart: LUNA is under market pressure as the price drops significantly The 1-day price chart for Terra price analysis shows a decline in price as a bearish crossover happened today. Bears took over the bullish momentum of the last three days as selling pressure came in from the market. Today LUNA/USD came down from $40 to $37 at the time of writing, and a further decline is also possible. LUNA/USD 1-day price chart. Source: Tradingview The volatility is on the increasing side for LUNA/USD pair as Bollinger bands are widening up, which is a negative indication for the cryptocurrency. The upper Bollinger band is at $34, and the lower band is at $25, maki...