Terra price has witnessed a 30% correction since hitting its all-time high at $22.35. A bounce from the 61.8% Fibonacci retracement level at $15.68 could propel LUNA higher. A bearish scenario could come into play if the demand barrier at $15.68 breaks down. Terra price seems poised for a quick upswing as it bounces off a crucial support barrier. Terra price eyes a retest of all-time high Terra price has been in a corrective phase that has resulted in a 30% drop toward the 61.8% Fibonacci retracement level. At the time of writing, LUNA was trading just above this point at $17.38, suggesting that a bounce is underway. Adding credence to this bullish outlook is the Tom DeMark (TD) Sequential indicator, which indicates a potential end to this downtrend due to the formation of a red eight candlestick on the 6-hour chart. If the current candlestick closes below $19.25, the indicator will generate a red nine candlestick, a buy signal for Terra price. In such a case, the setup forecasts a one-to-four candlestick upswing. If this scenario were to play out, Terra price could first surge past the 78.6% Fibonacci retracement level at $8.59, which would serve as a secondary confirmation of the upswing. Here, a persistence of bullish momentum could catapult the altcoin 20% to retest its all-time high at 22.35. LUNA/USDT 6-hour chart Regardless of the bullish signals, investors need to understand that a close above $19.25 would disrupt the TD Sequential indicator’s count, and thus a buy signal may never erupt. If the bears manage to invoke a 6-hour candlestick close below $15.68, it will invalidate the bullish outlook. In this case, Terra price could drop 12% to the immediate demand barrier at $13.6, coinciding with the 50% Fibonacci retracement level. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Gold Futures: Extra downside in the pipeline FX Street 1 year Terra price has witnessed a 30% correction since hitting its all-time high at $22.35. A bounce from the 61.8% Fibonacci retracement level at $15.68 could propel LUNA higher. A bearish scenario could come into play if the demand barrier at $15.68 breaks down. Terra price seems poised for a quick upswing as it bounces off a crucial support barrier. Terra price eyes a retest of all-time high Terra price has been in a corrective phase that has resulted in a 30% drop toward the 61.8% Fibonacci retracement level. At the time of writing, LUNA was trading just above this point… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.