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Terra Luna - Extreme price increase is imminent

 


Terra Luna price has retested the $100 resistance since our last prediction. Further, the price has formed a trend line through the constant rejection from the resistance. This trendline is approaching resistance, which is why an ascending triangle has formed. Ascending triangles are continuation formations, so we believe a breakout is imminent here. Formations break out in most cases in the last third. Based on this, we believe that the price could break out at any time. This breakout will happen with about a 70% chance to the upside. Based on this statistic, we anticipate a bullish breakout.


How far will Terra Luna rise

If we draw a vertical line from the start of the triangle (beginning of the trendline to resistance ($100)) and place it on resistance, we get the target in case of a bullish breakout. This gives us a possible future price of around $135. Since the ABC sequence would finally be activated by a breakout, more information on the sequence can be found in our last forecast , we see it as likely that the Terra Luna price will rise to around $135. It is also possible for the price to rally towards $150 as the first target in the sequence is located at $145.

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