Terra (LUNA) and Basic Attention Token (BAT) Technical Analysis: What to Expect?
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Terra (LUNA)
The platform is a global payment system using stablecoins pegged to the USD and South Korean Won, among other fiat currencies. LUNA plays a significant role in stabilizing its stablecoins peg.
Past Performance of LUNA
The path of the least resistance is northwards as per Terra technical analysis in the daily chart.
At the time of writing, LUNA is up an impressive 28 percent in the past 24 hours.
The Terra token is trading within a bullish breakout pattern.
Day-Ahead and What to Expect
LUNA technical analysis points to bulls as price action reveals.
While bull bars push prices higher in a bullish breakout pattern with support at $11, buyers may search for entries in lower time frames, targeting March 2021 highs at $22—and higher.
LUNA/USDT Technical Analysis
LUNA token is undoubtedly bullish, as price action in the daily chart reveals.
Candlesticks are banding along the upper BB.
Every opportunity for a dip in lower time frames offers an opportunity to double down with targets above $22 towards $30 in a bullish breakout pattern, continuing stellar gains of Q1 2021.
Basic Attention Token (BAT)
The Ethereum-based platform, Basic Attention Token, aims to revolutionize advertising, anchoring their operations on BAT.
Past Performance of BAT
After a month of consolidation, BAT token prices bottomed up from the 78.6 percent Fibonacci retracement level of the H1 2021 trade range.
This represented a deep correction and the basis for another wave of higher highs.
When writing, BAT is up 4% versus the USD but outperforming BTC and ETH on the last trading day.
Day-Ahead and What to Expect
Buyers are clearly in control.
As per BAT technical analysis, the token is within a bullish breakout pattern above the July 2021 high of $0.60.
The immediate buy target is at $0.95 in continuation of the buying trend from late July 2021.
BAT/USDT Technical Analysis
BAT token higher highs are clearer in higher time frames.
From the daily chart, contractions are met with rapid expansions, an opportunity for BAT bulls as long as BAT holds above $0.65 and the middle BB.
The first target, in this arrangement, is $0.95.
Losses below $0.65 and the middle BB could slow down ambitious buyers as LUNA prices shrink to $0.60 in a retest.