Terra price headlines the new altcoin season, but LUNA may need to pullback
Terra price has quickly positioned itself as a leading cryptocurrency with an astonishing 320% gain since July 21, carrying the altcoin into new highs yesterday. The emerging bearish momentum divergence on the intra-day charts may signal that the momentum driving LUNA higher is beginning to be exhausted, and speculators should prepare for a correction in the short term.
Solana price completes audacious advance, as SOL prepares for FOMO to leave the building
Solana price has climbed 170% since July 21, breaking through the symmetrical triangle’s measured move of 69% and the previous all-time high of $61.44 before coming within two points of the 141.4% extension at $79.00 today. However, SOL is set to consolidate based on the extreme readings on several indicators and today’s rapid retracement. The May 18 high of $61.44 should offer some support during the corrective process.
Elrond price should pull back, but EGLD wants a 40% rally
Elrond price has gained 118.48% since July 21, listing it as one of the better performing cryptocurrencies since the rally began. In the process, EGLD shredded the resistance at $113.09, overcame the 200-day SMA and tagged the 38.2% and 50% Fibonacci retracement levels at $128.21 and $151.70, respectively. Moving forward, the presence of a bearish momentum divergence on various timeframes suggests that any upward resolution from the recent price compression may be temporary.
