Price Predictions

LUNA Price Down by 83.39% & AVAX Price By 21.78%: Which Token May Ignite a Recovery First?

Key Takeaways:

  • Terra(LUNA) price continues to halve for the second consecutive day and slumps by another 54.12%, nearing INR 1100 levels
  • Avalanche(AVAX) price ignites a recovery and surges by 5.29% and heading strongly towards INR 3500 

How High will Terra LUNA Price Go in May 2022 

Terra LUNA price since the beginning of the month of March surged massively by nearly 100% to reach levels above INR 100. This was when the entire crypto space was consolidating very hard within narrow ranges and LUNA price displayed acute strength at the same time. However, things changed when Terra’s UST lost its peg which triggered LUNA’s massive slump. 

Currently, the LUNA price has sliced heavily by more than 95% and reached below INR 10. Moreover, the asset is very close to the crucial and the only support above zero. Therefore, if the price losses the support at INR 4.28, then it may slide down below zero too. And in the worst cases, the price may also trade around its initial levels around INR 0.5 or below. 

How High will Avalanche AVAX Price Go in May 2022

The recent market movements have deeply impacted the Avalanche price as well. The asset was on a recovery path after shedding nearly 30% of its price to reach INR 40. However, the recent price slash mercilessly dragged the price close to INR 32, where-in a minor flip escalated the price above INR 37. The current market conditions are extremely volatile and hence the price is primed to undertake extreme movements irrespective of the direction. 

The AVAX price could consolidate below $50 for another couple of days or until the market conditions ease out a little. However, to end the monthly trade, the price is expected to inculcate a bullish momentum and range beyond INR 50 first. Moreover, if the asset undergoes a v-shape recovery then the possibilities of regaining the positions above INR 63.69 are high.

Terra(LUNA) Technical Analysis 

Source: Tradingview

  • The LUNA price after a bullish start for the month dropped hard in an attempt to stabilize the UST stablecoin
  • At the press time, the price has dropped below the crucial support at INR 4.83 and hence it is pretty evident that the asset may reach the lower support below INR 1
  • The traders appear to have trust in the asset as, despite the price being heavily discounted, they remain aloof, and hence no recovery is witnessed
  • However, the price which is currently in the deep bearish well may drain further, and hence even if it rebounds, a recovery beyond INR 10 may also be a tedious job this month

Check out the Latest Prices, Charts, and Data of  LUNA/USDT.

Avalanche(AVAX) Technical Analysis 

Source: Tradingview

  • Avalanche AVAX price after breaking from the symmetrical triangle, slashed hard and dropped down to test the crucial support below INR 40
  • No doubt the price did attempt to retest the support levels broken, but after a failed attempt, it appears that this time the price could undergo a strong recovery
  • The AVAX price is consolidating heavily along with INR 40 and with a bullish kick-start may range high beyond INR 50 but achieving INR 58 may uplift the price above the danger levels
  • Else, the price could maintain a narrow consolidation between INR 42 and INR 55 throughout the month

Check out the Latest Prices, Charts, and Data of  AVAX/USDT.

Terra(LUNA) vs Avalanche (AVAX): Analysis 

Comparison Basis Terra (LUNA) Avalanche (AVAX)
Launch date 2019 2020
Founders Daniel Shin and Do Kwon Emin Gun Sirer, Kevin Sekniqi, and Maofan “Ted” Yin
Blockchain protocol Terra network Avalanche blockchain
Token type Native Native
Use case It’s a fiat pegged stable coin and acts as a governance token for the LUNA coin holders. It is working on the development of its own ecosystem of DeFi and DApps.
Market Cap* $818,223,919 $10,161,837,242
Circulation Supply** 530,700,731.01 LUNA 268,961,473.20 AVAX
Consensus method Delegated Proof-of-stake (DPoS) Proof-of-stake (PoS)

MarketCap* and Circulation Supply** as of May 2022

Source: CoinMarketCap

Read more detailed fundamental analysis of LUNA vs AVAX


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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