Terra Analysis – The triangle closes. Will the trend continue to the new ATH?

Terra continues its growing trend in the long run and is currently forming a sideway structure that may herald another increasing movement. The current trend of cryptocurrency is stable and achieves decent performance. Even short-term lows are still rising. Formation of this type below the maximum may mean bull signal.

Price is likely to break either resistance or suppor tbecause the symmetrical triangle is slowly closing. It will be closed about this month. We see that volumes are still present and interest in trading has not subsided. If we want to think about continuing the trend, then the price must overcome previous maximum $ 88.00.

Terra in long-term growth. Source: TradingView

Terra has been growing for a long time

If you are wondering if it is not too late to purchase such a cryptocurrency, so the answer in the long run is no. There is no reason to think that the current price has reached ATH. On the contrary, the structure of the graph points to stable continued growth. Of course, in the short term, the price can close the triangle even with a decline.

In that case, we would be watching support at $ 63.00 and $ 53.00. The long-term support zone is located at the point of control of $ 43.00. If the price fell to this level as well, there would be no change in the long run trend.