Terra 2.0 (LUNA) is up 260% while Terra Classic (LUNC) is down

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Last Updated on September 11, 2022 by Bitfinsider

Terra 2.0 Luna is on a tear today, surging up to nearly $8, increasing in price by over 250% in the last 6 hours.

While Terra Luna is experiencing euphoria, Terra Luna Classic is experiencing a bearish reversal down to $0.00044 from recent highs of $0.000593.

Altcoins have shown bullish price momentum and volatile behavior in recent days. However, Terra 2.0 Luna has ascended to the throne as the most volatile.

Terra Luna appears extremely bullish from a technical standpoint as it breaks out of the macro descending channel.

If positive price momentum continues, Terra Luna may be able to retest the day one all-time high from May 31st (launch day), as Luna Classic (LUNC) recently did.

Terra Luna broke through a key resistance level of $2.82, allowing it to rocket through multiple resistance levels that have now been converted to support.

Terra Luna rose to $7.80 earlier today before losing steam and being rejected. Terra Luna is currently trading at $5.99.

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