Terra becomes top-10 crypto: Classic \’bull pennant\’ setup paint $100 LUNA price target

Terra becomes top-10 crypto: Classic \'bull pennant\' setup paint $100 LUNA price target

Terra (LUNA) faces the prospects of hitting $100 in the coming weeks as it paints a classic bull pennant structure.

In detail, bull pennants appear as the price trends inside a triangle pattern after a strong move upside. Many analysts see it as a sign of bullish continuation, i.e., they think the instrument would eventually break above the triangle\’s upper trendline to resume its price rally higher.

LUNA/USDT four-hour chart featuring Bull Pennant setup. Source: TradingView
LUNA circulating market capitalization. Source: Messari

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LUNA/USDT versus BTC/USD daily price chart. Source: TradingView

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