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Which cryptocurrency, LUNA or AVAX, will bounce soon?

View and find out the near future of the tokens Terra vs Avalanche right now to find out where to invest your money and not burn out.

Terra (LUNA)

Terra uses decentralized stablecoins to protect the environment. Devi’s stablecoin ecosystem relies on Terra. Today, Terra’s native tokens, Luna (LUNA) and Terra USD (UST), are in the top 10.

Terra stabilizes stablecoins using LUNA. Terra encourages Luna-UST trade to maintain its peg. Terra uses Proof-of-Stake. This architecture validates transactions based on coin ownership. Staking LUNA may reward validators and delegates. LUNA attained its all-time high of $119 during the Ukraine crisis, while other cryptocurrencies fell.

Technical Analysis of LUNA

LUNA fell from $120 to $60 in two months after a dramatic increase from $50. The.618 retracements of its run from $23 to $120 is on a long-term trendline that began in August 2021. Given the market, LUNA may lose its support. LUNA has a second long-term trendline from October, approximately $53-55, close below. With a depleting RSI signal, LUNA may restart bullish interest at this level and try again for $60.

If Bitcoin (BTC) stays bearish, LUNA may reject, establish a lower high, and continue downward below $47, a significant support level that has been questioned multiple times. As BTC consolidates around $30,000 before trying to hit new highs, LUNA may be range-bound for six months.

Avalanche (AVAX)

Avalanche is emerging as a serious Ethereum competitor. The Avalanche Consensus Protocol promises fast transactions and scalable trading. It handles 4,500 transactions per second. Avalanche Consensus Protocol also mixes Classical and Nakamoto consensus methods. Avalanche uses AVAX. Market capitalization is $13 billion, thirteenth. AVAX accounts for Avalanche’s various subnets.

AVAX users must pay network transaction fees. Unlike Ethereum, the Avalanche fee is completely annihilated. Avalanche uses Proof-of-Stake. AVAX transaction validation requires currency staking. The most active validators with the most AVAX tokens have a better probability of getting chosen for Avalanche blocks. Avalanche governance votes need AVAX.

Technical Analysis of AVAX

AVAX soared from $50 to over $140 between late 2021 and the latter week of April, retracing its losses. AVAX also has a depleting RSI (relative strength index), indicating that it may maintain this important level. Even if lost, the next high-time frame support is unlikely to be broken at $32. Instead, it may retest the $50 level from below and, depending on Bitcoin’s price movement, stay range-bound or possibly retake it. The last time AVAX was at this level with the same RSI, it ignited a roughly threefold rally that sent the stock to an all-time high.

LUNA or AVAX – Which cryptocurrency will bounce in the near future?

Terra and Avalanche are both Layer-1 distributed ledgers. With the revelation that Luna Foundation Guard would buy AVAX tokens worth $100 million, the entire stablecoin reserve in cryptocurrencies is likely to increase. Proof-of-Stake consensus is used by both LUNA and AVAX. Both currencies have shown enormous potential to become significant altcoins in the future. Nevertheless, it feels like LUNA has considerably further to drop, while AVAX will be range-bound and so more likely to climb more quickly.

Do you want to know about other interesting cryptocurrency pairs? For example, about Decentraland vs Enjin? Go to the LetsExchange website and learn or exchange cryptocurrency.