Despite the huge market FUD brought by Russia’s aggression toward Ukraine, Terra (LUNA) has been making a convincing rally ahead of all cryptocurrencies, including Bitcoin. In fact, LUNA price has made a jaw-dropping surge of 77% in the last 7 days.
Read CRYPTONEWSLAND onAs seen above, LUNA price has totally reversed its dump and is now trading above the 50-day and 200-day Simple Moving Averages (SMAs). It reached as high as $95 on Binance before settling comfortably at almost $90.
The long green candlestick also displayed one of the biggest 24-hour gains among leading altcoins. Even Bitcoin and Ethereum did not have this privilege.
If LUNA’s price rally continues, it may challenge the bears at the $100 zone before attempting to surpass its all-time high (ATH) price of $103.34. In order for that to happen, the bulls need to flip the $90 psychological resistance into support first.
LUNA’s outstanding performance made crypto exchange FTX list its spot market on its platform.
Meanwhile, the crypto market is beginning to recover as crypto exchanges said they will not close their doors to everyone, including Russian users. Specifically, exchanges such as Binance, Coinbase, and Kraken resisted calls to freeze the wallets of Russian users unless compelled by legal courts.
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