Key Support level: Key Resistance level: , The positive market sentiment is well reflected by Luna’s price, which rallied after touching the key support at . The cryptocurrency has skyrocketed towards and does not look ready to stop until the key resistance at . If Luna is able to move above that level, then the next resistance is found at . Chart by TradingViewTechnical Indicators Trading Volume: The buying volume in the past two days was good, and this supports the price increase. This is bullish. RSI: The RSI is above 50 points and moves higher. It also managed to make a higher high which is another bullish indicator. MACD: The daily MACD has turned around after some hesitation, as shown by the histogram. Momentum on the buy-side appears to
Topics:
Duo Nine considers the following as important: Price Analysis, Terra (LUNA)
This could be interesting, too:
CryptoVizArt writes ETH’s Path to K Involves Maintaining This Critical Support (Ethereum Price Analysis)
Mandy Williams writes Terraform Labs Secures Court Approval to Wind Down Operations
Wayne Jones writes SEC Crypto Enforcement Actions Surged 3,000% to .7 Billion in 2024: Report
Chayanika Deka writes Terraform Labs’ Future Hinges on Upcoming Chapter 11 Reorganization Hearing
Key Support level: $48
Key Resistance level: $64, $79
The positive market sentiment is well reflected by Luna’s price, which rallied after touching the key support at $48. The cryptocurrency has skyrocketed towards $60 and does not look ready to stop until the key resistance at $64. If Luna is able to move above that level, then the next resistance is found at $79.
Technical Indicators
Trading Volume: The buying volume in the past two days was good, and this supports the price increase. This is bullish.
RSI: The RSI is above 50 points and moves higher. It also managed to make a higher high which is another bullish indicator.
MACD: The daily MACD has turned around after some hesitation, as shown by the histogram. Momentum on the buy-side appears to intensify. Let’s see how price reacts at the key resistance.
Bias
The bias on Luna is bullish in the short term.
Short-Term Prediction for Luna Price
While this price action brings optimism, there are two key resistance levels that, if not broken, may lead to a lower high on the macro picture. Therefore, Luna needs to move above $64 and $79 to remain bullish. Otherwise, the price may resume its downtrend after making a lower high.