LUNA Challenges ATH Following 22% Price Explosion in a Day

Key Support level: $80

Key Resistance level: $104, $120

Luna entered a strong rally after touching the key support at $80 and reached $100 today. Since then, there was a short pullback, but Luna is well-positioned to challenge the current all-time high at $104. The market momentum favors bulls, and Luna may set a new record soon.

Chart by TradingView

Technical Indicators

Trading Volume: The buying volume increased as the price went up today, which is a strong bullish signal.

RSI: The RSI is closing the overbought region at 70 points. The indicator is likely to move even higher if Luna sets a new all-time high.

MACD: The daily MACD is giving positive signals, and the moving averages are expanding. The resilience from bulls will likely be tested soon by the key resistance.


Chart by TradingView


The current bias on Luna is bullish.

Short-Term Prediction for Luna Price

If the cryptocurrency manages to set a new record and turn the $100 level into support, then its price is likely to move higher. The resistance level at $120 would be the next target.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

Related:  3 Reasons Why Ethereum Might Bounce from $1,770

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: