Key Support level: $78
Key Resistance level: $92, $120 (ATH)
Luna’s downtrend since hitting a new all-time high at $120 came to a quick stop yesterday when the price rallied 15% in one day.
The biggest challenge now for Luna is to break the critical resistance at $92. If successful, this can put LUNA in a position to target a 3-digit price and maybe the ATH level.
Technical Indicators
Trading Volume: The volume exploded yesterday following the price rally, but it seems LUNA failed to continue this momentum today.
RSI: The RSI spiked to 50 points on the daily timeframe and made a higher high. This is a positive sign and a renewed uptrend could be had if buyers break the key resistance.
MACD: The daily MACD is bearish, but the moving averages are curving up. Buyers need to show more strength to turn the momentum bullish.
Short-Term Prediction for Luna Price
LUNA has a great opportunity to hit a three-digit price again if buyers continue to push higher. The key resistance at $92 must be broken, otherwise, sellers may take over the price action and lead LUNA into a deeper correction.
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