LUNA price stays muted in right this moment’s session. The worth hovers in a really tight vary as traders lack conviction for any directional bias. Nonetheless, some revenue reserving is predicted in LUNA from the upper ranges.
- LUNA worth trades in a really tight vary with no significant motion.
- A decisive shut beneath $90.0 can see an prolonged sell-off within the LUNA worth.
- The momentum oscillators skewed in favor of bearish sentiment.
LUNA worth trades sideways
On the day by day chart, the LUNA worth continues to commerce in a really tight vary for the previous 5 classes. The worth jumped greater than 100% from the lows of $43.48 to the document highs of $104.57. The subsequent worth motion will rely on if the crucial $90.0 is sustainable by the bulls.
At the moment, the worth challenges the 0.23% Fibonacci retracement stage at $0.91. A decisive break beneath the important assist stage will speed up the promoting towards the crucial 50-day EMA (Exponential Shifting Common) positioned at $0.80.
This might additionally mark the breach of one other essential $0.38% Fibonacci retracement stage.
Quite the opposite, if the worth is ready to maintain the $0.90 stage then there’s a chance of the continuation of the upside momentum.
The primary upside goal could possibly be discovered on the psychological $100.0 stage. A resurgence in shopping for strain will push the worth towards the contemporary document excessive stage round $110.0.
As of press time, LUNA/USD is buying and selling at $93.36, down 0.38% for the day. The eighth-largest cryptocurrency by the market cap holds the 24-hour buying and selling quantity of $1,892,647,405 in keeping with the CoinMarketCap.
Technical Indicators:
RSI: The day by day Relative Energy Index oscillated beneath the common line. The present studying is at 56. A downtick within the indicator will strengthen the bearish outlook.
MACD: The Shifting Common Convergence Divergence traded above the mid-line however with a receding bullish momentum.
Buying and selling quantity: The On Steadiness Quantity (OBV) consolidated close to the overbought zone however nonetheless indicated the market is a bit off from over-heating.
Disclaimer
The offered content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.
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