14th APRIL 2022 | ZebPay Trade-Desk
Luna, Terra’s native coin, has seen a 5% increase in value over the last 24 hours. The market cap of the token is approximately $37bn, and it is ranked 9. The bulls can push the token higher than $89, where it could reach $98. This would be where the bears would offer strong resistance. The token’s volume is down 32%, but the RSI is in the negative zone which indicates a favorable outcome for sellers.
Luna traded at $88.5 as of the writing date.
After breaking the neckline of its double bottom pattern at$60, LUNA saw a huge rally and soared to $119. At the high, the asset formed an “Evening Star” (Bearish-looking) pattern and then corrected by almost 31% to drop to $81.3. Luna is trying take support at $83.42 (50% Fibonacci Level). If it holds and maintains above this support, then we might expect a bounce. A break below the support could lead to further decline and prices could slide to $75. It must overcome resistance at $98 to witness a rally.
Support 2Support 1AssetResistance1Resistance 2$75$83.5ADA$98$110
Bitcoin, Ethereum Cash, and other cryptocurrencies are investments. Bitcoin, Bitcoin Cash, Ethereum, etc. These are highly speculative investments and can be subject to market risk. The author’s analysis is intended to be used as information only and not as investment advice.
Altcoin Thursday: LUNA ZebPay | Buy Bitcoin & Crypto.
Did you miss our previous article…