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Let’s Go To The $148 Mark, LUNA Technical Analysis

The last two trading weeks on the LUNA market have heightened investor optimism and hope. The LUNA price is currently trading inside the range of the historical high and has a good possibility of breaking it. Trading volumes continue to consolidate and do not yet show a significant level of buyer aggression. The primary scenario discussed in our earlier study of 3 February has transpired. Buyers not only broke the $79 barrier, but also outperformed themselves. Is it likely that the LUNA cryptocurrency will have a correction? Yes, but before that, buyers can successfully breach the historical high or create a false break and retrace to the $100 zone, or make the final surge to the $148 mark.

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LUNA is currently one of the strongest cryptocurrencies, capable of actively growing while boosting Bitcoin’s dominance. As a result, if you’re looking for a cryptocurrency to invest in, LUNA is an excellent choice. However, LUNA is available in two configurations. The first is following the $148 test and the subsequent $100 price correction. If the price remains in the $100 area and does not fall further, the worldwide LUNA growth wave will be incomplete. Another opportunity to purchase LUNA will present itself following an unsuccessful attempt to cross the $100 barrier. In such event, we can anticipate a swift decline to the $60 range. Why should you consider purchasing LUNA at or near the $60 price point? To accomplish this, the shorter period should be thoroughly considered.

Daily Technical Analysis Of LUNA

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If you examine the LUNA price movement on a daily basis beginning in August 2021, you will see a pause in the upward pattern. The red trend channel demonstrates this, since the coin’s price obviously reversed direction higher. Additionally, for the fourth time in a row, the bottom trend line of this growth channel is performing nicely. When the LUNA price reaches the growth channel’s bottom trend line, a reversal occurs. Additionally, as its upper trend line, this growth channel confirms the likelihood of the $148 test.

Thus, in the case of a cryptocurrency market correction, it will be prudent and safe to purchase LUNA near the $60 level. Additionally, a detailed examination of the LUNA price trend over the last two weeks reveals a noticeable increase in trading volumes. There has not been a single day with low volumes since 21 February. As a result, the likelihood of breaching the $100 markup is fairly real. In the worst-case scenario, there may be a local pullback to the $70 level, from which buyers will attempt another assault on the $100 level. However, as long as the coin price is above $70, the market sentiment will be bullish.

The LUNABTC Price Has Reached A New All-Time High

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The LUNABTC price chart provides additional encouragement and hope for the growth wave to continue. On a weekly basis, we find that buyers are unwilling to allow the market to experience even a minor downturn. The price of LUNABTC breaking above the black trend line did not assist sellers in initiating a market correction. We anticipate continued growth in the LUNABTC price, with an initial goal of 0.0034.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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