- The RSI shows a steady bearish divergence concerning the LUNA coin price
- The LUNA/BTC pair traded at 0.000739 BTC, with a loss of 3.39%,
- The 24 hr volume of LUNA coins are $1.56 Billion
The LUNA coin rally faced a strong rejection from the $45 mark on 11th September, resulting in a minor retracement in its chart. Furthermore, the price showcases several failed attempt breakdowns from the nearest support of $35.8, displayed by long wick candles. However, the bears are not in the mood of quitting, and today the price again tries to break down from this support, coinciding with the 0.236 FIB level. The current price for the LUNA coin at 34.76 is with an intraday loss of 7.16%.
Concerning the EMAs, the LUNA price has a solid bullish tendency, with the price trading higher than all the important EMA’s (20, 50, 100, and 200). Moreover, as the price provides a minor pullback, the 20 EMA will be the first line of EMA defense for the coin bulls.
The RSI value (BULLISH) is at 74, indicating a bullish sentiment within the LUNA coin. However, the RSI shows a strong bearish divergence concerning the coin’s price action.
LUNA Coin Was Hovering Above The $35 Support.
The LUNA coin was hovering above the $35 mark from the past few days, trying to obtain proper support from this level. This wavering movement has created a small range, shown in its chart. Now the price is currently trying to break down from the $35 support. The crypto traders can wait for a proper retest to validate this breakdown.
The MACD indicator (NEUTRAL), which shows the MACD and signal lines are sitting precisely on the neutral zone (0.00), indicates neutral sentiment in the coin. However, the indicator’s lines also giving a breakdown from the middle line will provide more confirmation for a downfall.
Conclusion: The price action and indicators for LUNA coins indicate a bullish outlook, presenting a great opportunity for trend traders who are looking for long opportunities in this coin. Thus, as mentioned above, the price is going through a minor retracement phase, and if it manages to sustain below the broken level, the next strong support for the coin bulls is $30.8.
Support: $30.58
Resistance $35